Investors interested in REIT and Equity Trust - Other stocks are likely familiar with Outfront Media (OUT) and Crown Castle (CCI) . But which of these two stocks presents investors with the better value opportunity right now? Let's take a closer look.Everyone has their own methods for finding great value opportunities, but our model includes pairing an impressive grade in the Value category of our Style Scores system with a strong Zacks Rank. The proven Zacks Rank puts an emphasis on earnings estimates and ...

HOUSTON, April 19, 2024 (GLOBE NEWSWIRE) -- Crown Castle Inc. (NYSE:CCI) ("Crown Castle" or the "Company") today issued the following statement: Consistent with the Boots Group's approach throughout its campaign, Ted Miller has again pursued a litigation strategy that is attempting to interfere with Crown Castle's critical strategic and operational initiatives. In his most recent motion, Ted Miller is seeking to prevent the Company from expanding the size of its Board, which the Board has recently done by a ...

Crown Castle Inc. (CCI) reported first-quarter 2024 adjusted funds from operations (AFFO) per share of $1.72, outpacing the Zacks Consensus Estimate by a penny. However, the reported figure declined 9.9% from the year-ago quarter.Results reflect better-than-anticipated revenues. However, higher interest expense on debt obligations and lower contributions from adjusted EBITDA were undermining factors. CCI maintained its outlook for 2024.Net revenues of $1.64 billion, too, beat the Zacks Consensus Estimate of ...

Crown Castle Inc.’s (CCI) first-quarter 2024 adjusted funds from operations (AFFO) per share of $1.72 surpassed the Zacks Consensus Estimate of $1.71. Net revenues of $1.64 billion outpaced the Zacks Consensus Estimate of $1.63 billion.However, AFFO per share reported a 9.9% decline year over year. Net revenues fell 7.4% year over year.Site-Rental Revenues DecreaseCCI’s total site-rental revenues fell 2.2% year over year to $1.59 billion in the first quarter of 2024. The figure was higher than our estimate ...

Crown Castle Inc. (NYSE:CCI) Q1 2024 Earnings Conference Call April 17, 2024 5:00 PM ET Company Participants Kris Hinson - VP, Corporate Finance & Treasurer Robert Bartolo - Chair Steven Moskowitz - President & CEO Daniel Schlanger - CFO Tony Melone - Interim President & CEO Conference Call Participants Michael Rollins - Citi Jonathan Atkin - RBC Markets Ric Prentiss - Raymond James Simon Flannery - Morgan Stanley Nick Del Deo - MoffettNathanson David Barden - Bank of America Richard Choe - JPMorgan Matt Ni ...

| --- | --- | |--------------------------|-------------------------------------------------------------------------------| | | | | | | | April 17, 2024 | | | First Quarter 2024 | | | Earnings Conference Call | | | | 1 First Quarter 2024 Earnings Conference Call The pathway to possible. PAGE | This presentation contains forward-looking statements and information ("Forward-Looking Statements") that are based on our management's current expectations. Statements that are not historical facts are hereby identifi ...

Crown Castle (CCI) reported $1.64 billion in revenue for the quarter ended March 2024, representing a year-over-year decline of 7.5%. EPS of $1.72 for the same period compares to $0.97 a year ago.The reported revenue represents a surprise of +0.78% over the Zacks Consensus Estimate of $1.63 billion. With the consensus EPS estimate being $1.71, the EPS surprise was +0.58%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine the ...

Crown Castle (CCI) came out with quarterly funds from operations (FFO) of $1.72 per share, beating the Zacks Consensus Estimate of $1.71 per share. This compares to FFO of $1.91 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an FFO surprise of 0.58%. A quarter ago, it was expected that this operator of wireless communications towers would post FFO of $1.79 per share when it actually produced FFO of $1.82, delivering a surprise of 1.68%.Over the last ...

