Crown Castle Q3 site rental revenue falls on DISH and Sprint impacts
CCI•Crown Castle’s Q3 site rental revenue fell 5% year over year to $966 million, while AFFO per share rose 11%. It raised its 2026 adjusted EBITDA outlook to $2.69 billion-$2.74 billion and AFFO outlook to $1.96 billion-$2.01 billion.
1. Q3 results
Crown Castle said Q3 site rental revenue fell 5% year over year to $966 million, affected by DISH terminations and Sprint cancellations. Net income and adjusted EBITDA declined from a year earlier, partly due to lower services contribution. AFFO per share rose 11%, helped by lower interest expense and fewer outstanding shares following the sale of its Fiber and Small Cell business.
2. 2026 outlook
The company raised its 2026 adjusted EBITDA outlook by $25 million to $2.69 billion-$2.74 billion and its AFFO outlook by $5 million to $1.96 billion-$2.01 billion. It expects core leasing activity to be at the low end of its $60 million-$70 million range.
