Wed, Oct. 21, 4:44 PM
Wed, Oct. 21, 4:39 PM
- Crown Castle (NYSE:CCI) is up 0.7% after hours following a Q3 report where it beat on top and bottom lines, bumped guidance and increased its dividend.
- Total revenues rose 2.8% to $918.1M; site rental revenues of $765M were up 7% Y/Y. Site rental gross margin increased 6%, to $518M. The Sunesys acquisition generated $16M in site rental revenues.
- In bumping guidance, it increased its 2015 midpoint expectation for adjusted EBITDA and adjusted FFO by $37M and $23M respectively. It now sees full-year EBITDA of $2.115B-$2.120B, in line with expectations, and adjusted FFO/share of $4.29-$4.31.
- For 2016, it sees adjusted FFO/share of $4.66 (up 8% Y/Y).
- It's increased the annual dividend to $3.54/share from $3.28/share; that's $0.885/quarter and an 8% increase, taking effect with the Dec. 31 payment.
- Conference call to come tomorrow at 10:30 a.m. ET.
- Press release
Mon, Aug. 3, 4:37 PM
Fri, May 29, 4:04 PM
Tue, Feb. 17, 4:22 PM
Oct. 30, 2014, 6:42 PM
Oct. 30, 2014, 5:34 PM
- Crown Castle's (NYSE:CCI) new quarterly dividend, provided after activist Corvex Management called for greater capital returns, is 134% above a prior $0.35/share, and good for a 4% yield. The next dividend is payable on Dec. 31 to shareholders on record as of Dec. 19.
- The tower owner expects Q4 AFFO/share of $1.04-$1.05 (close to Q3's $1.04). Site rental revenue is expected to rise to $755M-$760M from Q3's $752M.
- CCI -1.6% AH. Q3 results, PR.
Aug. 8, 2014, 5:53 PM
May 30, 2014, 4:05 PM
Feb. 20, 2014, 5:40 PM
Other News & PR