Financial Performance Metrics - Net Debt to Last Quarter Annualized Adjusted EBITDA is a key metric for assessing leverage, but should be viewed as a supplement to GAAP measures[1] - Consolidated Return on Invested Capital and Segment Cash Yield on Invested Capital are important for evaluating asset performance and capital allocation efficiency[1] - The company emphasizes the importance of understanding non-GAAP metrics as supplements to GAAP measures for a comprehensive view of financial performance[1] - The company maintains a BBB+ long-term issuer default rating from Fitch[34] - The company has a market capitalization of $45,985 million and a firm value of $69,262 million[80] - The company maintains a total net leverage ratio of 5.3x, below the covenant requirement of ≤ 6.50x[87] - The debt service coverage ratio for the 2015 Tower Revenue Notes is reported at 17.8x, significantly above the required minimum of > 1.75x[87] - The weighted average interest rate reflects a reduction in the interest rate spread due to meeting specified sustainability targets[65] - The company reported a cash yield on invested capital of 12.8% for Q1 2024, up from 12.2% in Q1 2023[121] Revenue Projections - Site rental billings for the prior year totaled $5,675 million, with core leasing activity projected to contribute between $305 million and $335 million in 2024[22] - Total site rental revenues are expected to range from $6,347 million to $6,392 million for the full year 2024, reflecting a year-over-year decline of 2.5%[22] - Full Year 2024 site rental billings are projected to be between $5,740 million and $5,780 million[40] - Site rental revenues for Full Year 2024 are expected to range from $6,347 million to $6,392 million[40] - The company anticipates escalators to contribute between $95 million and $105 million to site rental revenues in 2024[22] - Projected site rental revenues for the remaining nine months of 2024 are estimated at $4,685 million[51] - Total site rental revenues for Q1 2024 were $1,588 million, compared to $1,728 million in Q1 2023[71] - Total site rental revenues for Q1 2024 were $383 million, a 10.7% increase compared to the prior year[108] - Total segment revenues for Q1 2024 were $1,641 million, a decline of 7.4% compared to $1,773 million in Q1 2023[167] Adjusted EBITDA and Income - Adjusted EBITDA for Full Year 2024 is forecasted to be between $4,138 million and $4,188 million[40] - Adjusted EBITDA for Q1 2024 is projected at $1,036 million, down from $1,076 million in Q4 2023[43] - The company expects adjusted EBITDA for the full year 2024 to be between $4,138 million and $4,188 million[149] - Net income for Q1 2024 was $311 million, down from $418 million in Q1 2023, representing a decrease of 25.6%[137] - The company reported a basic net income per share of $0.72 for Q1 2024, compared to $0.97 in Q1 2023, a decline of 25.8%[137] Capital Expenditures - Total discretionary capital expenditures for Q1 2024 are expected to be $298 million, down from $329 million in Q4 2023[46] - Capital expenditures for Q1 2024 were $320 million, a decrease from $341 million in Q1 2023[165] - The company anticipates sustaining capital expenditures to be in the range of $(85) million to $(65) million for full year 2024[189] - Total capital expenditures for Q1 2024 were $273 million, with capital expenditures less prepaid rent additions at $217 million[104] Debt and Obligations - Total secured debt amounts to $1,775 million with a debt to LQA adjusted EBITDA ratio of 0.4x[80] - Total unsecured debt is reported at $21,800 million, with a net debt of $23,277 million and a net debt to adjusted EBITDA ratio of 5.6x[87] - Total debt and other obligations amount to $23,414 million as of March 31, 2024[190] - Net Debt stands at $23,277 million after accounting for cash and cash equivalents[190] Operational Highlights - The company operates over 40,000 towers and approximately 115,000 small cells across the U.S.[31] - The strategy focuses on maximizing recurring site rental cash flows and returning cash to stockholders through dividends[32] - The company aims to invest in new communications infrastructure to generate future cash flow growth[32] - The number of towers increased to 40,023, with 28,304 leased and 11,719 owned[99] - The average number of tenants per tower is 2.5, with 40,000 towers in total[121] Sprint Cancellations Impact - Payments for Sprint cancellations are expected to decrease from $(170) million to $(160) million in 2024[22] - The company anticipates receiving approximately $3 million in payments for Sprint Cancellations related to fiber solutions in Q1 2024[42] - Payments for Sprint Cancellations in Q1 2024 amounted to 44 million, a decrease from 106 million in the previous year[72] - The company received $66 million in non-recurring payments associated with Sprint Cancellations in 2023, impacting future revenue projections[157] Non-Renewals and Organic Contributions - Non-renewals are projected to impact revenues negatively, with estimates ranging from $(165) million to $(145) million[22] - Organic Contribution to Site Rental Billings adjusted for Sprint Cancellations was 68 million, reflecting a year-over-year increase[71] - Organic contribution to site rental billings adjusted for the impact of Sprint cancellations was $34 million, reflecting a year-over-year change of (3.6)%[108] - The company experienced a non-renewal rate of (29) for Q1 2024, consistent with previous quarters[108] Cash Flow and Liquidity - Net cash provided by operating activities was $599 million, slightly down from $606 million in Q1 2023[165] - Cash and cash equivalents increased to $125 million in Q1 2024 from $105 million in Q4 2023[161] - Cash and cash equivalents at the end of the period were $298 million, down from $388 million at the end of Q1 2023[165] - Interest paid in Q1 2024 was $282 million, an increase from $249 million in Q1 2023[165]

HOUSTON, April 17, 2024 (GLOBE NEWSWIRE) -- Crown Castle Inc. (NYSE:CCI) ("Crown Castle") today reported results for the first quarter ended March 31, 2024 and maintained its full year 2024 outlook, as reflected in the table below. (dollars in millions, except per share amounts)Current Full Year 2024 Outlook(a)Full Year 2023 ActualChange% ChangeSite rental revenues$6,370$6,532$(162)(2)%Net income (loss)$1,253$1,502$(249)(17)%Net income (loss) per share—diluted$2.88$3.46$(0.58)(17)%Adjusted EBITDA(b)$4,163$4 ...