Crown Castle lowers FY 2023 net income outlook to $1.58B; AFFO per share cut to $7.54

CROWN CASTLE INC.

2023-Q2 EPS reported $2.01 revenue$3,640,000,000

Net income guidance reduced to $1,581M ($3.64 EPS), down 6% YoY and 3% from prior outlook.
Adjusted EBITDA outlook lowered to $4,422M (from $4,472M); site rental revenues unchanged at $6,511M.
AFFO per share guidance cut to $7.54 from $7.63, reflecting expected cost reduction charges.
Q2 results showed margin pressure as revenue stable but profitability guidance reduced.
Management expects material non-recurring charges from cost reductions, excluded from adjusted measures.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

CROWN CASTLE INC. reported full year 2023 results: revenue $6,511, net income $1,581, EPS $3.64. Guidance lowered.

Period: full year 2023
Revenue: $6,511
Net income: $1,581
EPS: $3.64
Guidance: lowered
Result: guidance update

Exact text from the filing

Crown Castle Inc. (NYSE: CCI) ("Crown Castle") today reported results for the second quarter ended June 30, 2023 and updated its full year 2023 outlook, as reflected in the table below. (dollars in millions, except per share amounts) Current Full Year 2023 Outlook (a)(b) Full Year 2022 Actual % Change Previous Full Year 2023 Outlook (c) Current Compared to Previous Outlook Site rental revenues $6,511 $6,289 4% $6,511 —% Net income (loss) $1,581 $1,675 (6)% $1,636 (3)% Net income (loss) per share—diluted $3.64 $3.86 (6)% $3.76 (3)%

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

CROWN CASTLE INC. reported financial results for second quarter ended June 30, 2023.

Period: second quarter ended June 30, 2023
Result: reported results

Exact text from the filing

On July 19, 2023, Crown Castle Inc. ("Company") issued a press release disclosing its financial results for the second quarter ended June 30, 2023.

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CROWN CASTLE INC. filing history →

Source: SEC EDGAR

accession 0001051470-23-000117

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