Crown Castle Inc. · NYSE:CCI
Crown Castle — Q4 2010 Earnings Presentation
11 slides from Crown Castle's earnings presentation, Jan 27, 2011
Slide 1: Fourth Quarter 2010 Earnings Conference Call
Fourth Quarter 2010 Earnings Conference Call January 27, 2011
Slide 2: Cautionary Information
Cautionary Information This presentation contains forward-looking statements and information that are based on management’s current expectations. Such statements may include projections, Outlook and estimates regarding (i) the growth of our business, (ii) demand for wireless infrastructure and our s
Slide 3: Q4 and Full Year 2010 Summary
Q4 and Full Year 2010 Summary Exceeded expectations throughout 2010 and outperformance continued in Q4 2010 2009 to 2010 Actual 10% 14% 16% 22% Growth Initial 2010 Growth Guidance(1) 7% 9% 9% Site Rental Site Rental Adjusted Recurring Revenue Gross Margin EBITDA Cash Flow Per Share Settlement of
Slide 4: Q4 2010 Highlights
Q4 2010 Highlights $ in millions Site Rental Revenues Site Rental Gross Margin Adjusted EBITDA $447 $403 $325 $311 $284 $264 Q4 '09 Q4 '10 Q4 '09 Q4 '10 Q4 '09 Q4 '10 4
Slide 5: Q4 2010 Highlights (cont'd)
Q4 2010 Highlights (cont’d) $ in millions, except per share amounts Recurring Cash Flow Recurring Cash Flow / Share $0.61 $176 $0.46 $132 Q4 '09 Q4 '10 Q4 '09 Q4 '10 5
Slide 6: Capital Deployment Summary
Capital Deployment Summary Q4 2010 Capital Deployment Land purchase program ($ in millions) Extended over 1,100 land leases and purchased land beneath 500+ sites during 2010 Currently own or control for more than 20 years the land beneath towers representing approximately 70% of site rental gr
Slide 7: Full Year 2010 Highlights
Full Year 2010 Highlights $ in millions Site Rental Revenue Site Rental Gross Margin Adjusted EBITDA $1,701 $1,234 $1,543 $1,172 $1,087 $1,013 2009 2010 2009 2010 2009 2010 Incremental margins of 90%+ attributable to continued focus on cost savings and significant operating leverage 7
Slide 8: Full Year 2010 Highlights (cont'd)
Full Year 2010 Highlights (cont’d) $ in millions, except per share amounts Recurring Cash Flow Recurring Cash Flow / Share $657 $2.29 $539 $1.88 2009 2010 2009 2010 8
Slide 9: Q1 2011 Outlook
Q1 2011 Outlook $ in millions Site Rental Revenues Site Rental Gross Margin $445 $328 to to $407 $450 $293 $333 $368 $258 Q1 '09 Q1 '10 Q1 '11E Q1 '09 Q1 '10 Q1 '11E Reported Results Midpoint of Outlook Issued on January 26, 2011 Adjusted EBITDA Recurring Cash Flow $305 $173 to to $274 $310 $149 $13
Slide 10: Full Year 2011 Outlook
Full Year 2011 Outlook $ in millions Site Rental Revenues Site Rental Gross Margin $1,815 $1,335 $1,701 to to $1,543 $1,234 $1,835 $1,087 $1,355 2009 2010 2011E 2009 2010 2011E Reported Results Midpoint of Outlook Issued on January 26, 2011 Adjusted EBITDA $1,248 $1,172 to $1,013 $1,268 2009 2010 20
Slide 11: Full Year 2011 Outlook (cont'd)
Full Year 2011 Outlook (cont’d) $ in millions Recurring Cash Flow Investment Capacity Total: Over $1.0 Billion Cash and $360 Revolver Availability as of 12/31/10 Projected Capital $275 Expenditures(1) $721 Midpoint to $657 $741 $539 Cash Flow Available $455 For Incremental Investments 2009 2010 2011