SBA Communications Corporation (SBAC) reported first-quarter 2025 adjusted funds from operations (AFFO) per share of $3.18, beating the Zacks Consensus Estimate of $3.12. However, the figure implies a drop of 3.3% from the prior-year quarter.SBAC results reflect a significant improvement in site-development revenues during the quarter. However, higher costs and interest expenses undermined the performance to some extent. The company revised its 2025 outlook.Quarterly total revenues increased marginally year ...

Financial Data and Key Metrics Changes - The company reported a solid start to 2025, with results broadly in line with estimates and a healthy level of growth in activity levels [4] - The full-year outlook for key metrics including site leasing revenue, tower cash flow, adjusted EBITDA, AFFO, and FFO per share has been increased due to strong first-quarter results and improved service outlook [13][20] - First-quarter domestic organic leasing revenue growth was 5.2% on a gross basis and 1% on a net basis, with churn at 4.2% [13] - International organic leasing revenue growth for the first quarter was 1.6% net, including 5.6% churn [15] Business Line Data and Key Metrics Changes - The U.S. leasing business saw a significant increase in new lease co-locations compared to amendments to existing leases, indicating a positive trend in new business [5][6] - The U.S.-based services business exceeded expectations, with a growing backlog for services during the quarter [6] - The company acquired 344 sites for $58 million, primarily related to the acquisition of sites for Minicom in Nicaragua [15] Market Data and Key Metrics Changes - Elevated CPI rates in some international markets have the potential for better existing lease escalations during the year [7] - The company has not experienced direct impacts from current tariff policies, maintaining steady cash flow and robust customer needs [10] Company Strategy and Development Direction - The company is focused on operational execution, driving efficiencies through new technologies, and enhancing relationships with major customers [11] - The exit from The Philippines and the formal sale of Colombian operations have improved resource allocation and market focus [8][9] - The company plans to continue exploring opportunities for additional early closings on acquisitions [9] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's stability and future, citing strong cash flow generation and robust customer needs [10] - The management noted that the current macroeconomic environment has not negatively impacted sales or leasing discussions with customers [80] - Future leasing activity is expected to increase as carriers focus on network development and investment [75] Other Important Information - The company repurchased 583,000 shares at an average price of $210.87 and announced a new $1.5 billion share repurchase plan [10][20] - A quarterly dividend of $1.11 per share was declared, representing a 13% increase over the previous year [20] Q&A Session Summary Question: Updates on carrier plans in the U.S. and capital allocation - Management noted a positive carrier environment with increased leasing activity and a growing backlog, indicating ongoing network investment needs [26][27] - The company remains flexible in capital allocation, balancing buybacks, asset investments, and debt repayments [30] Question: Visibility on U.S. leasing run rate and bilateral contracting relationships - Management expects to end the year with a higher leasing run rate than the first quarter, with a focus on new leases rather than amendments [34] - The company has not typically had holistic master lease agreements but remains open to such arrangements [39] Question: Drivers of higher network services business and churn dynamics - The growth in services is attributed to one customer operating at a faster pace than expected, with churn dynamics remaining in line with expectations [45][46] - Management anticipates elevated churn in Brazil due to ongoing consolidation impacts [75] Question: Insights on international growth and straight-line revenue - Management expects organic growth to improve as carriers invest in their networks post-consolidation, although some markets may experience elevated churn [72][75] - Straight-line revenue is negative due to the maturity of contracts, but new leases may help stabilize this in the future [68] Question: Impact of regulatory requirements on colocation and leasing activity - Regulatory requirements are driving some of the colocation activity, with a mix of commercial and regulatory needs influencing leasing decisions [98] - The company expects continued growth in colocation activity as carriers densify their networks [128] Question: M&A opportunities and market valuations - Management indicated that private multiples for tower acquisitions remain higher than public multiples, particularly in the U.S. market [130] - The company is open to pursuing M&A opportunities if they present value at competitive prices [48]

SBA Communications (SBAC) came out with quarterly funds from operations (FFO) of $3.16 per share, beating the Zacks Consensus Estimate of $3.12 per share. This compares to FFO of $3.29 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an FFO surprise of 1.28%. A quarter ago, it was expected that this communications tower operator would post FFO of $3.37 per share when it actually produced FFO of $3.47, delivering a surprise of 2.97%.Over the last four ...

