What's Going On With Crown Castle Stock Thursday?
Portfolio Pulse from Adam Eckert
Crown Castle Inc's Q3 sales of $1.67 billion missed estimates of $1.71 billion. The company also reported a decrease in funds from operations per share year-over-year. Despite this, the company maintains its full year 2023 outlook. Crown Castle also announced a restructuring plan, the departure of CFO Dan Schlanger, and a quarterly cash dividend of $1.565 per share.
October 19, 2023 | 3:33 pm
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Crown Castle's Q3 results missed estimates and the company announced the departure of its CFO. Despite this, the company maintains its 2023 outlook and announced a quarterly dividend.
Crown Castle's missed earnings estimates and the departure of its CFO are negative news that could impact investor confidence and the stock price. However, the company's maintained 2023 outlook and announced dividend could mitigate some of this impact.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100