For the quarter ended December 2023, Crown Castle (CCI) reported revenue of $1.67 billion, down 5.1% over the same period last year. EPS came in at $1.82, compared to $0.95 in the year-ago quarter.
The reported revenue represents a surprise of +1.56% over the Zacks Consensus Estimate of $1.65 billion. With the consensus EPS estimate being $1.79, the EPS surprise was +1.68%.
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.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock’s price performance more accurately.
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 40,086 estimated by three analysts on average.
- Revenues- Site rental: $1.60 billion compared to the $1.58 billion average estimate based on four analysts. The reported number represents a change of +1.6% year over year.
- Revenues- Network services and other: $71 million versus $74.01 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -61.8% change.
- Site rental revenues- Towers: $1.08 billion compared to the $1.07 billion average estimate based on three analysts. The reported number represents a change of -0.6% year over year.
- Site rental revenues- Fiber: $524 million compared to the $507.14 million average estimate based on three analysts. The reported number represents a change of +6.5% year over year.
- Revenues- Fiber: $530 million versus the two-analyst average estimate of $503.75 million. The reported number represents a year-over-year change of +7.1%.
- Network services and other revenues- Towers: $65 million versus the two-analyst average estimate of $63.69 million. The reported number represents a year-over-year change of -64.5%.
- Revenues- Towers: $1.14 billion compared to the $1.14 billion average estimate based on two analysts. The reported number represents a change of -9.9% year over year.
- Network services and other revenues- Fiber: $6 million compared to the $3.32 million average estimate based on two analysts. The reported number represents a change of +100% year over year.
- Site rental- Gross margin- Consolidated Total: $1.20 billion compared to the $1.17 billion average estimate based on four analysts.
- Site rental gross margin- Fiber: $356 million versus the three-analyst average estimate of $337.47 million.
- Network Services & Other- Gross margin: $25 million versus $17.73 million estimated by three analysts on average.
View all Key Company Metrics for Crown Castle here>>>
Shares of Crown Castle have returned -6.6% over the past month versus the Zacks S&P 500 composite’s +2.4% 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.
Crown Castle Inc. (CCI) : Free Stock Analysis Report
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