Crown Castle Inc. · NYSE:CCI
Crown Castle — Q2 2012 Earnings Presentation
9 slides from Crown Castle's earnings presentation, Jul 26, 2012
Slide 1: Second Quarter 2012 Earnings Conference Call
Second Quarter 2012 Earnings Conference Call July 26, 2012
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) our investment activities, including the impact of and return on our investme
Slide 3: Executive Summary
Executive Summary Exceeded Q2 2012 Outlook for site rental revenue, site rental gross margin, Adjusted EBITDA, and AFFO Continue to make good progress with the integration of NextG and WCP assets Raised full-year 2012 Outlook to reflect strong year-to-date results and our expectations for the
Slide 4: Q2 2012 Highlights
Q2 2012 Highlights ($ in millions) Site Rental Revenues Site Rental Gross Margin Adjusted EBITDA $518 $386 13% 15% $379 $457 18% $336 $320 Q2 '11 Q2 '12 Q2 '11 Q2 '12 Q2 '11 Q2 '12 4
Slide 5: Q2 2012 Highlights (cont'd)
Q2 2012 Highlights (cont’d) ($ in millions, except per share amounts) AFFO AFFO per Share $215 19% $0.74 $180 17% $0.63 Q2 '11 Q2 '12 Q2 '11 Q2 '12 5
Slide 6: Capital Deployment Summary
Capital Deployment Summary Q2 2012 Capital Deployment Revenue generating capital expenditures ($ in millions) Sustaining Capex $7 – $30 million on existing sites Revenue Generating $58 – $28 million on the construction of new sites, Capex $95 Capex primarily DAS nodes Land Purchases $29 Land pur
Slide 7: Q3 2012 Outlook
Q3 2012 Outlook ($ in millions) Site Rental Revenues Site Rental Gross Margin $530 $397 to to $437 $469 $347 $535 $321 $402 Q3 '10 Q3 '11 Q3 '12E Q3 '10 Q3 '11 Q3 '12E Reported Results Outlook Issued on July 25, 2012 Adjusted EBITDA AFFO $387 $211 to $188 to $306 $332 $161 $392 $216 Q3 '10 Q3 '11 Q3
Slide 8: Full Year 2012 Outlook
Full Year 2012 Outlook ($ in millions) Site Rental Revenues Adjusted EBITDA $2,083 $1,518 to to $1,701 $1,854 $1,307 $2,093 $1,172 $1,528 2010 2011 2012E 2010 2011 2012E Reported Results Outlook Issued on July 25, 2012 Site Rental Gross Margin $1,561 $1,372 to $1,234 $1,571 2010 2011 2012E 8
Slide 9: Full Year 2012 Outlook (cont'd)
Full Year 2012 Outlook (cont’d) ($ in millions) AFFO Investment Capacity(1) ~$350 $847 to $852 $737 $857 $631 $502 2010 2011 2012E 2012E Projected Estimated AFFO Capital Investment Midpoint Expenditures Capacity Reported Results Outlook Issued on July 25, 2012 (1) Excludes potential borrowing capaci