Crown Castle's (CCI) Q4 AFFO Beat Estimate, Revenues Down Y/Y
CCICrown Castle(CCI) Zacks Investment Research·2024-01-26 03:01

Crown Castle Inc. (CCI) reported fourth-quarter 2023 adjusted funds from operations (AFFO) per share of 1.82,outpacingtheZacksConsensusEstimateof1.82, outpacing the Zacks Consensus Estimate of 1.79. However, the reported figure declined 1.6% from the year-ago quarter. Results reflect better-than-anticipated revenues aided by healthy site-rental revenue growth. 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 $1.67 billi ...