Crown Castle said site rental revenues for Q1 2024 were $1,588 million, down 2% from $1,624 million a year earlier, and net income was $311 million, down 26% from $418 million.

1. 01

   Crown Castle said site rental revenues for Q1 2024 were $1,588 million, down 2% from $1,624 million a year earlier, and net income was $311 million, down 26% from $418 million.

2. 02

   The company said site rental revenues fell $36 million in Q1, as an increase of about $17 million in Organic Contribution to Site Rental Billings was more than offset by a $24 million decrease in straight-lined revenues and a $30 million decrease in amortization of prepaid rent.

3. 03

   Crown Castle said Adjusted EBITDA for Q1 was $1,036 million, down 6% from $1,104 million a year earlier, and AFFO was $749 million ($1.72 per share), down 10%. The company cited the lower contribution from Adjusted EBITDA and higher interest expense as factors in the AFFO decline.

4. 04

   Crown Castle said it maintained its full-year 2024 outlook, with discretionary capital expenditures of $1.5 billion to $1.6 billion and Adjusted EBITDA of $4,138 million to $4,188 million.

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AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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