Revenue Declines, Beats

Crown Castle reported Q2 2026 results on 10 July 2026, delivering revenue of $1.01 billion—a 4.9 % year‑over‑year decline—yet surpassing consensus by $1.52 % at $992.89 million. Site‑rental revenues fell 4.1 % to roughly $938 million, while services and other revenue dropped 21.2 % to $41 million, below the $53.17 million estimate. Adjusted EBITDA was $675 million, down 4.3 % YoY; FFO per share hit $1.13, 13 % above the $1.00 consensus, and AFFO per share also reached $1.13, 13 % above the $1.03 estimate. Management raised its full‑year 2026 AFFO outlook to $1.95–$2.00 billion—per‑share $4.53–$4.65—up from $4.43. The AFFO midpoint expectation for 2026, the second half of 2026, and the first half of 2027 is $2.1 billion.