Crown Castle International Corp. (CCI) Reports Q1 FFO of $1.05
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 2014 | Full 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.