Crown Castle International Earnings: Here’s Why Investors are Buying Shares Now

Crown Castle International Corp. (NYSE:CCI) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 0.37%.

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Crown Castle International Corp. Earnings Cheat Sheet

Results: Adjusted Earnings Per Share decreased 70.59% to $0.05 in the quarter versus EPS of $0.17 in the year-earlier quarter.

Revenue: Rose 34.12% to $740 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: Crown Castle International Corp. reported adjusted EPS income of $0.05 per share. By that measure, the company beat the mean analyst estimate of $0.03. It beat the average revenue estimate of $698.33 million.

Quoting Management: “We had an excellent first quarter, producing AFFO per share of $1.00, up 45% over the same quarter last year,” stated Ben Moreland, Crown Castle’s President and Chief Executive Officer. “In addition, we saw a significant increase in leasing activity as all four major carriers in the US continued upgrading their networks for LTE and capacity enhancements. In fact, application volume, including both amendments and new tenant applications, more than doubled in the first quarter of 2013, compared to the first quarter of 2012. This activity is expected to translate into additional site rental revenue during the second half of 2013 allowing us to meaningfully increase our full year 2013 Outlook, which now suggests annual site rental revenue and AFFO per share growth of 17% and 27%, respectively.”

Key Stats (on next page)…

Revenue increased 9.78% from $674.09 million in the previous quarter. EPS increased to $0.05 in the quarter versus EPS of $-0.07 in the previous quarter.

Looking Forward: Analysts have a more negative outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has fallen from a profit of $0.23 to a profit $0.13. For the current year, the average estimate has moved down from a profit of $0.91 to a profit of $0.46 over the last ninety days.

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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at]