Crown Castle International Lifts FY22 Outlook

(RTTNews) - While reporting it results for the first quarter on Wednesday, Crown Castle International Corp. (CCI) lifted its outlook for the full year 2022.

Looking forward, the company now expects income from continuing operations of $3.94 per share, adjusted funds from operations of $7.36 per share, and site rental revenues of $6.265 billion.

Previously, the company expected income from continuing operations of $3.85 per share, adjusted funds from operations of $7.36 per share, and site rental revenues of $6.225 billion.

Analysts polled by Thomson Reuters currently expect earnings of $3.88 per share and revenues of $6.89 billion.

"We are seeing the benefit of a robust 5G leasing environment that contributed to the 9% AFFO per share growth we delivered in the first quarter and led to an increase in our operating expectations for the full year 2022," stated Jay Brown, Crown Castle's Chief Executive Officer.