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Compared to Estimates, Crown Castle (CCI) Q3 Earnings: A Look at Key Metrics
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For the quarter ended September 2023, Crown Castle (CCI - Free Report) reported revenue of $1.67 billion, down 4.5% over the same period last year. EPS came in at $1.77, compared to $0.97 in the year-ago quarter.
The reported revenue represents a surprise of -2.18% over the Zacks Consensus Estimate of $1.7 billion. With the consensus EPS estimate being $1.78, the EPS surprise was -0.56%.
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 40,091 estimated by four analysts on average.
Revenues- Site rental: $1.58 billion versus the five-analyst average estimate of $1.59 billion. The reported number represents a year-over-year change of +0.6%.
Revenues- Network services and other: $90 million versus $125.71 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a -49.4% change.
Site rental revenues- Towers: $1.07 billion versus the four-analyst average estimate of $1.08 billion. The reported number represents a year-over-year change of -0.9%.
Site rental revenues- Fiber: $503 million compared to the $510.21 million average estimate based on four analysts. The reported number represents a change of +3.9% year over year.
Revenues- Fiber: $507 million compared to the $526.99 million average estimate based on two analysts. The reported number represents a change of +4.1% year over year.
Network services and other revenues- Towers: $86 million compared to the $116.09 million average estimate based on two analysts. The reported number represents a change of -50.9% year over year.
Revenues- Towers: $1.16 billion versus the two-analyst average estimate of $1.18 billion. The reported number represents a year-over-year change of -7.9%.
Network services and other revenues- Fiber: $4 million versus the two-analyst average estimate of $5.19 million. The reported number represents a year-over-year change of +33.3%.
Site rental- Gross margin- Consolidated Total: $1.16 billion versus $1.18 billion estimated by four analysts on average.
Network Services & Other- Gross margin: $26 million compared to the $29.61 million average estimate based on three analysts.
Site rental gross margin- Towers: $838 million versus the three-analyst average estimate of $833.89 million.
Shares of Crown Castle have returned -3.7% over the past month versus the Zacks S&P 500 composite's -1.6% 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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Compared to Estimates, Crown Castle (CCI) Q3 Earnings: A Look at Key Metrics
For the quarter ended September 2023, Crown Castle (CCI - Free Report) reported revenue of $1.67 billion, down 4.5% over the same period last year. EPS came in at $1.77, compared to $0.97 in the year-ago quarter.
The reported revenue represents a surprise of -2.18% over the Zacks Consensus Estimate of $1.7 billion. With the consensus EPS estimate being $1.78, the EPS surprise was -0.56%.
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 40,091 estimated by four analysts on average.
- Revenues- Site rental: $1.58 billion versus the five-analyst average estimate of $1.59 billion. The reported number represents a year-over-year change of +0.6%.
- Revenues- Network services and other: $90 million versus $125.71 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a -49.4% change.
- Site rental revenues- Towers: $1.07 billion versus the four-analyst average estimate of $1.08 billion. The reported number represents a year-over-year change of -0.9%.
- Site rental revenues- Fiber: $503 million compared to the $510.21 million average estimate based on four analysts. The reported number represents a change of +3.9% year over year.
- Revenues- Fiber: $507 million compared to the $526.99 million average estimate based on two analysts. The reported number represents a change of +4.1% year over year.
- Network services and other revenues- Towers: $86 million compared to the $116.09 million average estimate based on two analysts. The reported number represents a change of -50.9% year over year.
- Revenues- Towers: $1.16 billion versus the two-analyst average estimate of $1.18 billion. The reported number represents a year-over-year change of -7.9%.
- Network services and other revenues- Fiber: $4 million versus the two-analyst average estimate of $5.19 million. The reported number represents a year-over-year change of +33.3%.
- Site rental- Gross margin- Consolidated Total: $1.16 billion versus $1.18 billion estimated by four analysts on average.
- Network Services & Other- Gross margin: $26 million compared to the $29.61 million average estimate based on three analysts.
- Site rental gross margin- Towers: $838 million versus the three-analyst average estimate of $833.89 million.
View all Key Company Metrics for Crown Castle here>>>Shares of Crown Castle have returned -3.7% over the past month versus the Zacks S&P 500 composite's -1.6% 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.