CCI

How CCI Has Traded Around Earnings

Over the last eight reported quarters, CCI beat EPS estimates six times, a 75% beat rate, with an average earnings surprise of 78.5%. That outsized average is driven by lopsided beats such as the 2026-02-04 report, when actual EPS was $1.12 versus an estimate of $0.579 for a 93.4% surprise, and the 2026-07-22 report, when actual EPS of $0.69 compared to an estimate of $0.3904 produced a 76.7% surprise. Offsetting those was the 2026-04-22 miss, with actual EPS of $0.34 trailing the $0.3766 estimate by 9.7%. Despite the strong beat rate, the average five-day price move in the sessions after earnings across those eight quarters was -0.92%, classified as a down drift. In other words, CCI has often rewarded better-than-expected prints with short-term selling pressure: after the 2026-02-04 beat the stock dropped -8.99% the next day and ended the next five days essentially flat at -0.05%; after the 2025-10-22 beat the five-day drift was -5.51%; and even the July 2026 beat produced a -3.78% next-day drop before a 2.05% five-day bounce. The 2026-04-22 miss, in contrast, saw a +1.76% next-day gain.

Options-Flow Context Into the October 2026 Report

The next scheduled report is on 2026-10-21 after the close, with a consensus EPS estimate of $0.69. Given the 75% beat rate, the market's real expectation may already factor in a strong result, yet the -0.92% average post-earnings drift shows that realized upside has repeatedly been sold. Heading into the event, options implied volatility generally expands as traders price the binary risk around the $0.69 estimate. If history repeats and the move is smaller than implied—or if a beat is followed by another sell-the-news reaction like the one after 2026-02-04 or 2026-07-22—long-gamma exposure can suffer a rapid volatility contraction after the event. Watch whether positioning clusters near the $81.18 50-day EMA on the call side or near the current $76.3 level on the put side. A high beat probability combined with a negative average drift can create a counter-directional setup where the options market prices in a larger move than the historical record supports.

What a Disciplined Trader Should Watch

A disciplined approach combines the high beat probability with the persistently negative drift. First, look at the size of any surprise relative to the $0.69 estimate, not just whether CCI beats or misses; a narrow beat could still face the same sell-the-news pressure seen in 2025-10-22 and 2026-02-04. Second, track the price location heading into the event: CCI is currently at $76.3, below the $81.18 50-day EMA, with an RSI of 43.7, so a post-earnings rally would need to absorb that moving-average zone. Third, distinguish the next-day gap from the five-day drift; the average -0.92% five-day move suggests the post-event move can continue to evolve. Fourth, remember the 2026-04-22 example, where a -9.7% miss was met with a +1.76% next-day gain, confirming that direction of the print does not always determine direction of the price. Use these historical reference points to frame risk and position size, not to predict the outcome. For a deeper dive into how institutional models and the full sell-side distribution view the upcoming report, explore the full institutional verdict.