Crown Castle (CCI) Q1 Earnings: Taking a Look at Key Metrics Versus Estimates

For the quarter ended March 2023, Crown Castle (CCI) reported revenue of $1.77 billion, up 1.8% over the same period last year. EPS came in at $1.91, compared to $0.97 in the year-ago quarter.

The reported revenue compares to the Zacks Consensus Estimate of $1.78 billion, representing a surprise of -0.33%. The company delivered an EPS surprise of -1.55%, with the consensus EPS estimate being $1.94.

While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.

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: 40000 versus the three-analyst average estimate of 40087.

• Revenues- Network services and other: $149 million compared to the $168.80 million average estimate based on five analysts. The reported number represents a change of -10.2% year over year.

• Revenues- Site rental: $1.62 billion versus the five-analyst average estimate of $1.61 billion. The reported number represents a year-over-year change of +3.1%.

• Site rental revenues- Towers: $1.08 billion versus the four-analyst average estimate of $1.08 billion. The reported number represents a year-over-year change of +0.6%.

• Site rental revenues- Fiber: $543 million versus $552.33 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +8.4% change.

• Network services and other revenues- Towers: $146 million compared to the $166.34 million average estimate based on three analysts. The reported number represents a change of -10.4% year over year.

• Site rental- Gross margin- Consolidated Total: $1.22 billion versus $1.21 billion estimated by five analysts on average.

• Network Services & Other- Gross margin: $48 million versus $56.37 million estimated by four analysts on average.

• Site rental gross margin- Towers: $847 million versus the four-analyst average estimate of $852.80 million.

• Site rental gross margin- Fiber: $371 million versus $355.94 million estimated by four analysts on average.

View all Key Company Metrics for Crown Castle here>>>

Shares of Crown Castle have returned +2.3% over the past month versus the Zacks S&P 500 composite's +6.2% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

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