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Crown Castle Announces Closing of Sale of Fiber and Small Cell Businesses and Updates Full Year 2026 Outlook

CCI
  • Crown Castle Inc. completed the sale of its Fiber Solutions business to Zayo Group Holdings Inc. and its Small Cell business to Arium Networks, an EQT Active Core Infrastructure fund company.
  • The total transaction value is $8.5 billion, resulting in approximately $8.4 billion in net proceeds after preliminary adjustments.
  • Crown Castle plans to use $1.0 billion of the proceeds for share repurchases under a Board-approved program effective May 1, 2026.
  • The company intends to reduce outstanding debt by more than $7.0 billion using the remaining sale proceeds.
  • Following the sale, Crown Castle is now the only U.S.-focused, large publicly traded pure-play tower company.
  • The company raised its full-year 2026 Net income (loss) outlook to a range of $690 million to $970 million, an increase of $50 million from the previous forecast.
  • Full-year 2026 Net income (loss) per share diluted is now projected at $1.61 to $2.26, up $0.14 from the prior outlook.
  • Full-year 2026 Adjusted Funds from Operations (AFFO) is projected at $1,945 million to $1,995 million, an increase of $50 million from the previous forecast.
  • Full-year 2026 AFFO per share is projected at $4.53 to $4.65, an increase of $0.16 from the previous forecast.
  • Interest expense for 2026 is expected to decrease by $40 million compared to the previous outlook due to earlier debt repayments.
  • Interest income is expected to increase by $10 million compared to the previous outlook due to earlier investment of sale proceeds.
  • Full-year 2026 Site rental revenues are projected at $3,828 million to $3,873 million, unchanged from the previous forecast.
  • Discretionary capital expenditures for 2026 remain in the range of $150 million to $250 million.
  • The increase in financial guidance is attributed to the receipt of sale proceeds on May 1, 2026, rather than the previously assumed June 30, 2026, date.
  • The Fiber Business results, including an estimated loss on disposal, are now classified under discontinued operations.