Crown Castle, Inc. (NYSE:CCI) Bank of America Securities Media, Communications and Entertainment Conference September 14, 2023 9:40 AM ET Company Participants Daniel Schlanger - CFO Conference Call Participants Unidentified Analyst Thanks, everybody, for joining us. This is our first Comm. Infrastructure session of the day. Really pleased to have with us Dan Schlanger, EVP and CFO of Crown Castle. Thank you very much for joining us, Dan. Daniel Schlanger Thanks for having us. Question-and-Answer Session Q ...

Crown Castle, Inc. (NYSE:CCI) Goldman Sachs Communacopia & Technology Conference Call September 6, 2023 2:30 PM ET Company Participants Jay Brown - President, CEO & Director Conference Call Participants Joseph Gaebler - Goldman Sachs Group Joseph Gaebler All right. Welcome, everyone. It's so great to welcome back to the Communacopia & Technology Conference, Jay Brown, the President and CEO of Crown Castle. Jay, thanks for being back here with us. Jay Brown Good to be here. Thanks for the invite. Joseph Gae ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ____________________________________ Fiber services and other gross margin was $12 million for the second quarter of 2023 and increased by $11 million from $1 million during the same period in the prior year primarily as a result of site abandonment fees associated with the Sprint Cancellations. Selling, general and administrative expenses for the second quarter of 2023 were $210 million and increased by $20 million, or 11%, from $190 m ...

Cautionary Language This presentation also contains cohort analysis information ("Cohort Information"), which is based in part of management's underlying assumptions, including with respect to market-specific allocations in connection with prior acquisitions. Management believes these assumptions are reasonable; however, other reasonable assumption could provide differing outputs. This presentation contains historical results (including Cohort Information); past results are not a guarantee or indicative of ...

Crown Castle, Inc. (NYSE:CCI) Q2 2023 Earnings Conference Call July 20, 2023 10:30 AM ET Company Participants Kris Hinson - Vice President of Corporate Finance and Treasurer Jay Brown - Chief Executive Officer Dan Schlanger - Chief Financial Officer Conference Call Participants Alex Waters - Bank of America Greg Williams - TD Cowen Ric Prentiss - Raymond James Batya Levi - UBS Simon Flannery - Morgan Stanley Brett Feldman - Goldman Sachs Michael Rollins - Citi Investment Research Phil Cusick - JPMorgan Matt ...

Crown Castle Inc. (NYSE:CCI) Nareit’s REITweek 2023 Investor Conference June 6, 2023 4:30 PM ET Company Participants Daniel Schlanger - Chief Financial Officer Conference Call Participants Michael Rollins - Citigroup Michael Rollins Well, good afternoon, and welcome to our discussion with Crown Castle. I'm Mike Rollins, and I cover the communications services and infrastructure stocks for Citi Research. We have disclosures available at the back of the room. They're over there, if you'd like to read them. I ...

Summary of Crown Castle Inc. Conference Call Company Overview - **Company**: Crown Castle Inc. (NYSE: CCI) - **Industry**: Telecommunications Infrastructure Key Points and Arguments Business Performance and Growth - The core tower business is expected to grow at a rate of **5% to 6%** annually, with a projected growth of around **5%** for 2023, which is on the lower end of the historical range [3] - Despite a lower activity level in 2023 compared to 2022, the current activity is approximately **50% higher** than the average of the previous five years [3][4] - The company has seen a **6.5%** growth in 2022, indicating a strong performance prior to the current year [3] 5G Deployment and Infrastructure - About **50%** of Crown Castle's towers have been upgraded with **5G** technology, indicating progress in the deployment cycle [6][9] - The company is currently in the **amendment cycle** of 5G deployment, transitioning into the **densification cycle** [8][12] - The demand for wireless data in the U.S. is growing at a rate of **20% to 30%** per year, necessitating more antennas on towers [11] Revenue and Customer Contributions - Core leasing activity revenue is projected to be between **$135 million and $145 million** for the year, with a more balanced split between the first and second halves of the year [19][21] - **DISH Network** contributes approximately **3%** to the tower business revenue, with a structured contract designed to incentivize DISH's use of Crown Castle's towers [22][25] - The company has not seen significant churn from DISH, and the minimum use fee structure ensures stable revenue [27] Churn and Contractual Structure - Churn in the tower business is typically between **1% to 2%** annually, with current rates on the low end of that range [34][38] - The company has a **3%** escalator built into its contracts, allowing for growth despite churn [38] Services Revenue - Services revenue is tied to activity levels, with pre-construction services having higher margins compared to construction services [42][43] - The company anticipates steady services revenue as activity levels remain consistent [45] Small Cell Growth - Crown Castle has about **60,000 small cell nodes** on-air and in the pipeline, with plans to double the number of nodes deployed from **5,000** in 2022 to **10,000** in 2023 [58][59] - The growth in small cells is driven by contracts with **Verizon** and **T-Mobile**, with a mix of anchor builds and co-location expected [62][64] Financial Outlook - The company has guided for **AFFO** (Adjusted Funds from Operations) per share growth of **7% to 8%** over time, but anticipates minimal dividend growth in **2024 and 2025** due to interest rate headwinds and Sprint churn [69][71] - The expected headwinds amount to approximately **$350 million to $370 million**, impacting dividend growth for the next couple of years [71] Strategic Insights - Crown Castle's strategy includes offering bundled services of towers, small cells, and fiber to meet customer needs more effectively [50][52] - The company emphasizes the importance of fiber in supporting small cell operations, as it is a critical component for network connectivity [53][54] Additional Important Information - The company has not built many new sites recently due to unattractive economics, focusing instead on existing infrastructure [17][18] - The relationship between activity levels and churn suggests that lower activity may lead to lower churn rates [40]

Additional Information on Revenues (a) Predominately consists of outstanding indebtedness under the CP Program as discussed in footnote (g) of the preceding table and $750 million aggregate principal amount of 3.150% senior unsecured notes ("3.150% Senior Notes"). | --- | --- | --- | --- | --- | |--------------------------------------------------------------------------------------------------------|-------|--------------|-------|------------| | Net income (loss) | $ | 2023 \n418 | $ | 2022 \n421 | | | | | ...

Crown Castle Inc. (NYSE:CCI) Q1 2023 Earnings Conference Call April 20, 2023 10:30 AM ET Company Participants Ben Lowe – Senior Vice President-Corporate Finance Jay Brown – Chief Executive Officer Dan Schlanger – Chief Financial Officer Conference Call Participants Simon Flannery – Morgan Stanley Brett Feldman – Goldman Sachs Michael Rollins – Citi Brendan Lynch – Barclays Greg Williams – TD Cowen Matthew Niknam – Deutsche Bank Ric Prentiss – Raymond James Nick Del Deo – SVB MoffettNathanson Jonathan Atkin ...

Crown Castle Inc. (NYSE:CCI) Morgan Stanley 2023 Technology, Media & Telecom Conference Transcript March 9, 2023 11:00 AM ET Executives Dan Schlanger - Chief Financial Officer Analysts Simon Flannery - Morgan Stanley Simon Flannery All right. Good morning, everybody. Welcome to day four of the TMT Conference and welcome to Dan from CCI. Thanks so much for joining us today, Dan. Dan Schlanger Thanks very much for having me. Question-and-Answer Session Q - Simon Flannery For coming back here. And we thank you ...