This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Crown Castle International Management Discusses Q2 2012 Results - Earnings Call Transcript

Of the other remaining capital expenditures, we've spent $7 million on the sustaining capital expenditures and $58 million on revenue-generating capital expenditures, the latter consisting of $30 million on existing sites and $28 million on the construction of new sites, primarily distributed antenna system deployments. Further, during the second quarter, we used $51 million of cash to purchase a portion of our 9% senior notes and 7.75% senior secured notes, including make-whole costs at prices we found attractive relative to these bonds' respective call dates.

We ended the second quarter of 2012 with total net debt-to-last quarter annualized adjusted EBITDA of 5.5x and adjusted EBITDA-to-cash interest expense of 3.1x. As you saw in our press release last night, we reached an agreement with T-Mobile USA to extend the remaining term on all 7,300 existing leases to 10 years and granted T-Mobile rights to upgrade certain towers with radio equipment in connection with their network modernization plan. We expect this agreement to contribute approximately $20 million in site rental revenue to our second half 2012 results.

Moving to the outlook for the third quarter and full year 2012 as shown on Slide 7 and 8. We expect site rental revenue of between $530 million and $535 million and adjusted EBITDA of between $387 million and $392 million for the third quarter of 2012.

Read the rest of this transcript for free on

4 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community


Chart of I:DJI
DOW 16,643.01 -11.76 -0.07%
S&P 500 1,988.87 +1.21 0.06%
NASDAQ 4,828.3250 +15.6170 0.32%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs