Crown Castle (CCI - Free Report) reported $1.64 billion in revenue for the quarter ended March 2024, representing a year-over-year decline of 7.5%. EPS of $1.72 for the same period compares to $0.97 a year ago.
The reported revenue represents a surprise of +0.78% over the Zacks Consensus Estimate of $1.63 billion. With the consensus EPS estimate being $1.71, the EPS surprise was +0.58%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Crown Castle performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Ending Towers - Total: 40,000 versus 40,057 estimated by four analysts on average.
- Revenues- Site rental: $1.59 billion compared to the $1.57 billion average estimate based on four analysts. The reported number represents a change of -2.2% year over year.
- Revenues- Network services and other: $53 million versus $61.01 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -64.4% change.
- Site rental revenues- Towers: $1.07 billion versus the four-analyst average estimate of $1.06 billion. The reported number represents a year-over-year change of -1.2%.
- Site rental revenues- Fiber: $520 million compared to the $507.71 million average estimate based on four analysts. The reported number represents a change of -4.2% year over year.
- Network services and other revenues- Towers: $46 million compared to the $54.78 million average estimate based on three analysts. The reported number represents a change of -68.5% year over year.
- Network services and other revenues- Fiber: $7 million compared to the $3.23 million average estimate based on three analysts. The reported number represents a change of +133.3% year over year.
- Revenues- Towers: $1.11 billion compared to the $1.12 billion average estimate based on three analysts. The reported number represents a change of -9.2% year over year.
- Revenues- Fiber: $527 million compared to the $506.63 million average estimate based on three analysts. The reported number represents a change of -3.5% year over year.
- Site rental- Gross margin- Consolidated Total: $1.17 billion versus $1.15 billion estimated by four analysts on average.
- Network Services & Other- Gross margin: $21 million versus $303.06 million estimated by four analysts on average.
- Net Earnings Per Share (Diluted): $0.71 versus the four-analyst average estimate of $0.70.
View all Key Company Metrics for Crown Castle here>>>Shares of Crown Castle have returned -10.1% over the past month versus the Zacks S&P 500 composite's -1.1% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Crown Castle (CCI - Free Report) reported $1.64 billion in revenue for the quarter ended March 2024, representing a year-over-year decline of 7.5%. EPS of $1.72 for the same period compares to $0.97 a year ago.
The reported revenue represents a surprise of +0.78% over the Zacks Consensus Estimate of $1.63 billion. With the consensus EPS estimate being $1.71, the EPS surprise was +0.58%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Crown Castle performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Ending Towers - Total: 40,000 versus 40,057 estimated by four analysts on average.
- Revenues- Site rental: $1.59 billion compared to the $1.57 billion average estimate based on four analysts. The reported number represents a change of -2.2% year over year.
- Revenues- Network services and other: $53 million versus $61.01 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -64.4% change.
- Site rental revenues- Towers: $1.07 billion versus the four-analyst average estimate of $1.06 billion. The reported number represents a year-over-year change of -1.2%.
- Site rental revenues- Fiber: $520 million compared to the $507.71 million average estimate based on four analysts. The reported number represents a change of -4.2% year over year.
- Network services and other revenues- Towers: $46 million compared to the $54.78 million average estimate based on three analysts. The reported number represents a change of -68.5% year over year.
- Network services and other revenues- Fiber: $7 million compared to the $3.23 million average estimate based on three analysts. The reported number represents a change of +133.3% year over year.
- Revenues- Towers: $1.11 billion compared to the $1.12 billion average estimate based on three analysts. The reported number represents a change of -9.2% year over year.
- Revenues- Fiber: $527 million compared to the $506.63 million average estimate based on three analysts. The reported number represents a change of -3.5% year over year.
- Site rental- Gross margin- Consolidated Total: $1.17 billion versus $1.15 billion estimated by four analysts on average.
- Network Services & Other- Gross margin: $21 million versus $303.06 million estimated by four analysts on average.
- Net Earnings Per Share (Diluted): $0.71 versus the four-analyst average estimate of $0.70.
View all Key Company Metrics for Crown Castle here>>>Shares of Crown Castle have returned -10.1% over the past month versus the Zacks S&P 500 composite's -1.1% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
Free Report – The Bitcoin Profit Phenomenon
Zacks Investment Research has released a Special Report to help you pursue massive profits from the world’s first and largest decentralized form of money.
No guarantees for the future, but in the past three presidential election years, Bitcoin’s returns were as follows: 2012 +272.4%, 2016 +161.1%, and 2020 +302.8%.
Zacks predicts another significant surge. Click below for Bitcoin: A Tumultuous Yet Resilient History.
Download Now – Today It’s FREE >>
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