Crown Castle Raises FY21 Financial Targets
By Kimberly Chin
Crown Castle International Corp. raised its earnings forecast
for the fiscal 2021 year as the company sees demand for 5G leasing
picking up among customers.
The cell tower operator now expects site rental sales around
$5.67 billion to $5.72 billion for the year, up from its previous
outlook between $5.53 billion and $5.58 billion.
It expects adjusted funds from operations around $6.74 to $6.85
a share, compared its prior forecast of $6.64 to $6.74 a share.
Analysts predicted adjusted FFO around $6.71 a share, per a FactSet
"We are excited about the increasing level of activity we see in
our business as our customers have begun to deploy 5G at scale,"
Chief Financial Officer Dan Schlanger said in prepared remarks.
"We believe we are well positioned to support our growing number
of customers by providing a comprehensive set of solutions across
towers, small cells and fiber solutions, which are all necessary to
build out 5G wireless networks," he said.
Write to Kimberly Chin at email@example.com
(END) Dow Jones Newswires
April 21, 2021 17:09 ET (21:09 GMT)
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