Crown Castle chief Chris Hillabrant told a conference call with investors that continued spectrum investment in the U.S. and an expected FCC auction of approximately 800 MHz provide a supportive backdrop for future wireless network investment
In sum – what to know
Tower strategy sharpens — Crown Castle is now focused on being a best-in-class U.S. tower operator following the sale of its small-cell and fiber businesses.
Spectrum supports demand — Continued spectrum investment and an expected FCC auction of approximately 800 MHz provide a supportive backdrop for future wireless network investment.
SpaceX adds catalyst — Crown Castle says SpaceX’s terrestrial wireless ambitions could create tower leasing opportunities and encourage other operators to invest in their networks.
Crown Castle said mobile data growth, spectrum investment, and potential new wireless entrants are supporting the long-term outlook for U.S. tower infrastructure.
Crown Castle’s chief executive officer Chris Hillabrant told a conference call with investors that the company has made progress over the past year in sharpening its strategic focus and simplifying its business, following the completion of the sale of its small-cell and fiber businesses. The company is now focused on operating what Hillabrant described as a “best-in-class U.S. tower operator.”
As part of its efforts to improve its operating model, Crown Castle implemented cost-structure actions at the beginning of 2026 that resulted in $65 million of annualized run-rate operating cost savings.
The company is also continuing an enterprise-wide transformation program, including modernizing systems, optimizing its facilities footprint, and reducing corporate non-labor costs.
During the call, Hillabrant said Crown Castle has deployed a new project management system to improve the application-to-on-air process, while a new field services system is providing better information on assets and utilization.
Mobile data, spectrum underpin outlook
Hillabrant also said the long-term backdrop for wireless communications infrastructure is increasingly supportive. “Mobile data demand, one of the clearest indicators of demand for Crown Castle infrastructure, continues to grow at a healthy pace and is showing no signs of stopping,” he said, pointing to the emergence of AI-enabled applications, physical AI, and the acceleration of data-only wireless devices.
He also highlighted continued spectrum investment across the wireless industry. AT&T has acquired 3.45 GHz and 600 MHz spectrum, while Verizon has acquired AWS3 licenses. SpaceX, meanwhile, has acquired AWS4, H Block, and 800 MHz spectrum.
Hillabrant said these transactions demonstrate the wireless industry’s commitment to investing in and securing spectrum needed to support future terrestrial wireless network growth.
Crown Castle also expects the FCC to auction approximately 800 MHz of spectrum, including approximately 160 MHz of upper C-band spectrum expected by July 2027. Hillabrant said new spectrum deployment has historically been an important driver of network investment and that the current spectrum pipeline remains supportive of long-term infrastructure demand.
SpaceX could provide additional catalyst
Crown Castle also sees SpaceX’s wireless ambitions as a potential additional catalyst for the tower market. As part of its acquisition of 800 MHz spectrum, SpaceX had said it aims to become the first network operator to deploy both satellite and terrestrial spectrum. SpaceX is reportedly negotiating with U.S. tower companies to secure access to at least 80,000 cell sites to build out its terrestrial network for Starlink Mobile to become the fourth U.S. mobile operator.
Crown Castle believes this could provide an additional catalyst in two ways. First, the company could potentially invest directly by leasing towers to support SpaceX’s previously announced terrestrial network. Second, SpaceX could encourage other network operators to invest in their mobile networks to improve performance and coverage against new entrants.
Crown Castle is also continuing to expand its control of tower sites. The company expects to acquire the land under more than 400 towers through its ground lease buyout program in 2026, more than double the number acquired in 2025.
Hillabrant said owning the land under towers improves margins and operational control and allows Crown Castle to respond more quickly to customers.
Edge compute remains under evaluation
Crown Castle also sees potential opportunities in edge computing as demand for storage and compute accelerates while many large data-center deployments face multi-year construction and power-delivery delays.
The company has more than 100 edge sites deployed and several concurrent trials. Hillabrant said initial results have been promising, but Crown Castle is still evaluating whether edge solutions can scale.
The company believes tower sites with existing power and broadband connectivity could provide select distributed, move-in-ready locations.
Table of Contents
