- Crown Castle International (NYSE:CCI) posted Q2 earnings where funds from operations rose 15% on an adjusted basis and revenues grew 7% and beat.
- Revenue breakout: Site rental, $804.6M (up 9.2%); Network services and other, $157.8M (down 2.8%).
- Site rental gross margin was $552M, up 10%.
- For Q3, it expects site rental revenues of $805M-$810M, site rental gross margin of $549M-$554M, adjusted FFO of $400M-$405M (vs. expected $399M) and EBITDA of $557M-$562M (vs. consensus for $554.8M). For the full year, it's forecasting site rental revenues of $3.2B, adjusted FFO of $1.61B, and EBITDA of $2.2B.
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Conference call to come tomorrow at 10:30 a.m. ET.
- Press Release