logo
  

Crown Castle International Lifts FY22 Outlook

While reporting it results for the first quarter on Wednesday, Crown Castle International Corp. (CCI) lifted its outlook for the full year 2022.

Looking forward, the company now expects income from continuing operations of $3.94 per share, adjusted funds from operations of $7.36 per share, and site rental revenues of $6.265 billion.

Previously, the company expected income from continuing operations of $3.85 per share, adjusted funds from operations of $7.36 per share, and site rental revenues of $6.225 billion.

Analysts polled by Thomson Reuters currently expect earnings of $3.88 per share and revenues of $6.89 billion.

"We are seeing the benefit of a robust 5G leasing environment that contributed to the 9% AFFO per share growth we delivered in the first quarter and led to an increase in our operating expectations for the full year 2022," stated Jay Brown, Crown Castle's Chief Executive Officer.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
The Federal Communications Commission or FCC has granted SpaceX Services, Inc. authorization to use its Starlink satellite internet system on vehicles in motion. SpaceX, owned by Elon Musk, is allowed to operate consumer and enterprise Ku-band Earth Stations in Motion or ESIM using frequencies allocated to the fixed satellite service. The approval would help the company to expand its services to Loud Muscle Science, LLC is recalling certain Launch Sequence products in the United States and Canada citing the presence of undeclared Tadalafil, the U.S. Food and Drug Administration said. These tainted Launch Sequence Capsule products are marketed as dietary supplements for male sexual enhancement. The U.S. Food and Drug Administration announced the intended availability of around 17 million bottles equivalent of general infant formula to be imported from New Zealand and Ireland. Under the FDA's enforcement discretion to source more infant formula to the U.S., French food company Danone SA will send 555,000 cans Aptamil Gold Plus from New Zealand.
Follow RTT