Wireless tower operator Crown Castle lowers full year net income forecast [Yahoo! Finance]
Crown Castle Inc. (CCI)
Last crown castle inc. earnings: 4/29 04:15 pm
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Source: Yahoo! Finance
to slower tower leasing activity in wake of wireless carriers tightening budgets. The company said it has canceled 7000 greenfield small cell nodes, likely leading to an asset write-down charge of $125 to $150 million in the fourth quarter, which will affect the annual net income forecast. Inflation and rising interest rates have forced wireless carriers to tighten their budgets following the initial rollout of the 5G network, impacting demand at tower leasing companies like Crown Castle. The company lowered its 2024 net income forecast to $1.02 billion from the previously announced $1.16 billion but maintained its site-rental revenue and adjusted funds from operations (AFFO) outlook. Crown Castle, which owns about 40,000 towers, derives the majority of its revenue from leasing out tower infrastructure to wireless carriers such as AT&T, T-Mobile US and Verizon Communications in the United States on a long-term basis. Fiber network owner Zayo Group and buyout firm TPG are com
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CCI
News
- Crown Castle Declares Quarterly Common Stock DividendGlobeNewswire
- Crown Castle Inc. (NYSE: CCI) had its price target raised by analysts at Barclays PLC from $116.00 to $117.00. They now have an "equal weight" rating on the stock.MarketBeat
- Crown Castle Inc. (NYSE: CCI) had its price target raised by analysts at Royal Bank of Canada from $104.00 to $109.00. They now have a "sector perform" rating on the stock.MarketBeat
- How Much Would It Take To Earn $100 A Month From Crown Castle Stock [Yahoo! Finance]Yahoo! Finance
- Crown Castle: Paving The Way For AI-Backed Dividends [Seeking Alpha]Seeking Alpha
CCI
Earnings
- 10/16/24 - Beat
CCI
Sec Filings
- 11/14/24 - Form SC
- 11/12/24 - Form 8-K
- 11/6/24 - Form 8-K
- CCI's page on the SEC website