Summary of Crown Castle International Corp. Conference Call Company Overview - **Company**: Crown Castle International Corp. (NYSE: CCI) - **Industry**: Telecommunications Infrastructure Key Points and Arguments Business Model and Strategy - Crown Castle is the largest tower operator in the U.S. and a leading provider of small cells and enterprise fiber, differentiating itself from peers like American Tower [2][3] - The company has focused on diversifying its communications infrastructure to meet the growing demand for wireless communications, particularly with the transition from 4G to 5G [3][4] - The densification of networks is essential for handling increased data traffic, which requires different assets than traditional macro towers [4][5] Growth and Market Position - Crown Castle has positioned itself to follow major carriers like Verizon and AT&T in building assets where they are needed, leading to faster co-location rates than historical tower growth [6][12] - The company expects organic growth of around 6% for its tower leasing business, outpacing peers due to its focus on densely populated urban areas [11][12] - The recent agreement with DISH to lease up to 20,000 towers represents a significant $4 billion commitment over several years, indicating strong demand for Crown Castle's assets [16][17] Future Outlook - The company anticipates a long runway for growth driven by 5G deployments, with data traffic expected to grow significantly, akin to the U.S. population doubling every two years [21][22] - Crown Castle aims to grow its dividend by 7% to 8% annually, supported by the increasing demand for small cells and enterprise applications [22][63] Challenges and Risks - Potential headwinds include rising interest rates, which could impact cash flows, and the consolidation of T-Mobile and Sprint, which may affect revenue growth [23][25] - The company is cautious about the peak in wireless capital expenditures, although it believes that long-term network spending will remain robust [26][18] Small Cell Infrastructure - Crown Castle has signed contracts for approximately 50,000 small cell nodes with T-Mobile and Verizon, marking a significant increase in its small cell business [33][34] - The company expects to double the number of small cell nodes deployed in 2023 compared to 2022, indicating a positive growth trajectory [34] - Small cells are seen as complementary to macro towers, essential for offloading traffic and filling coverage gaps [30][31] Financial Performance and Capital Structure - The company maintains a leverage ratio of 4.9x net debt to EBITDA, with plans to keep it around 5 to 5.5x to fund growth, particularly in small cells [59][60] - Crown Castle's pricing strategy for small cell contracts aims for a 6% to 7% yield on capital invested, with expectations of higher yields as co-location increases [40][42] Inflation and Cost Management - The company’s cost structure is relatively insulated from inflation, with fixed long-term ground leases being a significant expense [55] - Crown Castle has been proactive in managing supply chain challenges, ensuring timely deployment of assets [58] Conclusion - Crown Castle is well-positioned to capitalize on the growing demand for wireless infrastructure, with a strong focus on small cells and urban markets, while navigating potential challenges in the macroeconomic environment [66][68]

Crown Castle Inc. (NYSE:CCI) 2022 Bank of America Media, Communications & Entertainment Conference September 8, 2022 12:40 PM ET Company Participants Dan Schlanger - CFO Conference Call Participants David Barden - Bank of America David Barden Thanks for coming. Appreciate it. We're kind of kicking off the comm, infrastructure side of the conference here with the Chief Financial Officer of Crown Castle, Dan Schlanger. Dan, thanks for coming again, this year. Sorry, we didn't get the golf sorted out in 2022, ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ____________________________________ Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, $0.01 par value CCI New York Stock Exchange Large accelerated filer ☒ Accelerated filer ☐ Non-accelerated filer ☐ Smaller reporting company ☐ Emerging growth company ☐ FORM 10-Q ___________________________________ ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For t ...

Crown Castle International Corp. (NYSE:CCI) Q2 2022 Earnings Conference Call July 21, 2022 10:30 AM ET Company Participants Ben Lowe - Senior Vice President of Corporate Finance Jay Brown - Chief Executive Officer Dan Schlanger - Chief Financial Officer Conference Call Participants David Barden - Bank of America Simon Flannery - Morgan Stanley Brett Feldman - Goldman Sachs Ric Prentiss - Raymond James Jon Atkin - RBC Phil Cusick - JPMorgan Michael Rollins - Citi Matt Niknam - Deutsche Bank Nick Del Deo - Mo ...

| --- | --- | |--------------------------|--------------------------| | | | | | | | July 21, 2022 | | | Second Quarter 2022 | | | Earnings Conference Call | | | | The pathway to possible. | Cautionary Language This presentation contains forward-looking statements and information ("Forward-Looking Statements") that are based on our management's current expectations Statements that are not historical facts are hereby identified as Forward-Looking Statements. In addition, words such as "estimate," "see," "anti ...

Crown Castle International Corp. (NYSE:CCI) Nareit's REITweek: 2022 Investor Conference Call June 7, 2022 3:00 PM ET Company Participants Dan Schlanger - Executive Vice President & Chief Financial Officer Conference Call Participants Simon Flannery - Morgan Stanley Simon Flannery All right. Good afternoon, everybody. My name is Simon Flannery. I'm the Telecom Services and Communications Infrastructure Analyst at Morgan Stanley. Welcome you all. It's great to be in person for New York Nareit. Again, my great ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ____________________________________ FORM 10-Q ___________________________________ ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period to Commission File Number 001-16441 ____________________________________ CROWN CASTLE INTERNATIONAL C ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ___________________________________ FORM 10-K __________________________ ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2021 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-16441 __________________________ CROWN CASTLE INTERNATIONAL CORP. (Exact name of ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ____________________________________ FORM 10-Q ___________________________________ ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period to Commission File Number 001-16441 ____________________________________ CROWN CASTLE INTERNATION ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ____________________________________ Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, $0.01 par value CCI New York Stock Exchange Large accelerated filer ☒ Accelerated filer ☐ Non-accelerated filer ☐ Smaller reporting company ☐ Emerging growth company ☐ FORM 10-Q ___________________________________ ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For t ...