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Crown Castle Inc.

CCI

Filing: SEC 10-Q
Period: Quarter ended 2026-03-31
Basis: Editorial filing; Read original SEC 10-Q ↗

Sankey diagram of Crown Castle Inc.. A complete text table follows the diagram.

Crown Castle Can Rent the Same 40,000 Towers Again and Again

After selling fiber and small cells, Crown Castle is a focused tower landlord where each additional wireless tenant carries little incremental operating cost.

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Source & review

Read original SEC 10-Q ↗

SEC accession: 0001051470-26-000059
Filed: Date not recorded
Reviewed: 2026-07-26
Status: Individual filing review complete

How to read these figures

The diagram focuses on the continuing tower business because fiber and small cells are reported as discontinued operations. Contribution nodes are editorial arithmetic residuals, not reported non-GAAP measures. The fiber transaction closed after quarter-end but before the 10-Q was filed and is disclosed as a subsequent event.

Labels and narrative explain the filing. A category marked “arithmetic bridge” or “residual” is calculated from reported totals, rather than a separately reported line.

Tenant contracts generally begin at 5-15 years, include escalators and offer multiple 5-10 year renewal periods.
Substantially every tower can accept another tenant now or after modification, making added tenancy a high-return use of existing steel.
Site-rental revenue fell 5% as $54M of DISH and Sprint non-renewals outweighed new leasing activity.
Crown Castle sold 90,000 fiber route miles and 105,000 small-cell nodes for $8.4B of cash on May 1, 2026.
Only $50M of discretionary capital was needed in the quarter, mainly for tenant upgrades and land beneath existing towers.

View accessible tables

Financial categories · Quarter ended 2026-03-31 · Millions of USD
Category	Stage	Value	Notes
Long-term tower leases	1	$961M	Access to approximately 40,000 towers
Site-development services	1	$49M	Ancillary tenant work
Tower-site contribution	2	$721M	75% after direct site costs
Ground leases & tower operations	2	$240M	Direct cost of the shared sites
Services contribution	2	$23M	Ancillary project economics
Service delivery costs	2	$26M	Labor and project costs
Shared-infrastructure contribution	3	$744M	Tower rent dominates the model
Operating income	4	$465M	Continuing tower operations
Support, depreciation & reset costs	4	$279M	Corporate, D&A and restructuring

Financial flows · Millions of USD
From	To	Value
Long-term tower leases	Tower-site contribution	$721M
Long-term tower leases	Ground leases & tower operations	$240M
Site-development services	Services contribution	$23M
Site-development services	Service delivery costs	$26M
Tower-site contribution	Shared-infrastructure contribution	$721M
Services contribution	Shared-infrastructure contribution	$23M
Shared-infrastructure contribution	Operating income	$465M
Shared-infrastructure contribution	Support, depreciation & reset costs	$279M