Crown Castle backs FY24 AFFO view $6.85-$6.97, consensus $6.92

Sees FY24 adjusted EBITDA $4.14B-$4.19B. Sees FY24 site rental revenue $6.34B-$6.4B. “With first quarter results in line with expectations, we remain on track to meet our full year guidance as we continue to focus on executing for our customers and shareholders,” said Dan Schlanger, Crown Castle’s CFO. “In the first quarter we delivered 5.0% consolidated core organic growth with solid performance across each line of business as demand for our tower, small cell, and fiber solutions shared infrastructure continues to grow. In addition, our balance sheet remains well-positioned to provide stability and flexibility as we evaluate strategic paths forward. We finished the first quarter with more than 90% fixed rate debt, a weighted average maturity of 7 years, only 8% of our debt maturing through 2025, and $6 billion of liquidity under our revolving credit facility.”