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Crown Castle to Present at Nareit's REITweek: 2025 Investor Conference

Crown Castle to Present at Nareit's REITweek: 2025 Investor Conference

Yahoo21-05-2025

HOUSTON, May 21, 2025 (GLOBE NEWSWIRE) -- Crown Castle Inc. (NYSE: CCI) ("Crown Castle") announced today that Dan Schlanger, Crown Castle's Interim President and Chief Executive Officer, and Sunit Patel, Crown Castle's Executive Vice President and Chief Financial Officer, are scheduled to present on Wednesday, June 4, 2025 at 2:45 p.m. Eastern Time at Nareit's REITweek: 2025 Investor Conference. The presentation will be broadcast live over the Internet and is expected to last approximately 30 minutes. The live audio webcast link and presentation for the conference will be available on Crown Castle's website at www.crowncastle.com, where it will also be archived for replay for 30 days.
ABOUT CROWN CASTLE
Crown Castle owns, operates and leases more than 40,000 cell towers and approximately 90,000 route miles of fiber supporting small cells and fiber solutions across every major U.S. market. This nationwide portfolio of communications infrastructure connects cities and communities to essential data, technology and wireless service – bringing information, ideas and innovations to the people and businesses that need them. For more information on Crown Castle, please visit www.crowncastle.com.
CONTACTSSunit Patel, CFOKris Hinson, VP & TreasurerCrown Castle Inc.713-570-3050

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Full Year Highlights Organic growth of 12.3% year-over-year in Broadcast and Recurring Commercial Music Revenues; Revenues increased 12.0% to $386.9 million in 2025 from $345.4 million in 2024; Net income totaled $36.4 million, or $0.53 per share, in 2025 compared to a Net loss of $13.7 million, or $0.20 per share, in the same period last year; Adjusted EBITDA(1) improved 13.0% to $142.2 million in 2025 from $125.9 million in 2024. Adjusted EBITDA(1) by segment was $107.6 million or 42.3% of revenues for Broadcasting and Commercial Music, $42.1 million or 31.8% of revenues for Radio, and $(7.5) million for Corporate; Adjusted Net income(1) increased to $72.7 million, or $1.05 per share, in 2025 compared to $60.3 million, or $0.87 per share, in the same period last year; Cash flow from operating activities decreased 11.4% to $105.0 million, or $1.53 per share(1), in 2025 from $118.5 million, or $1.72 per share(1), in 2024; Adjusted free cash flow(1) rose 3.5% to $83.6 million, or $1.21 per share, in 2025 from $80.8 million, or $1.17 per share, in the same period last year; and Repurchased and cancelled 1,186,800 shares for a total of $9.1 million in 2025 compared to 557,500 shares for a total of $2.9 million in 2024. MONTREAL, June 10, 2025 (GLOBE NEWSWIRE) -- Stingray Group Inc. (TSX: RAY.A; RAY.B) (the 'Corporation'; 'Stingray'), an industry leader in music and video content distribution, business services, and advertising solutions, announced today its financial results for the fourth quarter and fiscal year ended March 31, 2025. Financial Highlights(in thousands of Canadian dollars, except per share data) Three months endedMarch 31 Twelve months endedMarch 31 2025 2024 % 2025 2024 % Revenues 96,008 83,665 14.8 386,891 345,428 12.0 Adjusted EBITDA(1) 35,027 29,423 19.0 142,199 125,855 13.0 Net income (loss) 7,655 (46,318) — 36,440 (13,741) — Per share – diluted ($) 0.11 (0.67) — 0.53 (0.20) — Adjusted Net income(1) 18,568 15,382 20.7 72,654 60,312 20.5 Per share – diluted ($)(1) 0.27 0.22 22.7 1.05 0.87 20.7 Cash flow from operating activities 39,720 44,263 (10.3) 105,040 118,526 (11.4) Adjusted free cash flow(1) 18,411 15,624 17.8 83,611 80,794 3.5(1) This is a non-IFRS measure and is not a standardized financial measure. The Corporation's method of calculating such financial measures may differ from the methods used by other issuers and, accordingly, the definition of these non-IFRS financial measures may not be comparable to similar measures presented by other issuers. Refer to 'Non-IFRS Measures' on page 5 of this news release for more information about each non-IFRS measure and refer to pages 6-7 for the reconciliations to the most directly comparable IFRS financial measures. Reporting on Stingray's fiscal 2025 and fourth quarter results, President, Co-Founder and CEO Eric Boyko stated: 'Fiscal 2025 was a highly successful year that checked many boxes in our profitable growth strategy. First, advertising revenues for our Broadcast and Recurring Commercial Music segment, which comprises our FAST channel and retail media advertising units, increased by more than 45% for a second consecutive year as advertisers increasingly relied on connected TVs to maximize their advertising dollars. Accordingly, we invested in our FAST channel platform in 2025, including the recent launch of channels like Cozy Café, Movie Music, Stargaze and Cityscapes, to position Stingray as the No. 1 supplier of musical and ambient channels for connected TVs. To take advantage of growing listening hours on FAST channels worldwide, we also introduced Stingray's Premium Connected TV Ad Inventory Network to enable alternative vendors to sell unsold inventory.' 