Crown Castle raised its full-year 2026 adjusted funds from operations guidance and signaled a $2.1 billion AFFO midpoint for the second half of 2026 through the first half of 2027. The company completed the sale of its small cell and fiber businesses on May 1, becoming the only publicly traded pure-play U.S. tower operator, and used the $8.4 billion in net proceeds to repurchase $1 billion in shares at an average price of $88.66 and repay more than $7 billion in debt. Second-quarter organic growth excluding Sprint cancellations and DISH terminations was 3.9 percent, or $38 million, while AFFO benefited from a $35 million decrease in interest expense and a $14 million increase in interest income. The full-year AFFO outlook was raised by $5 million at the midpoint, driven by a $5 million increase in site rental revenues and a $5 million decrease in interest expense, partially offset by a $20 million decrease in services contribution. Management also said it will pursue its $3.5 billion contractual claim against DISH Wireless in bankruptcy court and highlighted a $2.4 billion escrow account tied to the AT&T transaction as a potential recovery source.
Crown CastleRaised 2026 AFFO guidance, completed sale of fiber/small cell, used proceeds for buyback and debt reduction, improving financial profile.
AT&T Inc.