Crown Castle sees FY24 adjusted FFO $6.91, consensus $7.21

Sees FY24 adjusted EBITDA $4.16B. “With third quarter results in line with expectations, we remain on track with our full year 2023 outlook and are seeing the benefits of our comprehensive offering of domestic shared infrastructure assets in our full year 2024 outlook, highlighted by projected consolidated organic revenue growth of 5%, excluding the impact of payments for Sprint Cancellations,” stated Dan Schlanger, Crown Castle’s CFO. “The strong organic growth across each of our businesses is expected to contribute approximately $220 million to 2024 Adjusted EBITDA compared to 2023. However, this growth is expected to be more than offset by a combined $240 million reduction to our straight-lined revenues and amortization of prepaid rent and an additional $165 million reduction related to 2023 payments from Sprint Cancellations not recurring in 2024.”