Crown Castle (CCI) Reports Q3 FFO of $1.56
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Financial Fact:
Gains (losses) on purchases and redemptions of debt: -10.27M
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Crown Castle (NYSE: CCI) reported Q3 FFO of $1.56, versus $1.47 reported last year. Revenue for the quarter came in at $1.49 billion versus the consensus estimate of $1.51 billion.
OUTLOOK
This Outlook section contains forward-looking statements, and actual results may differ materially. Information regarding potential risks which could cause actual results to differ from the forward-looking statements herein is set forth below and in Crown Castle's filings with the SEC.
The following table sets forth Crown Castle's current Outlook for full year 2020 and full year 2021.
| (in millions) | Full Year 2020 | Full Year 2021 | ||||
| Site rental revenues | $5,307 | to | $5,327 | $5,532 | to | $5,577 |
| Site rental cost of operations(a) | $1,485 | to | $1,505 | $1,538 | to | $1,583 |
| Net income (loss) | $799 | to | $839 | $957 | to | $1,037 |
| Adjusted EBITDA(b) | $3,409 | to | $3,429 | $3,584 | to | $3,629 |
| Interest expense and amortization of deferred financing costs(c) | $683 | to | $693 | $663 | to | $708 |
| FFO(b)(d) | $2,300 | to | $2,320 | $2,603 | to | $2,648 |
| AFFO(b)(d) | $2,577 | to | $2,597 | $2,883 | to | $2,928 |
| AFFO per share(b)(d) | $6.07 | to | $6.11 | $6.64 | to | $6.74 |
(a) Exclusive of depreciation, amortization and accretion.(b) See "Non-GAAP Financial Measures, Segment Measures and Other Calculations" for further information and reconciliation of this non-GAAP financial measure to net income (loss).(c) See reconciliation of "components of current outlook for interest expense and amortization of deferred financing costs" for a discussion of non-cash interest expense.(d) Attributable to CCIC common stockholders.
For earnings history and earnings-related data on Crown Castle (CCI) click here.
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