Crown Castle Q2 Profit Drops 68% on Lower Revenue, Guides FY EPS Below Views
CCI is trading near its 52-week low of $73.75 (5.5% above the low).
Summary
Crown Castle's Q2 GAAP net income fell 68% to $94M, or $0.22 per share, from $291M a year ago, as revenue declined 4.9% to $1.008B. The company issued full-year GAAP EPS guidance of $1.70 to $2.35, which appears below consensus expectations. This follows the earlier 8-K today that reported an 11% increase in AFFO to $1.13 per share and raised full-year AFFO guidance to $4.59, highlighting a divergence between GAAP and non-GAAP metrics. The GAAP decline likely reflects the impact of the $8.5B Fiber and Small Cell sale completed in May, which reduced revenue but improved balance sheet flexibility. The market will focus on whether the GAAP miss and soft revenue overshadow the AFFO beat and raised outlook.
At the time of this announcement, CCI was trading at $77.80 on NYSE in the Real Estate & Construction sector, with a market capitalization of approximately $33.8B. The 52-week trading range was $73.75 to $115.76. This news item was assessed with negative market sentiment and an importance score of 8 out of 10. Source: dpa-AFX.