Here's What Key Metrics Tell Us About Crown Castle (CCI) Q3 Earnings
Crown Castle (CCI) reported $1.65 billion in revenue for the quarter ended September 2024, representing a year-over-year decline of 0.9%. EPS of $1.84 for the same period compares to $0.61 a year ago.
The reported revenue represents a surprise of +1.02% over the Zacks Consensus Estimate of $1.64 billion. With the consensus EPS estimate being $1.80, the EPS surprise was +2.22%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Crown Castle performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Ending Towers - Total: 40,000 versus the four-analyst average estimate of 40,058.
Revenues- Site rental: $1.59 billion versus $1.58 billion estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +1% change.
Site rental revenues- Towers: $1.06 billion versus $1.08 billion estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -1% change.
Site rental revenues- Fiber: $530 million versus $503.32 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +5.4% change.
Revenues- Services and other: $59 million versus $52.75 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -34.4% change.
Revenues- Fiber: $535 million compared to the $505.92 million average estimate based on three analysts. The reported number represents a change of +5.5% year over year.
Services and other revenues- Towers: $54 million compared to the $50.05 million average estimate based on three analysts. The reported number represents a change of -37.2% year over year.
Revenues- Towers: $1.12 billion versus $1.13 billion estimated by three analysts on average. Compared to the year-ago quarter, this number represents a -3.7% change.
Services and other revenues- Fiber: $5 million versus the three-analyst average estimate of $3.61 million. The reported number represents a year-over-year change of +25%.
Net Earnings Per Share (Diluted): $0.70 versus $0.64 estimated by five analysts on average.
Services and other- Gross margin: $31 million versus the four-analyst average estimate of $21.12 million.
Site rental- Gross margin: $1.17 billion versus the four-analyst average estimate of $1.16 billion.
View all Key Company Metrics for Crown Castle here>>>
Shares of Crown Castle have returned -4.4% over the past month versus the Zacks S&P 500 composite's +3.5% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
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