Leverage Expansion

Leverage remains robust at 6.3× net debt to EBITDA, comfortably inside the target investment‑grade range of 6.0–6.5×. Crown Castle maintains a 100 % fixed‑rate debt structure with a $4.5 billion credit facility and has announced a 2026 restructuring plan, though specific milestones were not disclosed. Management projects organic growth for the year at 3.4 %, excluding Sprint cancellations and DISH terminations. An additional $20 million decline in services, tied to softer activity in Q3, contributed to the earnings dip. The firm is pursuing edge‑compute trials with data‑center providers as a capital‑light revenue stream while continuing to expand ground‑lease purchases.