NYSE$CCI

Crown Castle International · Q3 2025 earnings

Q3 2025 earnings · · After market close · Investor relations

Briefing

Crown Castle reported Q3 2025 site rental revenues of $1.07B with net income of $335M and AFFO per share of $1.89.

Site rental revenues were $1.07 billion as tower leasing grew modestly. Net income was $335 million; AFFO per share was $1.89. Fiber segment strategic review and small-cell demand shape the outlook.

  • Q3 site rental revenues $1.07B.
  • Net income $335M; AFFO per share $1.89.
  • Tower leasing growth and tenant activity cited.
  • Fiber business review and interest expense affect capital allocation.

Headline financials

Total Revenue

$1.07B

Previous: $1.65B-35.1%
EPS (adj)

$1.12

Previous: $0.70+60.0%
Adjusted EBITDA

$718M

Previous: $777M-7.6%
Capital Expenditures

$42M

Previous: $41M+2.4%
Discretionary CapEx

$36M

No prior period
Sustaining CapEx

$6M

No prior period
Fixed-Rate Debt

84.0%

No prior period
Avg Debt Maturity

6

No prior period
Revolver Availability

$4.2B

No prior period
Cell Towers

40.0K

No prior period
Fiber Route Miles

90.0K

No prior period
Free Cash Flow

$323M

Previous: $303M+6.6%
Net Income

$323M

Previous: $303M+6.6%
Operating Income

$525M

Previous: $544M-3.5%
Gross Profit

$1.04B

Previous: $1.62B-35.8%
Cash & Equivalents

$57M

Previous: $194M-70.6%
Total Assets

$31.5B

Previous: $38B-17.2%

Revenue & EPS history

Crown Castle · Revenue · Quarterly

$1.07B

Q3 2025-35.1%vs Q3 2024
Beat estimate in 13 of 15 quarters(87%)
ActualEstimate

Revenue by segment

Crown Castle · $1.16B total across 2 segments · Q3 2023

  • Site Rental
    $1.07B-0.9%
  • Services & Other
    $90M-49.4%

Forward guidance

The filing discusses Crown Castle's outlook, including capital allocation, operating priorities, and market risks relevant to the reported quarter.

Tailwinds

  • Crown Castle cites operational priorities and demand trends supporting the outlook.
  • Balance sheet and liquidity actions aim to fund growth and returns.
  • Portfolio cash flows and dividend coverage remain focal.

Headwinds

  • Macro, pricing, and input-cost volatility could pressure margins.
  • Segment mix and one-time items may affect quarter-to-quarter comparability.
  • Interest rates, cap rates, and refinancing affect book value.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q3 2025

Historical avgQ3 2025

-0.3%

Avg return

Earnings day

-0.7%

Avg return

5 days after

-0.1%

Avg return

30 days after

54%

38 / 70 earnings

Positive

+8.5%

Q4 2024

Best reaction

-9.0%

Q4 2025

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-1.0%+0.2%+6.3%
Q4 2025-9.0%-1.8%+5.0%
Q3 2025+0.6%-3.2%-7.9%
Q2 2025+0.6%+1.8%-5.6%
Q1 2025+0.5%+0.6%-5.1%
Q4 2024+8.5%+9.7%+1.7%
Q3 2024-2.2%-3.6%-9.2%
Q2 2024+1.1%+0.0%+5.7%
Q1 2024+0.4%+1.2%+9.5%
Q4 2023+2.6%+0.9%+0.7%
Q3 2023-8.0%-7.3%+11.3%
Q2 2023-2.8%+0.8%-9.3%
Q1 2023-4.1%-6.0%-14.6%
Q4 2022+1.9%-0.4%-9.7%
Q3 2022-4.9%-8.2%+1.8%
Q2 2022-0.3%-1.2%+3.8%
Q1 2022+1.3%-0.5%-6.0%
Q4 2021-5.8%+0.2%-8.0%
Q3 2021+2.9%+2.8%+6.3%
Q2 2021-5.5%-5.4%-2.6%
Q1 2021+0.7%+1.7%+1.4%
Q4 2020-3.3%+0.5%-4.7%
Q3 2020-5.0%-2.8%+1.5%
Q2 2020-0.9%-4.5%-4.7%
Q1 2020-1.1%-2.2%+6.8%
Q4 2019-9.0%-4.2%-16.0%
Q3 2019+3.7%+6.5%+0.0%
Q2 2019-4.4%-4.7%+7.7%
Q1 2019-1.6%-1.6%+2.1%
Q4 2018+2.5%+4.8%+9.8%
Q3 2018-0.3%-1.0%+4.9%
Q2 2018+0.1%-1.9%+2.7%
Q1 2018-3.3%-1.1%-3.7%
Q4 2017-1.6%-0.5%+0.1%
Q3 2017+1.8%+2.5%+8.5%
Q2 2017+0.7%+2.6%+7.7%
Q1 2017-1.3%-1.0%+5.9%
Q4 2016+0.4%-1.0%+5.6%
Q3 2016+3.5%+2.4%-7.3%
Q2 2016+0.4%-1.8%-5.2%
Q1 2016+0.2%
Q4 2015+1.4%
Q3 2015+4.4%
Q2 2015+3.1%
Q1 2015+1.0%
Q4 2014+4.0%
Q3 2014-5.3%
Q2 2014-2.3%
Q1 2014-1.6%
Q4 2013-1.6%
Q3 2013-1.4%
Q2 2013-4.1%
Q1 2013+4.6%
Q4 2012-0.6%
Q3 2012+1.3%
Q2 2012+4.8%
Q1 2012+2.3%
Q4 2011+0.2%
Q3 2011+2.7%
Q2 2011-5.1%
Q1 2011+2.2%
Q4 2010-3.1%
Q3 2010-1.8%
Q2 2010+0.2%
Q1 2009+2.8%
Q1 2010+0.2%
Q4 2009+2.9%
Q2 2009+2.9%
Q3 2009+6.4%
Q2 2008-3.9%

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