Bridge of 2022 Total Site Leasing Revenue to 2023 Guidance ($M) 1. Represents core recurring cash leasing revenue (see page 5 for reconciliation of this non-GAAP metric) 2. Includes contributions from acquisitions and new infrastructure builds 3. Includes pass-through reimbursable expenses, amortization of capital contributions for tower augmentations, managed and non-macro business and other miscellaneous items 4. Based on guidance issued on November 2, 2023 Consolidated Domestic International $1,778 $78 $ ...

Financial Data and Key Metrics Changes - Total GAAP site leasing revenues for Q3 2023 were $637.5 million, with cash site leasing revenues at $630.4 million, reflecting a foreign exchange headwind of approximately $1.4 million compared to the previous year [4][122] - Adjusted funds from operations (AFFO) in Q3 was $364.1 million, with AFFO per share increasing by 7.7% to $3.34 compared to Q3 2022 [14][122] - The net debt-to-annualized adjusted EBITDA leverage ratio was 6.4x, the lowest level in the company's history, down 0.2 turns from the previous quarter [21][24] Business Line Data and Key Metrics Changes - Domestic same-tower recurring cash leasing revenue growth was 4.7% net for Q3 2023, including a churn impact of 4.1% [5][124] - The services business generated $45.1 million in revenue with an operating profit of $13.6 million, maintaining strong execution despite lower activity levels compared to last year [13][132] - International same-tower cash leasing revenue growth was 4.5% net, with a churn impact of 4.9% [128] Market Data and Key Metrics Changes - Wireless data use continues to grow significantly, necessitating additional infrastructure to maintain service quality, particularly in international markets [8][10] - Brazil, the largest market outside the U.S., showed a same-tower organic growth rate of 2.6% on a constant currency basis, impacted by a 6.3% churn [129] - The company expects Sprint-related churn for 2023 to be $28 million, with 2024 estimated at $30 million [9] Company Strategy and Development Direction - The company plans to continue investing in high-quality assets and services, focusing on organic growth and maintaining strong cash flow margins [12][138] - There is an emphasis on maintaining flexibility in capital allocation, balancing between debt repayment, stock buybacks, and potential acquisitions [30][140] - The company anticipates continued growth in dividends at a rate higher than AFFO growth, while keeping a low AFFO payout ratio [136][140] Management's Comments on Operating Environment and Future Outlook - Management noted that while macroeconomic conditions present challenges, there are still opportunities for network investment, particularly in wireless coverage and quality of service [10][27] - The expectation is for a gradual increase in activity levels as carriers deploy remaining spectrum, despite current subdued demand [36][146] - Management expressed confidence in the long-term growth of wireless demand and the necessity for infrastructure investment [27][49] Other Important Information - The company repurchased 0.5 million shares for $100 million at an average price of $197.89 during the quarter [17] - The company has a remaining stock repurchase authorization of $404.7 million under its $1 billion plan [25] - The current weighted average interest rate on total outstanding debt is 3.1%, with no debt maturities until October 2024 [135][30] Q&A Session Summary Question: What are the expectations for leasing growth activity? - Management indicated that leasing growth is in line with previous expectations, though slightly slower than earlier in the year due to the pace of carrier investments [57] Question: How does the company view the M&A environment? - The M&A environment remains competitive, with high valuations in both public and private markets, influencing capital allocation decisions [51] Question: What is the outlook for Sprint-related churn? - Management clarified that while the total churn remains consistent, the timing of realization may vary, with 2024 expected to see $30 million in Sprint-related churn [43] Question: How does the company plan to manage its capital allocation in light of upcoming debt maturities? - Management expressed confidence in access to capital markets and indicated that capital allocation will focus on the best return on investment, balancing between debt repayment and potential investments [80][82]

SBA Communications Corporation (NASDAQ:SBAC) Goldman Sachs 2023 Communacopia + Technology Conference Call September 6, 2023 1:50 PM ET Â Company Participants Brendan Cavanagh - Executive Vice President and Chief Financial Officer Conference Call Participants Brett Feldman - Goldman Sachs Brett Feldman All right. Welcome. WeÂ're going to go ahead and get started here with our next session. And itÂ's a pleasure to welcome back to the Communacopia + Technology Conference, Brendan Cavanagh, the current CFO, but ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 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 ...

SBA Communications Corporation (NASDAQ:SBAC) Q2 2023 Earnings Conference Call July 31, 2023 5:00 PM ET Company Participants Mark DeRussy - Vice President of Finance Brendan Cavanagh - Chief Financial Officer Jeff Stoops - President & Chief Executive Officer Conference Call Participants Ric Prentiss - Raymond James Michael Rollins - Citi Simon Flannery - Morgan Stanley Phil Cusick - JP Morgan Jonathan Atkin - RBC David Barden - Bank of America Walter Piecyk - LightShed Batya Levi - UBS Nick Del Deo - Moffett ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 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) Regist ...

SBA Communications Corporation (NASDAQ:SBAC) Q1 2023 Earnings Conference Call May 2, 2023 5:00 PM ET Company Participants Jeff Stoops - President, Chief Executive Officer Brendan Cavanagh - Chief Financial Officer Mark DeRussy - Vice President of Finance Conference Call Participants Nick Del Deo - MoffettNathanson Jonathan Atkin - RBC Walter Piecyk - LightShed David Arden - Bank of America Michael Rollins - Citi Brandon Nispel - Keybanc Capital Market Ric Prentiss - Raymond James Batya Levi - UBS Simon Flan ...

SBA Communications Corporation First Quarter 2023 2 These non-GAAP financial measures include (1) Cash Site Leasing Revenue, (2) Core Recurring Cash Leasing Revenue, (3) Tower Cash Flow and Tower Cash Flow Margin, (4) Adjusted EBITDA, Annualized Adjusted EBITDA, and Adjusted EBITDA Margin, (5) Return on Invested Capital, (6) Net Debt, Net Secured Debt, Leverage Ratio, Net Cash Interest Coverage Ratio, and Secured Leverage Ratio, (7) Funds From Operations, Adjusted Funds From Operations, and Adjusted Funds F ...

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, 2022 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 (NASDAQ:SBAC) Q4 2022 Earnings Conference Call February 21, 2023 5:00 PM ET Company Participants Mark DeRussy - Vice President, Finance Jeff Stoops - President and Chief Executive Officer Brendan Cavanagh - Chief Financial Officer Conference Call Participants Ric Prentiss - Raymond James Phil Cusick - JPMorgan Simon Flannery - Morgan Stanley Greg Williams - Cowen Michael Rollins - Citi Brett Feldman - Goldman Sachs Nick Del Deo - SVB MoffettNathanson Brendan Lynch - Barclays B ...