Crown Castle International Earnings: Here’s Why Investors are Happy 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 0.17%.

Crown Castle International Corp. Earnings Cheat Sheet

Results: Adjusted Earnings Per Share decreased 55% to $0.18 in the quarter versus EPS of $0.40 in the year-earlier quarter.

Revenue: Rose 25.53% to $735 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: Crown Castle International Corp. reported adjusted EPS income of $0.18 per share. By that measure, the company beat the mean analyst estimate of $0.16. It beat the average revenue estimate of $720.57 million.

Quoting Management: “We had an excellent second quarter, producing AFFO per share of $1.04, up 41% 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, revenue from tenant additions approximately doubled in the second quarter of 2013, compared to the second quarter of 2012, reflecting the shift in activity towards network densification as carriers strive to improve network quality and to add capacity through cell-splitting to meet the increasing demand for mobile technology.”

Key Stats (on next page)…

Revenue decreased 0.68% from $740.06 million in the previous quarter. EPS increased 260% from $0.05 in the previous quarter.

Looking Forward: Analysts have a more positive outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has risen from a profit of $0.13 to a profit $0.16. For the current year, the average estimate has moved up from a profit of $0.47 to a profit of $0.56 over the last ninety days.

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

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