Crown Castle Sees FY24 AFFO $6.91-$7.02 Per Share
Portfolio Pulse from Benzinga Newsdesk
Crown Castle has updated its full-year 2024 outlook, with key changes including a $30 million decrease in site rental revenues, a $95 million decrease in net income due to restructuring charges, a $5 million increase in Adjusted EBITDA, and a $25 million increase in AFFO. The AFFO per share is now expected to be between $6.91 and $7.02.
June 11, 2024 | 1:44 pm
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Crown Castle's updated FY24 outlook includes a $30 million decrease in site rental revenues, a $95 million decrease in net income due to restructuring charges, a $5 million increase in Adjusted EBITDA, and a $25 million increase in AFFO. The AFFO per share is now expected to be between $6.91 and $7.02.
The updated outlook includes both positive and negative changes. The decrease in site rental revenues and net income could be seen as negative, while the increase in Adjusted EBITDA and AFFO could be seen as positive. Overall, the impact on the stock price is likely to be neutral in the short term.
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