Duplicate of CCI 3Q23 Quick Take
Service revenue, EBITDA and EPS were all slightly better than consensus. Operating FCF beat slightly too, and reported FCF beat by a wide margin thanks to a strong contribution from DTV. Wireless adds beat on very low churn. Fiber adds beat too. Guidance was increased for EBITDA and FCF. Our thoughts on results and our preliminary read throughs for wireless and broadband markets in this brief note.Crown Castle International is a holding company. Through its subsidiaries, the company owns, operates and leases shared communications infrastructure that is geographically dispersed throughout the U.S., including towers and other structures, such as rooftops (collectively, towers), and fiber primarily supporting small cell networks (small cells) and fiber solutions. The company's towers, fiber and small cells assets are collectively referred to herein as communications infrastructure. The company's core business is providing access, including space or capacity, to its shared communications infrastructure via long-term contracts in various forms, including lease, license, sublease and service agreements.
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- Pan European Telecom Services and Cable
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