Crown Castle's Q3 AFFO Beats, Revenues Fall Y/Y, '25 View Raised

Crown Castle Inc. CCI reported third-quarter 2025 adjusted funds from operations (AFFO) per share of $1.12, which topped the Zacks Consensus Estimate of $1.04 per share. However, the figure declined nearly 7% year over year.Results reflect a rise in services and other revenues year over year. However, a decrease in site rental revenues affected the results to some extent. CCI increased its outlook for 2025.Net revenues of $1.07 billion outpaced the Zacks Consensus Estimate of $1.05 billion but fell 4.3% year over year.Key Earnings Takeaways for CCIDuring the third quarter, CCI’s total site rental revenues declined 5.1% year over year to $1.01 billion. This fall was due to a $17 million decrease in amortization of prepaid rent and a $39 million drop in straight-lined revenues. Our estimate for total site-rental revenues was pegged at $995 million.The organic contribution to site rental billings of $52 million reflected 5.2% year-over-year organic growth, excluding an unfavorable $51 million impact from Sprint Cancellations.Meanwhile, services and other revenues came in at $60 million, which rose 11.1% from the prior-year quarter. Our estimate for services and other revenues was pegged at $54.9 million.Quarterly adjusted EBITDA was down 7.6% year over year to $718 million.Net interest expenses and amortization of deferred financing costs rose 4.7% year over year to $247 million.CCI’s Financial PositionCrown Castle exited the third quarter with cash and cash equivalents of $57 million, down from $94 million reported as of June 30, 2025.Moreover, debt and other long-term obligations aggregated $21.55 billion as of Sept. 30, 2025, decreasing 2.2% sequentially.2025 Guidance for CCICrown Castle raised its guidance for 2025 AFFO per share in the range of $4.23-$4.35 compared to the prior guidance of $4.14-$4.25, increasing the midpoint by 2.1%. The Zacks Consensus Estimate presently stands at $4.21, below the projected range.CCI increased the site rental revenue range to $4.007-$4.052 billion compared to the previous range of $3.997-$4.042 billion. Adjusted EBITDA is estimated in the band of $2.810-$2.860 billion, up from the prior range of $2.780-$2.830 billion.Crown Castle currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Crown Castle Inc. Price, Consensus and EPS Surprise Crown Castle Inc. price-consensus-eps-surprise-chart | Crown Castle Inc. QuotePerformance of Other REITsSL Green Realty Corp. SLG reported third-quarter 2025 AFFO per share of $1.58, beating the Zacks Consensus Estimate of $1.34. The company reported an FFO of $1.13 per share in the year-ago period.Results reflected strong leasing activity with improved average rental rates on the Manhattan office leases signed in this period.Prologis, Inc. PLD reported third-quarter 2025 core funds from operations (FFO) per share of $1.49, outpacing the Zacks Consensus Estimate of $1.44. This also compares favorably with the year-ago quarter’s figure of $1.43.The quarterly results reflected a rise in rental revenues and healthy leasing activity. However, high interest expenses remained the undermining factor.Note: Anything related to earnings presented in this write-up represents funds from operations (FFO), a widely used metric to gauge the performance of REITs.Radical New Technology Could Hand Investors Huge GainsQuantum Computing is the next technological revolution, and it could be even more advanced than AI.While some believed the technology was years away, it is already present and moving fast. Large hyperscalers, such as Microsoft, Google, Amazon, Oracle, and even Meta and Tesla, are scrambling to integrate quantum computing into their infrastructure.Senior Stock Strategist Kevin Cook reveals 7 carefully selected stocks poised to dominate the quantum computing landscape in his report, Beyond AI: The Quantum Leap in Computing Power.Kevin was among the early experts who recognized NVIDIA's enormous potential back in 2016. Now, he has keyed in on what could be "the next big thing" in quantum computing supremacy. Today, you have a rare chance to position your portfolio at the forefront of this opportunity.See Top Quantum Stocks Now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Prologis, Inc. (PLD): Free Stock Analysis Report Crown Castle Inc. (CCI): Free Stock Analysis Report SL Green Realty Corporation (SLG): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks