Crown Castle (NYSE:CCI) uses its Q4 report to hike its 2015 AFFO/share guidance range by $0.02 to $4.33-$4.39 (still below a $4.45 consensus). Q1 AFFO/share guidance has been set at $1.09-$1.10 (above a $1.08 consensus).
Site rental revenue guidance has been upped by $10M to $3.058B-$3.078B (4% organic growth at the midpoint), and adjusted EBITDA guidance by $14M to $2.14B-$2.16B.
Q4 site rental revenue +17% Y/Y to $761M (+6.6% organic). Network services/other revenue +40% to $206.2M. The AT&T deal (closed in Dec. 2013) provided a major top-line boost.
Crown Castle ended Q4 with $11.7B in net debt, up from $11.3B at the end of Q3.
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.
TriQuint (TQNT) expects Q2 revenue of $215M-$225M and EPS of $0.06-$0.08, above a consensus of $200.3M and $0.04. Shares +6.5% AH. Merger partner RF Micro (RFMD), which reports on April 29, is up 3.1%. Both companies might also be getting a lift from Apple's March quarter iPhone sales print. (Q1 results, PR)
Fortinet (FTNT) guides in its earnings slides (.pdf) for Q2 revenue of $169M-$172M (above a $168.9M consensus), EPS of $0.10 (below an $0.11 consensus), and billings of $185M-$190M (+17% Y/Y). Q1 billings totaled $188M, +26% Y/Y and well above guidance of $168M-$173M. Shares +4.4% AH. (Q1 results, PR)
Crown Castle (CCI) has raised its full-year AFFO forecast to $1.346B-$1.361B ($4.04-$4.08/share) from a prior $1.318B-$1.333B. Site rental revenue guidance has been raised by $11M to $2.983B-$2.993B. (Q1 results, PR)