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Crown Castle (CCI) Q1 Earnings: How Key Metrics Compare to Wall Street Estimates
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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.
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) Q1 Earnings: How Key Metrics Compare to Wall Street Estimates
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.