Crown Castle ups AFFO outlook, reduces staffing levels [Seeking Alpha]
Crown Castle Inc. (CCI)
Last crown castle inc. earnings: 4/29 04:15 pm
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Source: Seeking Alpha
The firm now expects 2024 AFFO per share of $6.91-$7.02, up from its previous range of $6.85-$6.97. The company also sees adjusted core profit of $4.14B-$4.19B. CCI also said it will reduce discretionary capital expenditures going forward, and believes it can improve capital efficiency while achieving annual organic revenue growth of 2% in 2024. Crown Castle ( CCI ) expects to reduce gross capital expenditures in its fiber segment by $275 million to $325 million in 2024. The layoffs and office closures and are expected to generate ~$100 million in annualized run-rate cost savings, ~$60 million of which is expected to benefit full year 2024 results. Crown Castle ( CCI ) has also identified opportunities for significant future enterprise fiber and small cell demand from locations that are on or close to the company's existing high quality fiber footprint, and believes there is an opportunity in small cells to increase the number of collocation nodes and increase returns on new
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News
- DataVerge Opens Second Meet-Me Room to Support Growth and Provide an Always-On Connection [Yahoo! Finance]Yahoo! Finance
- These 3 REITs Just Received Price Target Increases [Yahoo! Finance]Yahoo! Finance
- Crown Castle Inc. (NYSE: CCI) had its "outperform" rating re-affirmed by analysts at Raymond James. They now have a $126.00 price target on the stock, up previously from $124.00.MarketBeat
- Crown Castle (CCI) Plans Operational Changes, Revises '24 View [Yahoo! Finance]Yahoo! Finance
- Crown Castle cuts annual profit forecast, reduces workforce amid fiber business review [Yahoo! Finance]Yahoo! Finance
CCI
Earnings
- 4/17/24 - Beat
CCI
Sec Filings
- 6/11/24 - Form 8-K
- 6/3/24 - Form 4
- 5/30/24 - Form 8-K/A
- CCI's page on the SEC website