'Second, our collaboration with IAB Canada and Leger to produce a breakthrough report about the evolution of in-store audio advertising in Canada has consolidated our standing as the de facto leader in this growing sector. We are true trailblazers in this market, evangelizing retailers about the untapped potential of in-store media ads, adding sales representatives and partners to increase inventory selling, and optimizing our pricing structure to improve monetization.' 'Third, double-digit organic growth for a second straight year reflects the judicious investment decisions Stingray has made to sustain revenue growth and drive profitability.' 'Finally, we reduced our net debt level by more than $27 million in 2025, closing the fiscal year with a Net Debt to Pro Forma Adjusted EBITDA ratio of 2.28 times and well within our target range.' 'In this encouraging context, Broadcasting and Commercial Music revenues increased 17.8% to $254.5 million in 2025, driven by higher FAST channel revenues, greater equipment and installation sales related to digital signage, and a positive foreign exchange impact,' Mr. Boyko added. 'Radio revenues improved 2.3% year-over-year to $132.3 million in 2025 mainly due to higher digital revenues. We are particularly pleased that our strategy to leverage the Radio sales team in Canada to sell in-store audio and video ads is beginning to deliver meaningful results. This latest facet of our plan helped to generate Radio revenue growth of nearly 4% in the fourth quarter despite a tight market environment.' 'Looking ahead to fiscal 2026, our capital allocation priorities are well-defined. We intend to sustain our momentum by re-investing in high-growth growth areas of our business; lowering our net debt level to a leverage ratio approaching 2.0 times; seeking acquisitions on an opportunistic basis; and continuing to reward shareholders with our well-established NCIB and dividend programs,' Mr. Boyko concluded. Fourth Quarter ResultsRevenues in the fourth quarter of 2025 increased $12.3 million, or 14.8%, to $96.0 million from $83.7 million in the fourth quarter of 2024. The growth was mainly due to an increase in FAST channel revenues and a positive foreign exchange impact. Revenues in Canada rose $1.2 million, or 2.7%, to $46.8 million from $45.6 million in the fourth quarter of 2024. The growth was mainly due to an increase in Radio revenue mostly driven by higher local sales. Revenues in the United States grew $11.8 million, or 45.0%, to $38.0 million from $26.2 million in the fourth quarter of 2024. The increase can be attributed to higher FAST channel revenues and a positive foreign exchange impact. Revenues in Other countries decreased $0.7 million, or 5.5%, to $11.2 million from $11.9 million in Q4 2024. The year-over-year decline was mainly due to lower in-store commercial revenues. Broadcasting and Commercial Music revenues in the fourth quarter of 2025 increased $11.2 million, or 20.9%, to $64.6 million from $53.4 million in the fourth quarter of 2024. The growth was primarily driven by higher FAST channel revenues and a positive foreign exchange impact. For the fourth quarter of 2025, Radio revenues improved $1.1 million, or 3.9%, to $31.4 million from $30.3 million in the same period of 2024. This increase was largely due to higher local revenues. Consolidated Adjusted EBITDA in the fourth quarter of 2025 increased $5.6 million, or 19.0%, to $35.0 million from $29.4 million in the fourth quarter of 2024. Adjusted EBITDA margin in the fourth quarter of 2025 rose to 36.5% from 35.2% in the same period last year. The increase in Adjusted EBITDA and Adjusted EBITDA margin was mainly due to higher revenues, partially offset by greater operating expenses related mainly to higher salaries. For the fourth quarter of 2025, net income totaled $7.7 million, or $0.11 per share, compared to a net loss of $46.3 million, or ($0.67) per share, in the fourth quarter of 2024. The variance was mainly due to a one-time impairment charge of $56.1 million on goodwill related to the Radio segment in the comparable period in 2024 and higher operating results in Q4 2025. These factors were partially offset by a foreign exchange loss and an unrealized loss on derivative financial instruments in the most recent quarter. Cash flow generated from operating activities amounted to $39.7 million in the fourth quarter of 2025 compared to $44.3 million in the fourth quarter of 2024. The decline was primarily due to a foreign exchange loss, higher income taxes paid, as well as greater acquisition, legal, restructuring and other costs. These factors were partially offset by improved operating results. Adjusted free cash flow generated in the fourth quarter of 2025 totaled $18.4 million compared to $15.6 million in the same period last year. The increase was mainly related to improved operating results, partially offset by higher income taxes paid. As of March 31, 2025, the Corporation had cash and cash equivalents of $14.0 million and credit facilities of $341.4 million. The credit facility consists of a $500 million revolving credit facility, of which $156.3 million was available. Full-Year ResultsFiscal 2025 revenues increased $41.5 million, or 12.0%, to $386.9 million from $345.4 million in 2024. The growth was largely due to higher FAST channel revenues, greater equipment and installation sales related to digital signage, and a positive foreign exchange impact. Adjusted EBITDA in fiscal 2025 improved by $16.3 million, or 13.0%, to $142.2 million from $125.9 million in 2024. Adjusted EBITDA margin in 2025 reached 36.8% compared to 36.4% in 2024. The increase in Adjusted EBITDA and Adjusted EBITDA margin was mainly driven by higher revenues, partially offset by greater operating expenses related mostly to higher salaries. Net income in fiscal 2025 totaled $36.4 million, or $0.53 per share, compared to a net loss of $13.7 million, or ($0.20) per share, in 2024. The variance was primarily due to a one-time impairment charge of $56.1 million on goodwill related to the Radio segment in the comparable period in 2024 and to higher operating results in 2025. These factors were partially offset by an unrealized loss on derivative financial instruments, a one-time settlement gain related to a trademark dispute in the comparable period in 2024, and a higher foreign exchange loss. Adjusted net income in fiscal 2025 amounted to $72.7 million, or $1.05 per share, compared to $60.3 million, or $0.87 per share, in 2024. The increase can mainly be attributed to higher operating results and lower interest expense, partially offset by a greater foreign exchange loss. Declaration of DividendThe Corporation declared a dividend of $0.075 per subordinate voting share, variable subordinate voting share and multiple voting share on March 25, 2025. The dividend will be payable on or around June 13, 2025, to shareholders on record as of May 30, 2025. The Corporation's dividend policy is at the discretion of the Board of Directors and may vary depending upon, among other things, our available cash flow, results of operations, financial condition, business growth opportunities and other factors that the Board of Directors may deem relevant. The dividends paid are designated as "eligible" dividends for the purposes of the Income Tax Act (Canada) and any corresponding provisions of provincial and territorial tax legislation. Business Highlights and Subsequent Events On April 15, 2025, the Corporation announce a partnership with Zoox, an autonomous mobility company. This collaboration enhances the rider experience in Zoox robotaxis with a diverse selection of curated music channels. On March 11, 2025, the Corporation announced the launch the launch of three of its popular FAST channels, Qello Concerts, Stingray Classica, and Movie Music, on Germany's largest TV platform for HD television. On February 5, 2025, the Corporation announced the launch of four new FAST (Free Ad-Supported Streaming TV) video channels. Cozy Café, Stargaze, and Movie Music have been selected by various platforms, including LG Channels, Samsung TV Plus, as part of their new channel offerings. On January 20, 2025, the Corporation announced the launch of five video channels on the ScreenHits TV in-car entertainment platform, available in Renault Grand Koleos, Nio and Porsche (Cayenne, Taycan, Panamera and 911) vehicles with upcoming plans for a worldwide release. On January 9, 2025, the Corporation announced that Samsung TV Karaoke, powered by the Stingray Karaoke app, has received the CES Innovation Award 2025 in the Content & Entertainment category. Conference CallThe