Crown Castle Q4 AFFO Tops Estimates at $1.12 Despite 6.7% Decline
Crown Castle reported fourth-quarter 2025 AFFO per share of $1.12, beating consensus by $0.05 but falling 6.7% year over year. Service and other revenue growth was offset by a drop in site rental revenues, impacting overall performance.
1. Fourth-Quarter AFFO Performance
Crown Castle’s fourth-quarter AFFO per share reached $1.12, surpassing consensus estimates of $1.07 while marking a 6.7% decline year over year. The result underscores resilient cash flow generation despite broader headwinds in rental yield.
2. Revenue Segment Details
Service and other revenues rose 22.4% year over year, driven by expanded small-cell deployments and new managed service contracts. Conversely, site rental revenues decreased, reflecting reduced tenant activity and contractual adjustments in key urban markets.