Crown Castle Surfs the Wireless Build Out Tsunami

 By John Celentano, Inside Towers Business Editor Crown Castle International (NYSE: CCI) is enjoying “outsized” results as its major mobile network operator tenants – T-Mobile, AT&T, Verizon – accelerate their 5G deployments. This high level of network infrastructure construction is driving cell site modifications and upgrades to existing sites among the Big 3 MNOs. Newcomer DISH Network is adding new cell sites on CCI’s existing towers.

Through the nine months ending September 30, CCI’s 2021 consolidated site rental revenue was nearly $4.3 billion, up 7 percent over the same period in 2020. Services revenue grew 16 percent YoY to $441 million. Adjusted EBITDA reached $2.8 billion, a 12 percent increase and adjusted funds from operations (AFFO) grew 20 percent to $2.2 billion. Continue Reading