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Crown Castle International Corp (CCI) SEC Filing 10-Q Quarterly report for the period ending Tuesday, March 31, 2020

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Crown Castle International Corp

CIK: 1051470 Ticker: CCI
Exhibit 99.1

logoa55.jpg
 
NEWS RELEASE
April 29, 2020
 
 
Contacts: Dan Schlanger, CFO
 
Ben Lowe, VP & Treasurer
FOR IMMEDIATE RELEASE
Crown Castle International Corp.
 
713-570-3050

CROWN CASTLE REPORTS FIRST QUARTER 2020 RESULTS AND
MAINTAINS OUTLOOK FOR FULL YEAR 2020

April 29, 2020 - HOUSTON, TEXAS - Crown Castle International Corp. (NYSE: CCI) ("Crown Castle") today reported results for the first quarter ended March 31, 2020 and maintained its full year 2020 Outlook.
(in millions, except per share amounts)
Midpoint of Current Full Year
2020 Outlook
Full Year 2019 Actual
% Change
Previous Full Year 2020 Outlook(c)
Current Compared to Previous Outlook
Site rental revenues
$5,360
$5,093
+5%
$5,360
$—
Net income (loss)
$1,038
$860
+21%
$1,038
$—
Net income (loss) per share—diluted(a)
$2.32
$1.79
+30%
$2.32
$—
Adjusted EBITDA(b)
$3,502
$3,299
+6%
$3,502
$—
AFFO(a)(b)
$2,595
$2,371
+9%
$2,595
$—
AFFO per share(a)(b)
$6.12
$5.68
+8%
$6.12
$—
(a)
Attributable to CCIC common stockholders.
(b)
See "Non-GAAP Financial Measures, Segment Measures and Other Calculations" included herein for further information and reconciliation of this non-GAAP financial measure to net income (loss).
(c)
As issued on February 26, 2020.
"In the first quarter, we delivered strong results that were in line with our expectations, positioning us to generate attractive growth in cash flows and dividends per share for full year 2020," stated Jay Brown, Crown Castle’s Chief Executive Officer. "Our business continues to perform well during this period of unprecedented uncertainty with COVID-19, and we are focused on taking the appropriate steps to deliver on our long-term annual dividend per share growth target of 7% to 8%. To this end, we have prioritized the health and safety of our workforce, while continuing to deliver critical infrastructure for our customers and the communities in which we operate. I'd like to thank our team for quickly adjusting to a new operating environment and prioritizing the needs of our customers. Although COVID-19 has the potential to create challenges in the near term, we remain confident our long-term contracted revenues will allow us to deliver value to shareholders through a high quality and growing dividend.
"We believe our ability to offer towers, small cells and fiber solutions, which are all integral components of communications networks and are shared among multiple tenants, provides us the best opportunity to generate significant growth while delivering high returns for our shareholders. We believe that the U.S. represents the best market in the world for communications infrastructure ownership, and we are pursuing that compelling opportunity with our comprehensive offering. As we look forward to what will likely be another decade-long investment cycle for our customers with the deployment of 5G, I am excited about the opportunity we see for Crown Castle to deliver long-term value to our shareholders."

The pathway to possible.
CrownCastle.com


The following information was filed by Crown Castle International Corp (CCI) on Wednesday, April 29, 2020 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Crown Castle International Corp's 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Condensed Consolidated Balance Sheet
Condensed Consolidated Balance Sheet (Parenthetical)
Condensed Consolidated Statement Of Cash Flows
Condensed Consolidated Statement Of Equity
Condensed Consolidated Statement Of Operations And Comprehensive Income (Loss)
Commitments And Contingencies
Commitments And Contingencies Commitment And Contingencies (Details)
Debt And Other Obligations
Debt And Other Obligations (Components Of Interest Expense And Amortization Of Deferred Financing Costs) (Details)
Debt And Other Obligations (Indebtedness) (Details)
Debt And Other Obligations (Tables)
Debt And Other Obligations Contractual Maturities (Details)
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Equity (Details)
Equity (Tables)
Fair Value Disclosures
Fair Value Disclosures (Estimated Fair Values And Carrying Amounts Of Assets And Liabilities) (Details)
Fair Value Disclosures (Tables)
General
General Business (Details)
Income Taxes
Operating Segments
Operating Segments Operating Segments (Tables)
Operating Segments Operating Segments Table (Details)
Per Share Information
Per Share Information (Narrative) (Details)
Per Share Information (Reconciliation Of The Numerators And Denominators Of The Basic And Diluted Per Share Computations) (Details)
Per Share Information (Tables)
Restatement Of Previously Issued Condensed Consolidated Financial Statements (Notes)
Restatement Of Previously Issued Condensed Consolidated Financial Statements (Tables)
Restatement Of Previously Issued Condensed Consolidated Financial Statements Restated Condensed Consolidated Balance Sheet (Details)
Restatement Of Previously Issued Condensed Consolidated Financial Statements Restated Condensed Consolidated Cash Flows (Details)
Restatement Of Previously Issued Condensed Consolidated Financial Statements Restated Condensed Consolidated Income Statement (Details)
Revenues (Details)
Revenues (Notes)
Revenues (Tables)
Subsequent Events (Details)
Subsequent Events (Notes)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (Policies)
Supplemental Cash Flow Information
Supplemental Cash Flow Information (Details)
Supplemental Cash Flow Information (Tables)
Supplemental Cash Flow Information Reconciliation Of Cash, Cash Equivalents And Restricted Cash (Details)

Material Contracts, Statements, Certifications & more

Crown Castle International Corp provided additional information to their SEC Filing as exhibits

Ticker: CCI
CIK: 1051470
Form Type: 10-Q Quarterly Report
Accession Number: 0001051470-20-000104
Submitted to the SEC: Fri May 01 2020 4:25:28 PM EST
Accepted by the SEC: Fri May 01 2020
Period: Tuesday, March 31, 2020
Industry: Real Estate Investment Trusts

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