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Dec 31, 2019
Crown Castle Q4 2019 Earnings Report
Crown Castle reported a slowdown in activity in Q4 2019 but delivered a strong year of results for full year 2019. The company updated its full year 2020 Outlook and announced a restatement of financial results.
Key Takeaways
Crown Castle International Corp. reported its Q4 and full year 2019 results. The company experienced a slowdown in activity during the fourth quarter but remains optimistic about a return to significant activity in the second half of 2020. They updated their full year 2020 Outlook and announced a restatement of previously-issued financial statements.
Experienced highest level of tower leasing activity in more than a decade.
Delivered another strong year of results for full year 2019 despite a noticeable slowdown in activity in the fourth quarter of 2019.
Expect activity levels across the industry to increase throughout the year and potentially beyond as customers accelerate their investments in 5G.
Targeting 7% to 8% annual growth in dividends per share.
Revenue by Segment
Forward Guidance
Crown Castle provided its outlook for full year 2020, anticipating continued growth and investment in 5G infrastructure.
Positive Outlook
- Strong underlying demand for communications infrastructure assets.
- Ability to translate growth in data demand into growth in dividends per share.
- Customers will accelerate their investments in 5G.
- Targeting 7% to 8% annual growth in dividends per share.
- Expect financial performance in 2020 will be more back-end loaded than previously expected, particularly for services contribution.
Challenges Ahead
- Uncertainty around the outcome of the pending merger between T-Mobile and Sprint led to lower activity levels in the fourth quarter of 2019 that we believe will continue through the first quarter of 2020.
- Impact of the restatement we disclosed today.
- Capital expenditures to (2,059) million
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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