DivestmentMay 1, 2026, 09:27 AM
CCI Completes $8.5B Divestment; Authorizes $1B Buyback; Updates 2026 Outlook
AI Summary
Crown Castle Inc. completed the previously announced sale of its fiber solutions and small cells businesses for aggregate cash proceeds of $8.5 billion. The company plans to use a portion of these proceeds for a $1.0 billion stock repurchase program and to reduce outstanding debt by over $7.0 billion. Following the divestment, Crown Castle updated its full-year 2026 outlook, projecting increased net income, FFO, and AFFO, primarily due to earlier debt repayment. Additionally, Christopher D. Levendos resigned from his role as Executive Vice President and Chief Operating Officer—Fiber.
Key Highlights
- Completed sale of fiber and small cell businesses for $8.5 billion.
- Board authorized a stock repurchase program of up to $1.0 billion.
- Expects to reduce outstanding debt by more than $7.0 billion.
- Full-year 2026 Net Income outlook midpoint increased by $50 million.
- Full-year 2026 AFFO outlook midpoint increased by $50 million.
- Full-year 2026 interest expense expected to decrease by $160 million.
- Christopher D. Levendos resigned as EVP and COO—Fiber.