Crown Castle (CCI) Citi’s 2026 Global TMT Conference summary

Leadership focus and organizational transformation

• Transitioned to a U.S.-only tower company after divesting fiber and small cell business, emphasizing operational efficiency and customer-centric restructuring.

• Streamlined commercial organization to simplify customer interactions and capture new opportunities.

• Maintains clear business boundaries, focusing on asset management and leasing within core competencies.

Strategic positioning and market differentiation

• Over 70% of towers are in the 100 largest U.S. markets, leveraging prime locations for competitive advantage.

• Focus on organic growth, aiming to maximize asset utilization and maintain a leading position during deployment cycles.

• Differentiation through customer experience improvements and value creation for shareholders.

Financial outlook and growth drivers

• Organic growth forecast (excluding Sprint attrition) is 3.6% for 2026, with expectations for improvement in 2027 and beyond.

• Growth is driven by new leasing activity, escalators, churn, and other billings, with contracted activity providing visibility.

• Majority of future growth improvement expected from new leasing activity as Sprint churn impact diminishes.