Crown Castle Inc. (NYSE:CCI) Morgan Stanley 2023 Technology, Media & Telecom Conference Transcript March 9, 2023 11:00 AM ET Executives Dan Schlanger - Chief Financial Officer Analysts Simon Flannery - Morgan Stanley Simon Flannery All right. Good morning, everybody. Welcome to day four of the TMT Conference and welcome to Dan from CCI. Thanks so much for joining us today, Dan. Dan Schlanger Thanks very much for having me. Question-and-Answer Session Q - Simon Flannery For coming back here. And we thank you ...

Crown Castle Inc. (NYSE:CCI) Raymond James 44th Annual Institutional Investors Conference Transcript March 7, 2023 11:00 AM ET Executives Dan Schlanger - Chief Financial Officer Analysts Ric Prentiss - Raymond James Ric Prentiss No problem. All right. I think it’s still morning, right? It feels like a long day already. But excited. Day two, Raymond James 44th Annual Institutional Investors Conference. My 27th Raymond James Institutional Investor Conference. I’ve seen a lot of people in the room over a lot o ...

Debt Covenants (a) Failure to comply with the financial maintenance covenants would, absent a waiver, result in an event of default under the 2016 Credit Agreement. (b) As defined in the 2016 Credit Agreement. (c) Applicable solely to the extent that the senior unsecured debt rating by any two of S&P, Moody's and Fitch is lower than BBB-, Baa3 or BBB-, respectively. If applicable, the consolidated interest coverage ratio must be greater than or equal to 2.50. 37 Critical Accounting Policies and Estimates Fo ...

Crown Castle Inc. (NYSE:CCI) Q4 2022 Earnings Conference Call January 26, 2023 10:30 AM ET Company Participants Ben Lowe - Senior Vice President Jay Brown - Chief Executive Officer Dan Schlanger - Chief Financial Officer Conference Call Participants Michael Rollins - Citi David Barden - Bank of America Simon Flannery - Morgan Stanley Philip Cusick - JPMorgan Ric Prentiss - Raymond James Brandon Nispel - KeyBanc Capital Markets Greg Williams - Cowen Nick Del Deo - SVB MoffettNathanson Jonathan Atkin - RBC Ca ...

Fourth Quarter 2022 Earnings Conference Call PAGE Fourth Quarter 2022 Earnings Conference Call PAGE Full Year 2022 Results ($ in millions) Site Rental Revenues Adjusted EBITDA AFFO $3,013 $3,201 $3,200 2021 Actuals Previous 2022 Outlook 2022 Actuals $3,816 $4,352 $4,340 2021 Actuals Previous 2022 Outlook 2022 Actuals $5,719 $6,265 $6,289 2021 Actuals Previous 2022 Outlook 2022 Actuals (1) (1) (1) ↑ 10% YoY Growth ↑ 14% YoY Growth ↑ 6% YoY Growth 1. Midpoint of Outlook range as issued on October 19, 2022. 4 ...

Crown Castle Inc. (NYSE:CCI) Citi’s 2023 Communications, Media & Entertainment Conference January 4, 2023 4:30 PM ET Company Participants Dan Schlanger - CFO Conference Call Participants Michael Rollins - Citigroup Michael Rollins Well, good afternoon. And for those joining via the audio stream welcome back to Citi’s 2023 Communications, Media -- Communication, Media and Entertainment Conference. For those of you who I haven't met, I'm Mike Rollins, I cover Communication Services and Infrastructure for Citi ...

