Crown Castle Inc. · NYSE:CCI
Crown Castle — Q2 2021 Earnings Presentation
12 slides from Crown Castle's earnings presentation, Jul 22, 2021
Slide 1: Second Quarter 2021 Earnings Conference Call
CROWN ww CASTLE July 22, 2021 Second Quarter 2021 Earnings Conference Call The pathway to possible.
Slide 2: Cautionary Language
Cautionary Language This presentation contains forward-looking statements and information (“Forward-Looking Statements”) that are based on our management's current expectations. Statements that are not historical facts are hereby identified as Forward-Looking Statements. In addition, words such as “
Slide 3: Executive Summary
Executive Summary Asset Overview * 5G deployment is driving highest level of Tower activity in our history, supporting our expected 12% AFFO (Q) @ per share growth for full year 2021. > 40K Towers ~ 80K Small Cells ~ 80K Route Miles of Fiber * Since expanding fiber and small cell strategy in 2017, w
Slide 4: Snapshot of Towers and Fiber Segments
Snapshot of Towers and Fiber Segments (towers oO Fiber 22 11.0% $22.9b 12 Yrs 7.3% $15.1b 4yYrs < ° . . . 2 gO) Invested Capital? Weighted Average Life of Tenancy Cash Yield Capital Investment Towers Cash Yield Over Time 0 Combined investment of nearly 11% $40bn in shared infrastructure assets that
Slide 5: Collective View of Fiber Markets
Collective View of 5 Fiber Markets Ih Key Movement * Deployed -2k nodes and ~500 miles of fiber. * Delivered an incremental yield of ~7% on ~$200 million of total capital spent. * Contribution from both small cells and fiber solutions is generating compelling returns. + Demonstrates our ability to d
Slide 6: Fiber Market Cohort Analysis Q2 2021
Fiber Market Cohort Analysis Q2 2021 == Initial Acquired Yield Oo Cash Yield@ O Nodes per Mile Gs) 18.8% 9, 9.5% 10.2% 8.0% 9.6% 6.2% =o | So 5.6% 7.0% Los Angeles Philadelphia Denver Phoenix Orlando Invested Capital: $1.5b $0.8b <$0.1b $0.1b $0.1b Route Miles: 7.0k 4.6k 0.2k 0.7k 0.5k Weighted Avg.
Slide 7: Q2 2021 Results
Q2 2021 Results ($ in millions, except per share amounts) Site Rental Revenues $1,425 $1,319 $958 $831 4P SIGS / 5 ® $127 / 15% Organic Contribution 5% Q2 2020 Q2 2021 Q2 2020 Q2 2021 Results Results Results Results (oe CROWN _ 1._ See Supplemental Information Package for further information on "Org
Slide 8: Full Year 2021 Outlook
Full Year 2021 Outlook ($ in millions) Site Rental Revenues Adjusted EBITDA AFFO $5,672 $5,677 to to $5,717 $5,722 $3,764 $5,320 to 3,809 $ $2,943 to 4$5M vs. $2,988 Previous Outlook” ‘Se we. $2,592 47% YoY $3,420 BieviOUSN 4$20M vs. Growth Outlook' Previous 0) 4 11% YoY Ghillesis Sri” 114% YoY Grow
Slide 9: 2021 Outlook for Site Rental Revenue Growth
2021 Outlook for Site Rental Revenue Growth ($ in millions) $90-$100 $360-$390 7 $75-$95 <$5 $360-$405 $280-$320 ($180)-($160) New Leasing Plus: Less: Organic Contribution Change in Plus: Growth in Activity Escalator Non-Renewal to Site Rental Straight-Line Acquisitions Site Rental Revenues Adjustme
Slide 10: 2021 Outlook for AFFO Growth
2021 Outlook for AFFO Growth ($ in millions) $90-$120 $360-$405 $280-$320 $90-$120 ($140)-($110) Organic Increase in Change in Services Other? 2021E Contribution to Site Expenses Contribution AFFO Growth Rental Revenues Previous fcrete $295-$335 ($125)-($95) $45-$75 $90-$120 $340-$385 utloo} 1 Based
Slide 11: Supplemental Definitions, Calculations, and Additional Detail
Supplemental Definitions, Calculations, and Additional Detail HISTORICAL TOWERS PORTFOLIO YIELDS” (dollars in millions) 2000 2001 2002 2003 2004 2005, 2006 2007 2008 2009 2010 2011 Cash site rental revenues $ 238 $ 341 $ 405 $ 438 $ 488 $ S44 $ 632 $ 1176 $ 1281 $ 1359 $ 1439 $ 1,510 Cash site renta
Slide 12: Supplemental Definitions, Calculations, and Additional Detail (cont'd)
Supplemental Definitions, Calculations, and Additional Detail (cont’d) The following definitions can be utilized with the Fiber Market Cohort Analysis on pages 5 and 6: . Cash Yield: Represents cash site rental revenues minus cash site rental costs of operations, divided by invested capital. . Inves