Crown Castle (CCI) Tops Q4 EPS by 1c, Revenues Beat; Raises FY19 Revenue Outlook

Crown Castle (NYSE: CCI) reported Q4 EPS of $0.44, $0.01 better than the analyst estimate of $0.43. Revenue for the quarter came in at $1.42 billion versus the consensus estimate of $1.4 billion.

"We closed out another year of growth with solid results in the fourth quarter and increased our Outlook for 2019, demonstrating the strong fundamentals across our business," stated Jay Brown, Crown Castle’s Chief Executive Officer. "We are excited about the opportunity we see to leverage the unmatched portfolio of more than 40,000 towers and 65,000 route miles of dense, high capacity fiber that we have built and acquired over the past two decades in the top U.S. markets where we see the greatest long-term demand. We continue to believe our ability to offer towers, small cells and fiber solutions, which are all integral components of communications networks and are shared among multiple tenants, provides us the best opportunity to generate significant growth while delivering high returns for our shareholders. Further, we believe that the U.S. is the best market for communications infrastructure ownership, and we are pursuing that compelling opportunity with our comprehensive offering. With the positive momentum we continue to see in our towers and fiber segments, we remain focused on investing in our business to generate future growth and delivering dividend per share growth of 7% to 8% per year."

GUIDANCE:

Crown Castle sees FY2019 revenue of $4.939-4.984 billion, versus the consensus of $5.68 billion.

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

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