Crown Castle Inc. - CCI STOCK NEWS

Crown Castle reported its Q1 2023 results, revealing site rental revenues of $1.624 billion, a 3% increase year-over-year. The company's net income slightly decreased to $418 million, with net income per share stable at $0.97. Adjusted EBITDA was reported at $1.104 billion, reflecting a 1% rise. Additionally, Adjusted Funds from Operations (AFFO) grew to $828 million, marking a 2% increase. Despite a $46 million impact from Sprint Cancellations, organic revenue growth in the Towers segment is expected to reach 5% in 2023. Furthermore, Crown Castle increased its dividend by 6.5% year-over-year, highlighting strong demand for connectivity and growth in 5G deployment. The company maintains its full-year outlook, aiming for continued operational strength amid challenges from higher interest rates.

Crown Castle plans to disclose its first quarter 2023 results on April 19, 2023, after market close. Following the announcement, a conference call is scheduled for April 20, 2023, at 10:30 a.m. ET. The call will be accessible through a live audio webcast on the Crown Castle website. Participants can join the call by dialing 833-630-1956 (Toll-Free) or 412-317-1837 (International), at least 30 minutes before the start. A replay will be available on the investor page until April 20, 2024. Crown Castle operates over 40,000 cell towers and approximately 85,000 route miles of fiber across the U.S., providing essential infrastructure for wireless services.

Crown Castle announced that Dan Schlanger, the company’s Executive Vice President and Chief Financial Officer, will present at the Morgan Stanley 2023 Technology, Media & Telecom Conference on March 9, 2023, at 9:30 a.m. Eastern Time. The presentation is set to last approximately 30 minutes and will be available via a live audio webcast on Crown Castle's website, which will also host an archive for later viewing. Crown Castle operates over 40,000 cell towers and around 85,000 route miles of fiber, supporting essential data and wireless services in major U.S. markets.

HOUSTON, Feb. 21, 2023 (GLOBE NEWSWIRE) -- Crown Castle announced that Dan Schlanger, its Executive Vice President and CFO, will present at the Raymond James’ 44th Annual Institutional Investors Conference on March 7, 2023, at 11:00 a.m. ET. The presentation will be broadcast live online, expected to last around 30 minutes. Interested parties can access the live audio webcast and replay on Crown Castle's website.

Crown Castle owns and operates over 40,000 cell towers and approximately 85,000 route miles of fiber across major U.S. markets, providing essential communication infrastructure for communities.

Crown Castle announced a quarterly cash dividend of $1.565 per common share, payable on March 31, 2023. Stockholders of record as of March 15, 2023 will receive this dividend, demonstrating the company's commitment to returning value to its investors. Future dividends will depend on Board approval. Crown Castle operates over 40,000 cell towers and approximately 85,000 route miles of fiber, providing essential infrastructure that connects communities with data and wireless services.

Crown Castle announced year-end tax reporting details for 2022 distributions to common stockholders. Taxable distributions include cash payments made quarterly, with a notable increase in the December cash distribution to $1.565 per share compared to earlier distributions of $1.470. Total ordinary taxable dividends per share for December reached $1.027456. Throughout 2022, there were no unrecaptured Section 1250 gains or long-term capital gains. Investors are advised to consult tax advisors for their specific tax situations regarding these distributions.

Crown Castle reported its fourth quarter and full year results for 2022, demonstrating solid financial performance. Full year site rental revenues reached $6.5 billion, up 4% from the previous year, while income from continuing operations fell by 2% to $1.6 billion. Adjusted EBITDA grew by 3% to $4.5 billion. The company maintained its 2023 outlook, predicting a 5% organic revenue growth from its Towers segment. Key highlights include a 10% increase in site rental revenues year-over-year, alongside a significant capital expenditure plan of $1.3 billion. Crown Castle also issued $1 billion in senior unsecured notes to strengthen its balance sheet.

Crown Castle plans to release its fourth quarter 2022 results on January 25, 2023, after market close. A conference call is scheduled for January 26, 2023, at 10:30 a.m. ET. Investors can access a live audio webcast and supplemental materials on the company's website. Crown Castle operates over 40,000 cell towers and approximately 85,000 route miles of fiber across the U.S., providing essential data and wireless services to communities and businesses.

Crown Castle announced the pricing of its public offering of 5.000% Senior Notes due 2028, amounting to $1.0 billion. The notes will yield 5.021% and will be issued at 99.908% of face value. The net proceeds of approximately $990 million are designated for repaying existing revolving credit facility debts and covering related costs. The offering is managed by several financial institutions and adheres to SEC regulations. This move reflects Crown Castle's strategy to manage its debt efficiently amid prevailing market conditions.