FOR IMMEDIATE RELEASE SBA Communications Corporation Reports First Quarter 2025 Results; Updates Full Year 2025 Outlook; and Declares Quarterly Cash Dividend Exhibit 99.1 (1) See the reconciliations and other disclosures under "Non-GAAP Financial Measures" later in this press release. (2) Site leasing contributed 98.1% of the Company's total operating profit in the first quarter of 2025. Boca Raton, Florida, April 28, 2025 (BUSINESS NEWSWIRE) — SBA Communications Corporation (Nasdaq: SBAC) ("SBA" or the "Co ...

SBA Communications (SBAC) shares rallied 5.3% in the last trading session to close at $230.87. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 0.5% loss over the past four weeks.The increased optimism is driven by the solid underlying fundamentals of the wireless communications infrastructure sector.This communications tower operator is expected to post quarterly funds from operations (FFO) of $3.11 per share ...

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Core Viewpoint - SBA Communications (SBAC) is well-positioned to benefit from the high capital spending of wireless carriers for network expansion, driven by the growth in mobile data usage and supported by long-term leases that ensure stable revenues [1][4]. Group 1: Market Demand and Business Model - The advancement of mobile technology, including 4G and 5G networks, has significantly increased global mobile data usage, leading to higher demand for SBA Communications' wireless infrastructure [3]. - The company operates a resilient site-leasing business model, generating most of its revenues from long-term tower leases with built-in rent escalators, which enhances its attractiveness [4]. Group 2: Revenue Growth Expectations - Management anticipates organic site leasing revenues to rise in 2025 compared to 2024, driven by wireless carriers deploying unused spectrum and revenues from newly acquired and built towers [5]. - In 2024, SBA Communications acquired 186 towers and built 482 towers, indicating a strong commitment to expanding its portfolio [6]. Group 3: Expansion Efforts - The company is actively expanding its tower portfolio and exploring growth opportunities in both domestic and select international markets with high growth potential [6]. - Following the fourth quarter of 2024, SBA Communications is under contract to purchase 32 communication sites for $14.6 million, further positioning itself to leverage trends in mobile data usage [7]. Group 4: Dividend Payments - SBA Communications announced a quarterly cash dividend of $1.11 per share in February 2025, reflecting a nearly 13% increase from the previous quarter, with a five-year annualized dividend growth rate of 19.75% [8].

The REIT and Equity Trust - Other industry counterparts are likely to face the impacts of macroeconomic uncertainty, policy shifts and resulting inflationary pressures, along with a sustained period of elevated interest rates. Moreover, shifting tenant preferences are widening market gaps, making it harder for non-prime properties to compete.Nevertheless, with the industry catering to a wide range of real estate categories, there are pockets of strength with solid demand across certain asset categories, bac ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K x ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2024 OR ¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________ to ___________ Commission file number: 001-16853 SBA COMMUNICATIONS CORPORATION (Exact name of Registrant as specified in its charter) Florida 6 ...

SBA Communications Corporation (SBAC) reported fourth-quarter 2024 adjusted funds from operations (AFFO) per share of $3.47, beating the Zacks Consensus Estimate of $3.36. The figure also reflects a rise of 3% from the prior-year quarter.See the Zacks Earnings Calendar to stay ahead of market-making news.SBAC results reflect an improvement in site-leasing and site-development revenues during the quarter. The company announced an increase in dividends and issued its 2025 outlook.Quarterly total revenues incr ...