Revenue: As of FY2025, the actual value is USD 4.264 B, beating the estimate of USD 4.255 B.EPS: As of FY2025, the actual value is USD 1.01, beating the estimate of USD 0.8799.EBIT: As of FY2025, the actual value is USD 3.034 B.<h4>Net Revenues</h4><ul><li>2025:<ul><li>Site rental billings: $3,923 million </li><li>Total site rental revenue: $4,049 million </li><li>Services and other revenue: $215 million </li><li>Net revenues: $4,264 million </li></ul></li><li>2024:<ul><li>Site rental billings: $3,934 million </li><li>Total site rental revenue: $4,268 million </li><li>Services and other revenue: $192 million </li><li>Net revenues: $4,460 million </li></ul></li></ul><h4>Select Operating Expenses</h4><ul><li>2025:<ul><li>Site rental costs of operations exclusive of straight-lined expenses: $934 million </li><li>Total site rental costs of operations: $992 million </li><li>Services and other costs of operations: $113 million </li><li>Total costs of operations: $1,105 million </li><li>Selling, general and administrative expenses: $383 million </li></ul></li><li>2024:<ul><li>Site rental costs of operations exclusive of straight-lined expenses: $920 million </li><li>Total site rental costs of operations: $983 million </li><li>Services and other costs of operations: $107 million </li><li>Total costs of operations: $1,090 million </li><li>Selling, general and administrative expenses: $435 million </li></ul></li></ul><h4>Profitability Metrics</h4><ul><li>2025:<ul><li>Net income (loss): $444 million </li><li>Adjusted EBITDA: $2,863 million </li><li>Depreciation, amortization and accretion: $690 million </li><li>Interest expense and amortization of deferred financing costs, net: $972 million </li><li>FFO: $1,764 million </li><li>AFFO: $1,904 million </li><li>AFFO per share: $4.36 </li></ul></li><li>2024:<ul><li>Net income (loss): -$3,903 million </li><li>Adjusted EBITDA: $3,035 million </li><li>Depreciation, amortization and accretion: $736 million </li><li>Interest expense and amortization of deferred financing costs, net: $932 million </li><li>FFO: $1,863 million </li><li>AFFO: $1,980 million </li><li>AFFO per share: $4.55 </li></ul></li></ul><h4>Capital Expenditures</h4><ul><li>2025:<ul><li>Total discretionary capital expenditures: $149 million </li><li>Sustaining capital expenditures: $33 million </li><li>Total capital expenditures: $182 million </li><li>Capital expenditures less prepaid rent additions: $139 million </li></ul></li><li>2024:<ul><li>Total discretionary capital expenditures: $142 million </li><li>Sustaining capital expenditures: $34 million </li><li>Total capital expenditures: $176 million </li><li>Capital expenditures less prepaid rent additions: $131 million </li></ul></li></ul><h4>Cash Flow</h4><ul><li>2025:<ul><li>Net cash provided by operating activities: $3,057 million </li><li>Net cash provided by investing activities: -$1,158 million </li><li>Net cash provided by financing activities: -$1,886 million </li><li>Free Cash Flow from Discontinued Operations: $205 million </li></ul></li><li>2024:<ul><li>Net cash provided by operating activities: $2,943 million </li><li>Net cash provided by investing activities: -$1,220 million </li><li>Net cash provided by financing activities: -$1,708 million </li><li>Free Cash Flow from Discontinued Operations: $78 million </li></ul></li></ul><h4>Operational Metrics (as of December 31, 2025)</h4><ul><li>Number of towers: 40,000 </li><li>Average number of tenants per tower: 2.4 </li><li>Remaining contracted tenant receivables: $27 billion </li><li>Weighted average remaining tenant contract term: 6 years </li><li>Percent of towers in Top 50 / 100 Basic Trading Areas: 56% / 71% </li><li>Percent of ground leased / owned: 57% / 43% </li><li>Weighted average maturity of ground leases: 35 years </li></ul><h4>Tenant Overview (as of December 31, 2025)</h4><ul><li>T-Mobile accounted for 40% of Q4 2025 LQA Site Rental Revenues with a 7-year Weighted Average Current Term Remaining .</li><li>AT&amp;T represented 27% of Q4 2025 LQA Site Rental Revenues with a 3-year Weighted Average Current Term Remaining .</li><li>Verizon contributed 22% of Q4 2025 LQA Site Rental Revenues with a 6-year Weighted Average Current Term Remaining .</li><li>All Other Combined tenants made up 11% of Q4 2025 LQA Site Rental Revenues with an 8-year Weighted Average Current Term Remaining .</li></ul><h4>Outlook / Guidance</h4>Crown Castle Inc. initiated a restructuring plan on February 4, 2026, to enhance efficiency by reducing tower and corporate employee headcount by approximately 20%, estimating aggregate restructuring charges of about $30 million, mostly in Q1 and Q2 2026 . For the full year 2026, Crown Castle Inc. expects Site Rental Billings between $3,800 million and $3,830 million, Net Income (Loss) from $640 million to $920 million, and Adjusted EBITDA from $2,665 million to $2,715 million . AFFO is forecasted to be in the range of $1,895 million to $1,945 million, with AFFO per share between $4.38 and $4.49 .

Crown Castle | 8-K: FY2025 Revenue Beats Estimate at USD 4.264 B