Crown Castle Inc.’s (NYSE: CCI) reported results for the first quarter ended March 31 reflected adjustments related to fiber and small cell asset sales, but the company maintained its full year 2025 outlook.
“We delivered solid operational and financial results in the first quarter, as a continuation of strong activity levels in the U.S. drove five percent organic growth in our tower business excluding the impact of Sprint Cancellations, positioning us well to meet our full year 2025 Outlook,” said Dan Schlanger, Crown Castle’s Interim President and Chief Executive Officer.
“In addition to delivering our full year 2025 Outlook, we are focused on facilitating the successful and efficient close of the previously-announced sale of our small cells and fiber solutions businesses and positioning the tower business to maximize shareholder value on a stand-alone basis. After closing the sale, we will have a unique value creation opportunity as the only public pure-play tower company providing focused exposure to the U.S., which we believe is the best market in the world for tower ownership. We continue to focus on maximizing top- and bottom-line results in our tower business by improving customer service, operational excellence and profitability.”
For the quarter, Organic Contribution to Site Rental Billings was $49 million, or 5.1 percent organic growth from 1Q24, excluding an unfavorable $51 million impact from Sprint Cancellations. Net income was negative $464 million compared to $311 million in the year-ago quarter, reflecting the impact of an $830 million loss associated with the agreement announced in March 2025 to sell Crown Castle’s fiber business.
Adjusted EBITDA was $722 million compared to $754 million for the first quarter 2024. AFFO was $479 million, representing a one percent year-over-year decrease. Capital expenditures from continuing operations in 1Q25 were $40 million, down $7 million from 1Q24.
Crown Castle’s current full year midpoint 2025 Outlook, which remains unchanged from the previous guidance includes: Site rental revenues of 4.0 billion, services of $85 million, Adjusted EBITDA of $2.8 billion, AFFO of $1.8 billion and discretionary capex of $185 million.
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