CCI Earnings Prediction
The chart below shows how CCI performed 10 days before and after its earnings report, based on data from the past quarters. Typically, CCI sees a +2.15% change in stock price 10 days leading up to the earnings, and a -1.31% change 10 days following the report. On the earnings day itself, the stock moves by -0.38%. This data can give you a slight idea of what to expect for the next quarter's release.
CCI Key Earning Data
2024/Q4
Year Over Year
Quarter Over Quarter
Total Revenue
1.65B
-0.90%
1.60%
Gross Margin
46.00%
3.35%
1.48%
Operating Margin
36.74%
8.22%
12.08%
Net Margin
18.34%
15.35%
18.78%
EPS
0.69
13.11%
18.97%
No Data Available
CCI Earnings Analysis
Crown Castle Inc. Corporation (CCI.N) Earnings Conference Call
Positive
Consolidated Organic Revenue Growth: We continue to expect consolidated organic revenue growth of approximately 5% for the fully year 2024, which includes growth of 4.5% in towers, 10% in small cells, and 2% in fiber solutions.
Operational Changes and Results: Our results in this quarter validate our ability to continue to deliver for our customers and shareholders while implementing the significant changes to how we operate and invest in our business that we announced in June.
Consolidated Organic Growth: We delivered 5.2% consolidated organic growth in the third quarter, consisting of 4.3% from towers, 25% from small cells, and 1% from fiber solutions.
AFFO Growth Projection: We expect to deliver $108 million of AFFO growth at the midpoint, excluding the impact of Sprint cancellations and the non-cash decrease in amortization of prepaid rent.
Contracted Backlog Cancellation: We have completed successful discussions with our customers and identified approximately 7,000 nodes in our contracted backlog that we, along with our customers, have mutually agreed to cancel.
Negative
Net Income Outlook Adjustment: We lowered our 2024 outlook for net income to reflect the impact of a $125 million to $150 million asset write-off anticipated in the fourth quarter related to reductions in our small cell business.
Operational Changes and Performance: Our results in this quarter validate our ability to continue to deliver for our customers and shareholders while implementing the significant changes to how we operate and invest in our business that we announced in June.
Organic Growth Expectations: We delivered 2% organic growth, excluding $4 million of prior period revenue adjustments, and we expect to deliver 2% growth for fully year 2024, excluding the impact of some Sprint cancellations.
Contract Cancellation Announcement: We have mutually agreed to cancel approximately 7,000 contracted small cell nodes previously in our backlog, which were largely greenfield builds in locations that had countless zoning and permitting delays or in high-cost markets that did not meet our investment parameters and required higher-than-normal capital investment from our customers.
Capital Spend Reduction: We expect to save about $800 million in future capital spend by removing these low-yielding anchor nodes from our backlog.
CCI FAQs
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CCI Earning Call Sentiment
Crown Castle Inc. (CCI) Q3 2024 Earnings Call Transcript
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CCI.N
4.45%Positive
The earnings call shows positive sentiment, with strong small cell revenue growth (25% in Q3 2024), reduced capital expenditures, and improved leverage ratio. Despite some regulatory challenges, the cancellation of 7,000 contracted nodes reduces future capital requirements by $800 million, enhancing shareholder returns. The Q&A revealed management's confidence in ongoing 5G demand and improved return thresholds for small cells. However, vague responses on strategic review timelines and return thresholds slightly temper optimism. Overall, the positive financial performance and strategic cost management suggest a positive stock price movement over the next two weeks.