Oppenheimer Downgrades Crown Castle (CCI) to Perform

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Go back to Oppenheimer Downgrades Crown Castle (CCI) to Perform

Crown Castle (CCI) Misses Q3 EPS by 3c, Miss on Revenues; FY18 Revenues Outlook Above Consensus

October 18, 2017 4:21 PM EDT

Crown Castle (NYSE: CCI) reported Q3 EPS of $0.21, $0.03 worse than the analyst estimate of $0.24. Revenue for the quarter came in at $1.06 billion versus the consensus estimate of $1.07 billion.

GUIDANCE:

Crown Castle sees FY2018 revenue of $4.546-4.591 billion, versus the consensus of $4.45 billion.

HIGHLIGHTS FROM THE QUARTER

Site rental revenues. Site rental revenues grew approximately 10%, or $81 million, from third quarter 2016 to third quarter 2017, inclusive of approximately $41 million in Organic Contribution to Site Rental Revenues plus $52 million in contributions from acquisitions and other items, less a $12 million reduction in... More