Crown Castle Inc. (NYSE:CCI) Morgan Stanley European Technology, Media & Telecom Conference 2022 Call November 17, 2022 2:55 AM ET Company Participants Ben Lowe - Senior Vice President, Corporate Finance Unidentified Analyst Great. Good morning, everybody. Welcome to Day 2 of the conference. Hope you are having a good conference. It’s my great pleasure to welcome Ben Lowe from Crown Castle. Welcome to Barcelona, Ben. Ben Lowe It’s great to be back. Question-and-Answer Session Q - Unidentified Analyst So bef ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ____________________________________ Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, $0.01 par value CCI New York Stock Exchange Large accelerated filer ☒ Accelerated filer ☐ Non-accelerated filer ☐ Smaller reporting company ☐ Emerging growth company ☐ FORM 10-Q ___________________________________ ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For t ...

Crown Castle Inc. (NYSE:CCI) Q3 2022 Earnings Conference Call October 20, 2022 10:30 AM ET Company Participants Ben Lowe - SVP of Corporate Finance Jay Brown - CEO Dan Schlanger - CFO Conference Call Participants Simon Flannery - Morgan Stanley Jon Atkin - RBC Ric Prentiss - Raymond James Michael Rollins - Citi David Barden - Bank of America Merrill Lynch Phil Cusick - JPMorgan Brett Feldman - Goldman Sachs Matt Niknam - Deutsche Bank Nick Del Deo - MoffettNathanson Brandon Nispel - KeyBanc Capital Markets ...

Summary of Crown Castle International Corp. Conference Call Company Overview - **Company**: Crown Castle International Corp. (NYSE: CCI) - **Industry**: Telecommunications Infrastructure Key Points and Arguments Business Model and Strategy - Crown Castle is the largest tower operator in the U.S. and a leading provider of small cells and enterprise fiber, differentiating itself from peers like American Tower [2][3] - The company has focused on diversifying its communications infrastructure to meet the growing demand for wireless communications, particularly with the transition from 4G to 5G [3][4] - The densification of networks is essential for handling increased data traffic, which requires different assets than traditional macro towers [4][5] Growth and Market Position - Crown Castle has positioned itself to follow major carriers like Verizon and AT&T in building assets where they are needed, leading to faster co-location rates than historical tower growth [6][12] - The company expects organic growth of around 6% for its tower leasing business, outpacing peers due to its focus on densely populated urban areas [11][12] - The recent agreement with DISH to lease up to 20,000 towers represents a significant $4 billion commitment over several years, indicating strong demand for Crown Castle's assets [16][17] Future Outlook - The company anticipates a long runway for growth driven by 5G deployments, with data traffic expected to grow significantly, akin to the U.S. population doubling every two years [21][22] - Crown Castle aims to grow its dividend by 7% to 8% annually, supported by the increasing demand for small cells and enterprise applications [22][63] Challenges and Risks - Potential headwinds include rising interest rates, which could impact cash flows, and the consolidation of T-Mobile and Sprint, which may affect revenue growth [23][25] - The company is cautious about the peak in wireless capital expenditures, although it believes that long-term network spending will remain robust [26][18] Small Cell Infrastructure - Crown Castle has signed contracts for approximately 50,000 small cell nodes with T-Mobile and Verizon, marking a significant increase in its small cell business [33][34] - The company expects to double the number of small cell nodes deployed in 2023 compared to 2022, indicating a positive growth trajectory [34] - Small cells are seen as complementary to macro towers, essential for offloading traffic and filling coverage gaps [30][31] Financial Performance and Capital Structure - The company maintains a leverage ratio of 4.9x net debt to EBITDA, with plans to keep it around 5 to 5.5x to fund growth, particularly in small cells [59][60] - Crown Castle's pricing strategy for small cell contracts aims for a 6% to 7% yield on capital invested, with expectations of higher yields as co-location increases [40][42] Inflation and Cost Management - The company’s cost structure is relatively insulated from inflation, with fixed long-term ground leases being a significant expense [55] - Crown Castle has been proactive in managing supply chain challenges, ensuring timely deployment of assets [58] Conclusion - Crown Castle is well-positioned to capitalize on the growing demand for wireless infrastructure, with a strong focus on small cells and urban markets, while navigating potential challenges in the macroeconomic environment [66][68]