Crown Castle Inc. (NYSE:CCI) Q3 2024 Earnings Conference Call October 16, 2024 5:00 PM ET

Company Participants

Kris Hinson - VP, Corporate Finance & Treasurer
Steven Moskowitz - CEO
Daniel Schlanger - CFO

Conference Call Participants

Ric Prentiss - Raymond James
Simon Flannery - Morgan Stanley
Michael Rollins - Citi
David Barden - Bank of America
Nick Del Deo - MoffettNathanson
Jim Schneider - Goldman Sachs
Richard Choe - JPMorgan
Batya Levi - UBS

Operator

Good day, and welcome to the Crown Castle's Third Quarter 2024 Earnings Conference Call. [Operator Instructions] Please note, this event is being recorded.

I would now like to turn the conference over to Kris Hinson, Vice President of Corporate Finance and Treasurer. Please go ahead.

Kris Hinson

Thank you, Dave, and good afternoon, everyone. Thank you for joining us today as we discuss our third quarter 2024 results. With me on the call this afternoon are Steven Moskowitz, Crown Castle's Chief Executive Officer; and Dan Schlanger, Crown Castle's Chief Financial Officer. To aid the discussion, we have posted supplemental materials in the Investors section of our website at crowncastle.com that will be referenced throughout the call.

This conference call will contain forward-looking statements, which are subject to certain risks, uncertainties, and assumptions, and actual results may vary materially from those expected. Information about potential factors which could affect our results is available in the press release and the Risk Factors sections of the company's SEC filings. Our statements are made as of today, October 16, 2024, and we assume no obligation to update any forward-looking statements.

In addition, today's call includes discussions of certain non-GAAP financial measures. Tables reconciling these non-GAAP financial measures are available in the supplemental information package in the Investors section of the company's website at crowncastle.com.

With that, let me turn the call over to Steven.

Steven Moskowitz

Thank you, Kris, and good afternoon, everyone.

I'm pleased to report that for the third quarter, our teams delivered solid operating and financial performance across our towers and fiber businesses, including small cells and fiber solutions, which allows us to reaffirm our full year 2024 outlook for adjusted EBITDA and AFFO. We continue to expect consolidated organic revenue growth of approximately 5% for the full year 2024, which includes growth of 4.5% in towers, 10% in small cells, and 2% in fiber solutions.

Our results in this quarter validate our ability to continue to deliver for our customers and shareholders while implementing the significant changes to how we operate and invest in our business that we announced in June. Our performance also demonstrates our ability to generate consistent underlying growth through wireless generational upgrade cycles and the ongoing demand for broadband connections.