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Sep 30
Crown Castle Q3 2025 Earnings Report
Crown Castle reported its Q3 2025 results and raised its full-year outlook.
Key Takeaways
Crown Castle posted strong tower performance in Q3 2025 with 5.2% organic growth (excluding Sprint cancellations), net income of $323 million, and raised its full-year 2025 guidance driven by operational efficiencies and lower costs.
Net income increased to $323 million from $303 million a year ago.
EPS rose to $0.74 from $0.70 in Q3 2024.
AFFO per share declined to $1.12, down from $1.20 last year.
Raised full-year 2025 outlook across revenue, EBITDA, and AFFO.
Crown Castle
Crown Castle
Crown Castle Revenue by Segment
Crown Castle Revenue by Geographic Location
Revenue by Segment
Towers Site Rental Revenue
CapyFin.comServices and Other Revenue
CapyFin.comRevenue by Geographic Location
United States Revenue
CapyFin.com Forward Guidance
Crown Castle raised its full-year 2025 outlook across multiple metrics, driven by higher straight-lined revenue, improved margins, and reduced interest expenses.
Positive Outlook
- Increased site rental revenue outlook by $10M.
- Adjusted EBITDA raised by $30M due to higher margins and cost savings.
- AFFO outlook raised by $40M driven by lower interest and capex.
- Net income outlook raised by $45M.
- AFFO per share midpoint increased to $4.29 from $4.20.
Challenges Ahead
- Adjusted EBITDA for the quarter declined 8% YoY.
- AFFO decreased 7% YoY.
- Site rental revenue dropped $54M YoY due to Sprint cancellations.
- Straight-lined revenue and prepaid rent amortization impacted revenue.
- Dividend per share decreased 32% YoY.