ZACKS·2025-10-23 13:15Core Insights - Crown Castle Inc. (CCI) reported third-quarter 2025 adjusted funds from operations (AFFO) per share of $1.12, exceeding the Zacks Consensus Estimate of $1.04 per share, but reflecting a nearly 7% decline year over year [1][10] - The company experienced a rise in services and other revenues year over year, but a decrease in site rental revenues impacted overall results [1] - CCI raised its outlook for 2025, adjusting its AFFO per share guidance to a range of $4.23-$4.35, compared to the previous range of $4.14-$4.25 [7][10] Financial Performance - Net revenues for the quarter were $1.07 billion, surpassing the Zacks Consensus Estimate of $1.05 billion, but down 4.3% year over year [2][10] - Total site rental revenues declined 5.1% year over year to $1.01 billion, attributed to a $17 million decrease in amortization of prepaid rent and a $39 million drop in straight-lined revenues [3][10] - The organic contribution to site rental billings was $52 million, reflecting 5.2% year-over-year organic growth, excluding a $51 million negative impact from Sprint cancellations [4] Revenue Breakdown - Services and other revenues increased to $60 million, marking an 11.1% rise from the prior-year quarter, exceeding the estimate of $54.9 million [4] - Quarterly adjusted EBITDA decreased by 7.6% year over year to $718 million [4] Financial Position - CCI ended the third quarter with cash and cash equivalents of $57 million, down from $94 million as of June 30, 2025 [6] - Total debt and other long-term obligations amounted to $21.55 billion as of September 30, 2025, reflecting a 2.2% decrease sequentially [6] 2025 Guidance - The company increased its site rental revenue guidance to a range of $4.007-$4.052 billion, up from the previous range of $3.997-$4.042 billion [7] - Adjusted EBITDA is now estimated in the range of $2.810-$2.860 billion, an increase from the prior range of $2.780-$2.830 billion [7]