Crown Castle Inc.

Company facts

Industry

Real Estate Investment Trusts

Headquarters

Houston, Texas

Most recent report

8-K, filed Nov 5, 2026

Incorporated

Delaware

Filings on record

1,000+ filings

On EDGAR

CIK 1051470

Fiscal year ends

December

Filer status

Large accelerated filer

What to read: Sep 2026 10-Q

SECSift found 4 of 11 sections worth reading, with 0 positive, 12 notable, and 2 negative flags.

• Financial Statements (Item 1)

  Fiber sale closed, $8.4B net proceeds; massive debt paydown; DISH bankruptcy; $1B buyback; equity deficit deepens.
  Notable

  • 54% of towers are leased from AT&T and T-Mobile under master leases with purchase options.
  • Fiber sale closed May 1, 2026, net cash proceeds of $8.4B, used to cut debt by $6.4B.
  • New $4.5B revolver (2026 Revolver) signed May 2026, replacing 2016 facility; $4.0B undrawn as of Sep 2026.
  • Company repurchased $1.0B of stock in Q2 2026 under a new $1.0B authorization, using Fiber sale proceeds.
  • 2026 restructuring plan cut tower headcount ~20%; recorded $20M in charges YTD Sep 2026.
  Negative

  • DISH terminated its master lease; Crown Castle claims $3.5B+ owed, but DISH filed Chapter 11 in June 2026.

• Management's Discussion (Item 2)

  DISH default, fiber sale, debt paydown, revenue drop, restructuring, and concentration all demand attention.
  Notable

  • Debt weighted-average interest rate is 3.9% with 7-year maturity; 97% fixed rate as of Sep 30, 2026.
  • New $1B stock buyback completed in Q2 2026, repurchasing 11M shares; funded by fiber sale proceeds.
  • $2.3B in debt maturing within 12 months (including CP notes); $4.5B undrawn revolver available.
  • Operating cash flow dropped 50% to $1.1B for 9mo 2026, partly from a $275M lease-modification payment.
  Negative

  • 93% of site rental revenue from T-Mobile, AT&T, and Verizon for nine months ended Sep 30, 2026, extreme customer concentration.

• Risk Factors (Item 1A)

  Sale of Fiber Business completed; prior risks removed, but no new risks added.
  Notable

  • No material changes to other risk factors from the 2025 Form 10-K.
  • Fiber Business sale completed on May 1, 2026; related risk factors removed.

• Unregistered Sales and Repurchases (Item 2)

  Repurchased $1.0B in two months, exhausting a new $1.0B authorization by June 30, 2026.
  Notable

  • New $1.0B buyback program authorized May 1, 2026; fully exhausted by June 30, 2026.

What changed: Sep 2026 vs. Jun 2026

About 2% of CCI's Sep 2026 10-Q is new information. 7 paragraphs were added, 139 changed, and 18 removed. Below are the most important lines SECSift identified.

• Item 2 66
• Item 1 39
• Item 3 7
• Item 4 2
• Item 6 2
• Item 5 1