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Crown Castle International Corp. (CCI) Reports Q1 FFO of $1.05

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April 23, 2014 4:42 PM EDT

Crown Castle International Corp. (NYSE: CCI) reported Q1 FFO of $1.05, versus $0.90 reported last year. Revenue for the quarter came in at $876 million versus the consensus estimate of $863.89 million.

Crown Castle International Corp. sees Q2 2014 FFO of $0.98-$0.99.

Crown Castle International Corp. sees FY2014 FFO of $4.04-$4.08.

The following table sets forth Crown Castle's current Outlook for second quarter 2014 and full year 2014:

(in millions, except per share amounts)Second Quarter 2014Full Year 2014
Site rental revenues$740 to $745$2,983 to $2,993
Site rental cost of operations$230 to $235$926 to $936
Site rental gross margin$507 to $512$2,052 to $2,062
Adjusted EBITDA$516 to $521$2,066 to $2,081
Interest expense and amortization of deferred financing costs(a)$142 to $147$570 to $580
FFO(c)$283 to $288$1,276 to $1,291
AFFO(c)$326 to $331$1,346 to $1,361
AFFO per share(b)(c)$0.98 to $0.99$4.04 to $4.08
Net income (loss)$32 to $65$298 to $382
Net income (loss) per share - diluted(b)$0.10 to $0.19$0.89 to $1.15
Net income (loss) attributable to CCIC common stockholders$20 to $53$249 to $333
Net income (loss) attributable to CCIC common stockholders per share - diluted(b)$0.06 to $0.16$0.75 to $1.00
(a) See the reconciliation of "Components of interest expense and amortization of deferred financing costs" herein for a discussion of non-cash interest expense.
(b) Based on 333.3 million diluted shares outstanding as of March 31, 2014.
(c) Reflects the updated definitions as discussed and reconciled herein.

For earnings history and earnings-related data on Crown Castle International Corp. (CCI) click here.


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