Corporation will hold a conference call tomorrow, June 11, 2025, at 10:00 AM (ET) to review its financial results. Interested parties can join the call by dialing 289-514-5100 (Toronto) or 1-800-717-1738 (toll free). A rebroadcast of the conference call will be available until midnight, July 11, 2025, by dialing 289-819-1325 or 888-660-6264 and entering passcode 11999. About StingrayStingray (TSX: RAY.A; RAY.B), a global music, media, and technology company, is an industry leader in TV broadcasting, streaming, radio, business services, and advertising. Stingray provides an array of global music, digital, and advertising services to enterprise brands worldwide, including audio and video channels, 97 radio stations, subscription video-on-demand content, FAST channels, karaoke products and music apps, and in-car and on-board infotainment content. Stingray Business, a division of Stingray, provides commercial solutions in music, in-store advertising solutions, digital signage, and AI-driven consumer insights and feedback. Stingray Advertising is North America's largest retail audio advertising network, delivering digital audio messaging to more than 30,000 major retail locations. Stingray has close to 1,000 employees worldwide and reaches 540 million consumers in 160 countries. For more information, visit Forward-Looking InformationThis news release contains forward-looking information within the meaning of applicable Canadian securities law. Such forward-looking information includes, but is not limited to, information with respect to Stingray's goals, beliefs, plans, expectations, anticipations, estimates and intentions. Forward-looking information is identified by the use of terms and phrases such as "may", "would", "should", "could", "expect", "intend", "estimate", "anticipate", "plan", "foresee", "believe", and "continue", or the negative of these terms and similar terminology, including references to assumptions. Please note, however, that not all forward-looking information contains these terms and phrases. Forward-looking information is based upon a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond Stingray's control. These risks and uncertainties could cause actual results to differ materially from those that are disclosed in or implied by such forward-looking information. These risks and uncertainties include, but are not limited to, the risk factors identified in Stingray's Annual Information Form for the year ended March 31, 2025, which is available on SEDAR at Consequently, all of the forward-looking information contained herein is qualified by the foregoing cautionary statements, and there can be no guarantee that the results or developments that Stingray anticipates will be realized or, even if substantially realized, that they will have the expected consequences or effects on Stingray's business, financial condition or results of operation. Unless otherwise noted or the context otherwise indicates, the forward-looking information contained herein is provided as of the date hereof, and Stingray does not undertake to update or amend such forward-looking information whether as a result of new information, future events or otherwise, except as may be required by applicable law. Non-IFRS MeasuresThe Corporation believes that Adjusted EBITDA and Adjusted EBITDA margin are important measures when analyzing its operating profitability without being influenced by financing decisions, non-cash items and income taxes strategies. Comparison with peers is also easier as companies rarely have the same capital and financing structure. The Corporation believes that Adjusted Net income and Adjusted Net income per share are important measures as it shows stable results from its operation which allows users of the financial statements to better assess the trend in the profitability of the business. The Corporation believes that Adjusted free cash flow and Adjusted free cash flow per share are important measures when assessing the amount of cash generated after accounting for capital expenditures and non-core charges. It demonstrates cash available to make business acquisitions, pay dividend and reduce debt. The Corporation believes that Net debt and Net debt to Pro Forma Adjusted EBITDA are important to analyse the company's debt repayment capacity on an annualized basis, taking into consideration the annualized adjusted EBITDA of acquisitions made during the last twelve months. Each of these non-IFRS financial measures is not an earnings or cash flow measure recognized by International Financial Reporting Standards (IFRS) and does not have a standardized