Crown Castle(CCI) ZACKS·2024-10-16 23:01Core Insights - Crown Castle (CCI) reported $1.65 billion in revenue for Q3 2024, a year-over-year decline of 0.9%, with an EPS of $1.84 compared to $0.61 a year ago, indicating a significant improvement in earnings despite the revenue drop [1] - The reported revenue exceeded the Zacks Consensus Estimate of $1.64 billion by 1.02%, while the EPS surpassed the consensus estimate of $1.80 by 2.22% [1] Financial Performance Metrics - Total Ending Towers: 40,000, slightly below the average estimate of 40,058 [3] - Site Rental Revenues: $1.59 billion, exceeding the average estimate of $1.58 billion, reflecting a 1% increase year-over-year [3] - Site Rental Revenues from Towers: $1.06 billion, slightly below the estimate of $1.08 billion, showing a 1% decrease year-over-year [3] - Site Rental Revenues from Fiber: $530 million, surpassing the estimate of $503.32 million, representing a 5.4% increase year-over-year [3] - Revenues from Services and Other: $59 million, exceeding the average estimate of $52.75 million, but reflecting a significant decline of 34.4% year-over-year [3] - Net Earnings Per Share (Diluted): $0.70, above the average estimate of $0.64 [3] - Gross Margin for Services and Other: $31 million, exceeding the average estimate of $21.12 million [3] - Gross Margin for Site Rental: $1.17 billion, slightly above the average estimate of $1.16 billion [3] Stock Performance - Crown Castle's shares have returned -4.4% over the past month, contrasting with the Zacks S&P 500 composite's +3.5% change [4] - The stock currently holds a Zacks Rank 2 (Buy), suggesting potential for outperformance in the near term [4]