The Q1 AFFO/share achieved by Crown Castle surpassed estimates with $1.72 as opposed to the estimated $1.71.
The company’s FFO per share in Q1 also hit above expectation with $1.71, beating the $1.70 estimate.
Crown Castle reported a net revenue of $1.64 billion, topping the estimation of $1.63 billion.
The company’s Towers segment revenue didn’t quite match the estimate of $1.12 billion, coming in at $1.11 billion.
Meanwhile, their Fiber segment revenue exceeded expectation, reporting $527 million against the estimated $523.6 million.
Crown Castle’s Site rental revenues hit the mark at $1.59 billion, surpassing the estimated $1.58 billion.
However, their Service and other revenue came $53 million, falling short of the $60.3 million estimate.
On a positive note, the FFO and AFFO figures for the company came in at $742 million and $749 million respectively, both exceeding their respective estimates ($733.5 million for FFO and $742.5 million for AFFO).
The Adjusted Ebitda also beat the forecast with $1.04 billion against an estimated $1.03 billion.
Looking at the year forecast, Crown Castle expects an AFFO/share between $6.85 to $6.97, which aligns with an estimate of $6.93.
Regarding the FFO, the company continues to aim between $2.95 billion to $3.00 billion, close to the estimated $2.98 billion.
Crown Castle maintains their forecast for Site rental revenues within $6.35 billion to $6.39 billion, which is slightly under the estimate of $6.4 billion.
Lastly, the projected adjusted Ebitda is betwen $4.14 billion to $4.19 billion, aligning with the estimate of $4.17 billion.
Crown Castle’s Interim President and CEO, Tony Melone, expressed satisfaction over the staff’s performance and the first quarter’s solid financial results. He also stated that the company is on track for their full year 2024 outlook.
Similarly, Crown Castle’s Chief Financial Officer, Dan Schlanger, affirmed that the company remains on track for their full year guidance.
A look at Crown Castle Intl Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 2 | |
| Dividend | 5 | |
| Growth | 4 | |
| Resilience | 2 | |
| Momentum | 3 | |
| OVERALL SMART SCORE | 3.2 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
Based on the Smartkarma Smart Scores, Crown Castle International Corp. is believed to have a positive long-term outlook. The company’s high dividend score of 5 indicates a strong track record of distributing profits to shareholders. Additionally, a growth score of 4 suggests potential for expanding its business operations. However, with value and resilience scores of 2, there may be some concerns regarding the company’s valuation and ability to weather economic uncertainties. Momentum, scoring a 3, shows a moderate level of market excitement and interest in Crown Castle International Corp.
Crown Castle International Corp. operates as a real estate investment trust, managing and leasing towers and infrastructure for wireless communications. With a presence in the United States and Australia, the company offers coverage and infrastructure for wireless communication services. The combination of strong dividends, growth potential, and market momentum indicates a promising future for Crown Castle International Corp., despite some concerns about its valuation and resilience.
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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