Crown Castle Inc. (NYSE: CCI), a real estate investment trust and a provider of shared communications infrastructure, has reported financial results for the fourth quarter of 2024 and issued guidance for fiscal 2025.
- The company reported revenues of $1.65 billion for the fourth quarter of 2024, compared to $1.67 billion in Q4 2023
- It posted a net loss of $4.77 billion for Q4, compared to a profit of $361 million in the prior-year quarter
- On a per-share basis, loss was $10.97, compared to earnings of $0.83 in the corresponding quarter last year
- The bottom line was negatively impacted by one-time goodwill impairment charges of around $5 billion
- Crown Castle has signed a definitive agreement to sell all of its Fiber segment, together with certain supporting assets and personnel
- The company expects to use the cash proceeds from the transaction to repay debt and fund share repurchases while managing its balance sheet to maintain an investment-grade rating
- For fiscal 2025, the management expects net income in the range of $65 million to $345 million
- Full-year funds from operations are expected to be between $1.61 billion and $1.64 billion