Crown Castle: Fourth Quarter Earnings Overview
Crown Castle Surpasses Earnings Expectations in Fourth Quarter
Crown Castle International Corp., a Houston-based real estate investment trust, announced its fourth-quarter financial results on Wednesday, exceeding analysts’ forecasts.
During the quarter, the company reported funds from operations totaling $489 million, which translates to $1.12 per share.
This performance outpaced the consensus estimate of $1.07 per share from six analysts polled by Zacks Investment Research.
Funds from operations, a key metric for REITs that adjusts net income by adding back depreciation and amortization, is closely monitored within the industry.
Crown Castle also disclosed a net income of $294 million, or $0.67 per share, for the quarter.
The company, which manages wireless communications towers, generated $1.07 billion in revenue for the period, again surpassing Wall Street’s projection of $1.05 billion.
For the full year, Crown Castle reported $1.9 billion in funds from operations and $4.26 billion in total revenue.
Looking ahead, the company anticipates its annual funds from operations to fall between $4.38 and $4.49 per share.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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