Welcome to our dedicated page for Crown Castle news (Ticker: CCI), a resource for investors and traders seeking the latest updates and insights on Crown Castle stock.
Crown Castle Inc. (NYSE: CCI) operates as a U.S.-focused wireless tower REIT that owns, operates and leases approximately 40,000 cell towers. Following the completed sale of its Fiber Solutions and Small Cell businesses, company updates center on tower leasing, site rental revenue, wireless carrier relationships, capital allocation and debt reduction.
Recurring Crown Castle news includes quarterly and annual operating results, outlook updates, common stock dividends, tax reporting for distributions, stock repurchase plans, credit and balance-sheet actions, customer contract matters and governance or executive-compensation developments tied to its communications infrastructure portfolio.
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Crown Castle priced its public offering of Senior Notes, raising a total of approximately $1.334 billion. The offering includes $600 million in 4.800% Senior Notes due in 2028, priced at 99.773% of face value, and $750 million in 5.100% Senior Notes due in 2033, priced at 99.914%. Proceeds will be used primarily to repay existing revolving credit facility debt and cover related expenses. The offering is managed by major financial institutions and is registered under the SEC existing effective shelf registration. The company operates over 40,000 cell towers and 85,000 miles of fiber across the U.S., providing essential communication infrastructure.
Crown Castle announced a public offering of senior notes to repay existing debt and related expenses. The offering, subject to market conditions, aims to use proceeds primarily for:
- Repaying outstanding debt under its revolving credit facility.
- Repaying a portion of the commercial paper program.
The offering will be facilitated by joint book-running managers including Barclays, BofA Securities, and others. It will be conducted under an existing shelf registration statement with the SEC. Forward-looking statements in the release are subject to risks and uncertainties, potentially affecting the actual outcomes.
Crown Castle reported its Q1 2023 results, revealing site rental revenues of $1.624 billion, a 3% increase year-over-year. The company's net income slightly decreased to $418 million, with net income per share stable at $0.97. Adjusted EBITDA was reported at $1.104 billion, reflecting a 1% rise. Additionally, Adjusted Funds from Operations (AFFO) grew to $828 million, marking a 2% increase. Despite a $46 million impact from Sprint Cancellations, organic revenue growth in the Towers segment is expected to reach 5% in 2023. Furthermore, Crown Castle increased its dividend by 6.5% year-over-year, highlighting strong demand for connectivity and growth in 5G deployment. The company maintains its full-year outlook, aiming for continued operational strength amid challenges from higher interest rates.
Crown Castle plans to disclose its first quarter 2023 results on April 19, 2023, after market close. Following the announcement, a conference call is scheduled for April 20, 2023, at 10:30 a.m. ET. The call will be accessible through a live audio webcast on the Crown Castle website. Participants can join the call by dialing 833-630-1956 (Toll-Free) or 412-317-1837 (International), at least 30 minutes before the start. A replay will be available on the investor page until April 20, 2024. Crown Castle operates over 40,000 cell towers and approximately 85,000 route miles of fiber across the U.S., providing essential infrastructure for wireless services.
Crown Castle announced that Dan Schlanger, the company’s Executive Vice President and Chief Financial Officer, will present at the Morgan Stanley 2023 Technology, Media & Telecom Conference on March 9, 2023, at 9:30 a.m. Eastern Time. The presentation is set to last approximately 30 minutes and will be available via a live audio webcast on Crown Castle's website, which will also host an archive for later viewing. Crown Castle operates over 40,000 cell towers and around 85,000 route miles of fiber, supporting essential data and wireless services in major U.S. markets.