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Crown Castle’s (NYSE:CCI) site and service revenue is expected to slow as the company shifts its focus from the Towers business to the fiber segment.
The company recently discontinued installation services as a product offering within the Towers segment. The tower activity is anticipated to be lower for the rest of the year, and the company is favoring fiber and small cells business, accounting for ~30% of the revenue. The tower work had declined following less spend from carriers, Bloomberg Intelligence said in a recent report.
However, the fiber and small cells business is more capital-intensive than towers, and is still not a key carrier priority.
The telecom tower REIT is scheduled to announce Q3 earnings results on Wednesday, October 18th, after market close.
The consensus FFO estimate is $1.80 (-6.94% Y/Y) and the consensus revenue estimate is $1.7B (-2.45% Y/Y).
Over the last 2 years, CCI has beaten FFO estimates 88% of the time and revenue estimates 100% of the time.
