5 Most Anticipated Earnings to Watch on Wednesday

In this article, we discuss the 5 most anticipated earnings to watch on Wednesday. If you want to see some more companies reporting earnings this week, go directly to 10 Most Anticipated Earnings to Watch on Wednesday.

5. Crown Castle International Corp. (NYSE:CCI)

Number of Hedge Fund Holders: 50

Crown Castle International Corp. (NYSE:CCI) is set to post its financial results for the second quarter after the closing bell on Wednesday, July 20, 2022. The shared communications infrastructure provider is expected to report earnings of 96 cents per share on revenue of $1.71 billion.

For the first quarter, Crown Castle International Corp. (NYSE:CCI) surpassed profit and sales expectations. It reported earnings of 97 cents per share on revenue of $1.74 billion, while analysts were looking for earnings of 94 cents per share on revenue of $1.69 billion.

Separately, investment management firm ClearBridge Investments talked about Crown Castle International Corp. (NYSE:CCI) in its Q1 2022 investor letter, stating:

“U.S. communications company Crown Castle International (NYSE:CCI) was the largest detractor from quarterly performance. Crown Castle is the leading independent owner and operator of wireless communications infrastructure in the U.S. with a portfolio of approximately 40,000 towers. The stock underperformed as, driven by rising interest rates, investors rotated away from defensive into more value-oriented sectors. Communications infrastructure remains attractive, however, as companies continue to deploy greater capital spend to support the strong tailwinds from 5G.”