meaning prescribed by IFRS. This method of calculating such financial measures may differ from the methods used by other issuers and, accordingly, our definition of these non-IFRS financial measures may not be comparable to similar measures presented by other issuers. Investors are cautioned that non-IFRS financial measures should not be construed as an alternative to net income determined in accordance with IFRS as indicators of our performance or to cash flows from operating activities as measures of liquidity and cash flows. Reconciliation of Net income to Adjusted EBITDA, Adjusted Net income, LTM Adjusted EBITDA and Pro Forma Adjusted EBITDA 3 months 12 months (in thousands of Canadian dollars) March 31,2025Q4 2025 March 31, 2024Q4 2024 March 31,2025Fiscal 2025 March 31, 2024Fiscal 2024 Net income (loss) 7,655 (46,318 ) 36,440 (13,741 ) Impairment on goodwill – 56,119 – 56,119 Net finance expense 9,516 3,736 42,416 28,883 Change in fair value of investments 2 (106 ) (54 ) 18 Income taxes 977 3,639 10,982 16,030 Depreciation and write-off of property and equipment 1,941 1,183 8,090 8,342 Depreciation of right-of-use assets 1,020 1,192 4,097 4,420 Amortization of intangible assets 5,115 4,124 18,583 17,371 Share-based compensation 111 93 409 435 Performance and deferred share unit expense 5,640 4,711 10,181 6,841 Share of results of investments in associates (210 ) (354 ) 3,381 1,166 Gain on disposal of an investment (845 ) – (845 ) – Other income (24 ) – (24 ) – Acquisition, legal, restructuring and other expenses 4,129 1,404 8,543 (29 ) Adjusted EBITDA 35,027 29,423 142,199 125,855 Adjusted EBITDA margin 36.5% 35.2% 36.8% 36.4% Net income (loss) 7,655 (46,318 ) 36,440 (13,741 ) Adjusted for: Impairment on goodwill – 56,119 – 56,119 Unrealized loss (gain) on derivative instruments 1,010 (2,252 ) 9,267 (1,431 ) Amortization of intangible assets 5,115 4,124 18,583 17,371 Change in fair value of investments 2 (106 ) (54 ) 18 Share-based compensation 111 93 409 435 Performance and deferred share unit expense 5,640 4,711 10,181 6,841 Share of results of investments in associates (210 ) (354 ) 3,381 1,166 Gain on disposal of an investment (845 ) – (845 ) – Other income (24 ) – (24 ) – Acquisition, legal, restructuring and other expenses 4,129 1,404 8,543 (29 ) Income taxes on above noted adjustments (4,015 ) (2,039 ) (13,227 ) (6,437 ) Adjusted Net income 18,568 15,382 72,654 60,312 Average number of shares outstanding (diluted) 68,807 68,811 68,871 69,104 Adjusted Net income per share (diluted) 0.27 0.22 1.05 0.87 (in thousands of Canadian dollars) March 31,2025Fiscal 2025 March 31,2024Fiscal 2024 LTM Adjusted EBITDA 142,199 125,855 Permanent cost-saving initiatives 1,046 2,758 Adjusted EBITDA for the months prior to the business acquisition of The Coda Collection which are not already reflected in the results 150 – Pro Forma Adjusted EBITDA 143,395 128,613 Reconciliation of Cash Flow from Operating Activities to Adjusted Free Cash Flow 3 months 12 months (in thousands of Canadian dollars) March 31,2025Q4 2025 March 31, 2024Q4 2024 March 31,2025Fiscal 2025 March 31, 2024Fiscal 2024 Cash flow from operating activities 39,720 44,263 105,040 118,526 Add / Less : Acquisition of property and equipment (2,057 ) (2,351 ) (7,194 ) (7,812 ) Acquisition of intangible assets other than internally developed intangible assets (1,183 ) (355 ) (2,680 ) (1,231 ) Addition to internally developed intangible assets (1,371 ) (1,148 ) (5,184 ) (5,001 ) Interest paid (5,287 ) (6,641 ) (23,781 ) (25,927 ) Repayment of lease liabilities (954 ) (929 ) (4,295 ) (4,351 ) Net change in non-cash operating working capital items (17,094 ) (17,661 ) 6,663 5,983 Unrealized loss (gain) on foreign exchange 2,508 (958 ) 6,499 636 Acquisition, legal, restructuring and other expenses 4,129 1,404 8,543 (29 ) Adjusted free cash flow 18,411 15,624 83,611 80,794 Calculation of Net Debt and Net Debt to Pro Forma Adjusted EBITDA Ratio (in thousands of Canadian dollars) March 31, 2025 March 31, 2024 Credit facilities 341,365 338,712 Subordinated debt – 25,579 Cash and cash equivalents (13,984 ) (9,606 ) Net debt 327,381 354,685 Net debt to Pro Forma Adjusted EBITDA 2.28 2.76 Note to readers: Consolidated financial statements and Management's Discussion & Analysis of Operating Results and Financial Position are available on the Corporation's website at and on SEDAR at Contact InformationMathieu PéloquinSenior Vice-President, Marketing and CommunicationsStingray(514) 664-1244, ext. 2362mpeloquin@ in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

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