Batya Levi
UBS Investment Bank, Research Division
Great. So that — it’s that time of the year. Maybe if you could just talk a little bit about what you’re focused on as we head into ’26.
Marc Montagner
Executive VP & CFO
Well, I think the focus is really to create long-term shareholder value. And the way to do it, I think, is growing the top line and capital allocation. I think that’s the way I think it’s going to go.
So, on the top line, I think you’ve recently seen we signed a new MLA with Verizon, 10-year transaction. I think it’s a good partnership there. I think we want to make it easier and faster for them to deploy equipment in terms of coverage and densification. And for us, for minimum commitment, we secure, I think, a minimum growth rate. So I think it’s a good agreement for both of us. That’s one way to take care of the top line. And capital allocation, obviously, I think if you really look, we could talk about it later, but it’s $1.9 billion roughly of EBITDA using a rough number, and you see $475 million for the dividend, $435 million for cash interest expenses, $35 million for cash taxes, $50 million in maintenance CapEx, $200 million in growth CapEx and you’re left with about $700 million of capital
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