- Crown Castle’s third-quarter AFFO (Adjusted Funds From Operations) per share was $1.84, beating the estimate of $1.78.
- FFO (Funds From Operations) per share was slightly lower at $1.69, compared to the estimate of $1.70.
- Total net revenue reached $1.65 billion, surpassing the estimate of $1.64 billion.
- The Towers segment revenue matched expectations at $1.12 billion.
- Fiber segment revenue was $535 million, exceeding the estimated $514.9 million.
- Site rental revenues were in line with estimates at $1.59 billion.
- Service and other revenue came in at $59 million, higher than the anticipated $51.1 million.
- FFO amounted to $737 million, slightly above the estimate of $730.5 million.
- AFFO reached $801 million, outperforming the estimate of $772.4 million.
- Adjusted EBITDA was $1.08 billion, surpassing the estimate of $1.06 billion.
- The company expects a $125 to $150 million asset write-down charge in the fourth quarter due to cancellations, impacting the full year 2024 net income outlook by $138 million at the midpoint.
- Excluding the impact of Sprint cancellations and increased non-recurring revenues, small cell organic growth is expected to be 10% in 2024.
- Core leasing activity for 2024 is projected to contribute $305 million to $335 million, broken down as follows:
- $105 million to $115 million from towers, down from $126 million in 2023.
- $65 million to $75 million from small cells, up from $28 million in 2023.
- $135 million to $145 million from fiber solutions, up from $120 million in 2023.
- Dan Schlanger, Crown Castle’s CFO, stated results are in line with expectations following a change in operational strategy in June.
- Analyst ratings include 7 buys, 14 holds, and 2 sells.
A look at Crown Castle Intl Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 2 | |
| Dividend | 5 | |
| Growth | 3 | |
| Resilience | 2 | |
| Momentum | 4 | |
| 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 Smartkarma Smart Scores, Crown Castle Intl is rated positively for its dividend and momentum, scoring 5 and 4 respectively out of 5. With a high dividend score of 5, investors may find the company attractive for potential income generation. The momentum score of 4 suggests that the company has positive market momentum, which could indicate an upward trend in its stock price in the future.
However, the company has lower scores for value, growth, and resilience, with scores of 2, 3, and 2 respectively. This may suggest that Crown Castle Intl may not be undervalued compared to its peers, and its growth prospects and resilience in challenging market conditions could be areas of concern for investors looking for long-term growth potential.
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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