- 2Q AFFO/Share Miss: Reported AFFO/share is $1.62, below the estimate of $1.66.
- FFO Figures: FFO per share came in at $1.54, slightly below the estimate of $1.58.
- Net Revenue: Net revenue was $1.63 billion, just above the estimate of $1.62 billion.
- Segment Revenues:
- Towers Segment: Revenue matched the estimate at $1.11 billion.
- Fiber Segment: Revenue was $519 million, below the estimate of $523.9 million.
- Site Rental Revenues: Achieved $1.58 billion, higher than the estimate of $1.55 billion.
- Service and Other Revenue: Reported $46 million, significantly below the estimate of $55.3 million.
- Overall FFO and AFFO: FFO totaled $669 million (estimate: $673.6 million) and AFFO totaled $704 million (estimate: $717.4 million).
- Adjusted EBITDA: Matched the estimate at $1.01 billion.
- Year Forecasts:
- FFO: $2.86 billion to $2.89 billion (estimate: $2.91 billion).
- AFFO: $3.01 billion to $3.06 billion (estimate: $3.03 billion).
- Site Rental Revenues: $6.32 billion to $6.36 billion (estimate: $6.35 billion).
- Adjusted EBITDA: $4.14 billion to $4.19 billion (estimate: $4.17 billion).
- Core Leasing Activity for Full Year 2024:
- Expected contribution: $305 million to $335 million.
- From towers: $105 million to $115 million (2023: $126 million).
- From small cells: $65 million to $75 million (2023: $28 million).
- From fiber solutions: $135 million to $145 million (2023: $120 million).
- Small Cell Organic Growth: Expected to be 10% in 2024, excluding Sprint cancellations and non-recurring revenues.
- Interest Expense: Expected to be $78 million to $123 million higher than 2023, due to incremental debt financing for discretionary capital expenditures.
- Operational Changes: Implemented changes in June, leading to field office and staffing reductions. This is expected to result in $100 million annualized run-rate operating cost savings.
- Analyst Recommendations: 7 buys, 14 holds, and 2 sells.
A look at Crown Castle Intl Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 2 | |
| Dividend | 5 | |
| Growth | 4 | |
| Resilience | 2 | |
| Momentum | 3 | |
| OVERALL SMART SCORE | 3.2 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
According to the Smartkarma Smart Scores, Crown Castle Intl has a promising long-term outlook based on its high scores in Dividend and Growth. With a strong score of 5 in Dividend and 4 in Growth, the company appears well-positioned to provide stable returns to investors while also exhibiting potential for expansion in the future. Despite lower scores in Value and Resilience, the company’s momentum score of 3 suggests a decent level of market momentum that could drive further growth.
Crown Castle International Corp., a real estate investment trust, operates and leases towers for wireless communications, managing infrastructure sites in the United States and Australia. With a focus on providing reliable wireless communication coverage, the company’s high Dividend and Growth scores indicate a positive outlook for investors seeking both income and potential capital appreciation in the long run.
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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