We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Here's What Key Metrics Tell Us About Crown Castle (CCI) Q2 Earnings
Read MoreHide Full Article
For the quarter ended June 2023, Crown Castle (CCI - Free Report) reported revenue of $1.87 billion, up 7.7% over the same period last year. EPS came in at $2.05, compared to $0.97 in the year-ago quarter.
The reported revenue represents a surprise of +0.20% over the Zacks Consensus Estimate of $1.86 billion. With the consensus EPS estimate being $1.99, the EPS surprise was +3.02%.
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: 40000 versus the four-analyst average estimate of 40092.25.
Revenues- Site rental: $1.73 billion compared to the $1.68 billion average estimate based on four analysts. The reported number represents a change of +10.3% year over year.
Site rental revenues- Towers: $1.08 billion versus the four-analyst average estimate of $1.09 billion. The reported number represents a year-over-year change of +0.2%.
Site rental revenues- Fiber: $648 million versus $595.57 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +32.5% change.
Revenues- Network services and other: $139 million versus the four-analyst average estimate of $180.17 million. The reported number represents a year-over-year change of -16.8%.
Revenues- Fiber: $663 million compared to the $593.29 million average estimate based on three analysts. The reported number represents a change of +34.8% year over year.
Network services and other revenues- Towers: $124 million versus the three-analyst average estimate of $167.49 million. The reported number represents a year-over-year change of -24.4%.
Revenues- Towers: $1.20 billion versus $1.27 billion estimated by three analysts on average. Compared to the year-ago quarter, this number represents a -3.1% change.
Network services and other revenues- Fiber: $15 million versus $3.07 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +400% change.
Site rental- Gross margin- Consolidated Total: $1.31 billion versus $1.27 billion estimated by four analysts on average.
Network Services & Other- Gross margin: $44 million compared to the $61.41 million average estimate based on four analysts.
Site rental gross margin- Towers: $837 million versus the three-analyst average estimate of $857.14 million.
Shares of Crown Castle have returned -1.7% over the past month versus the Zacks S&P 500 composite's +3.4% 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.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Here's What Key Metrics Tell Us About Crown Castle (CCI) Q2 Earnings
For the quarter ended June 2023, Crown Castle (CCI - Free Report) reported revenue of $1.87 billion, up 7.7% over the same period last year. EPS came in at $2.05, compared to $0.97 in the year-ago quarter.
The reported revenue represents a surprise of +0.20% over the Zacks Consensus Estimate of $1.86 billion. With the consensus EPS estimate being $1.99, the EPS surprise was +3.02%.
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: 40000 versus the four-analyst average estimate of 40092.25.
- Revenues- Site rental: $1.73 billion compared to the $1.68 billion average estimate based on four analysts. The reported number represents a change of +10.3% year over year.
- Site rental revenues- Towers: $1.08 billion versus the four-analyst average estimate of $1.09 billion. The reported number represents a year-over-year change of +0.2%.
- Site rental revenues- Fiber: $648 million versus $595.57 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +32.5% change.
- Revenues- Network services and other: $139 million versus the four-analyst average estimate of $180.17 million. The reported number represents a year-over-year change of -16.8%.
- Revenues- Fiber: $663 million compared to the $593.29 million average estimate based on three analysts. The reported number represents a change of +34.8% year over year.
- Network services and other revenues- Towers: $124 million versus the three-analyst average estimate of $167.49 million. The reported number represents a year-over-year change of -24.4%.
- Revenues- Towers: $1.20 billion versus $1.27 billion estimated by three analysts on average. Compared to the year-ago quarter, this number represents a -3.1% change.
- Network services and other revenues- Fiber: $15 million versus $3.07 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +400% change.
- Site rental- Gross margin- Consolidated Total: $1.31 billion versus $1.27 billion estimated by four analysts on average.
- Network Services & Other- Gross margin: $44 million compared to the $61.41 million average estimate based on four analysts.
- Site rental gross margin- Towers: $837 million versus the three-analyst average estimate of $857.14 million.
View all Key Company Metrics for Crown Castle here>>>Shares of Crown Castle have returned -1.7% over the past month versus the Zacks S&P 500 composite's +3.4% 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.