PRESENTATION SBA Communications Corporation Third Quarter 2024 Supplemental Financial Data Key Financial and Operational Measures and Non-GAAP Financial Measures 2 This Supplemental Financial Data package provides key financial and operational data as well as reconciliations of those non-GAAP financial measures that SBA Communications Corporation ("SBA" or "We") use in evaluating the performance of our business. These non-GAAP financial measures include (1) Cash Site Leasing Revenue, (2) Core Recurring Cash ...

SBA Communications (SBAC) reported $667.6 million in revenue for the quarter ended September 2024, representing a year-over-year decline of 2.2%. EPS of $3.32 for the same period compares to $0.80 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $668.95 million, representing a surprise of -0.20%. The company has not delivered EPS surprise, with the consensus EPS estimate being $3.32.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wa ...

SBA Communications (SBAC) came out with quarterly funds from operations (FFO) of $3.32 per share, in line with the Zacks Consensus Estimate. This compares to FFO of $3.34 per share a year ago. These figures are adjusted for non-recurring items.A quarter ago, it was expected that this communications tower operator would post FFO of $3.28 per share when it actually produced FFO of $3.29, delivering a surprise of 0.30%.Over the last four quarters, the company has surpassed consensus FFO estimates two times.SBA ...

SBA Communications Corporation (SBAC) is scheduled to report third-quarter 2024 results on Oct. 28 after the market closes. The company’s quarterly results may display a decline in revenues and adjusted funds from operations (AFFO) per share year over year.Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.In the last reported quarter, this Boca Raton, FL-based communications tower REIT reported an AFFO per share of $3.29, beating the Zacks Consensus Estimate by a whisker. Results refl ...

Core Viewpoint - Analysts project that SBA Communications (SBAC) will report quarterly earnings of $3.32 per share, reflecting a year-over-year decline of 0.6%, with revenues expected to reach $668.95 million, down 2% from the same quarter last year [1] Group 1: Earnings and Revenue Estimates - The consensus EPS estimate has been revised 0.1% higher over the last 30 days, indicating a collective reevaluation by analysts [1] - Revenue from Site Development is projected at $37.78 million, showing a year-over-year decline of 16.2% [2] - International Site Leasing revenues are expected to be $166.70 million, down 1.4% from the prior-year quarter [2] - Domestic Site Leasing revenues are forecasted to reach $462.12 million, reflecting a year-over-year change of -1.3% [2] Group 2: Site Metrics - Estimated revenues from Site Leasing total $628.82 million, indicating a change of -1.4% from the prior-year quarter [3] - The consensus for International Sites owned is 22,411, up from 22,077 in the same quarter last year [3] - Domestic Sites owned are projected at 17,506, compared to 17,469 a year ago [3] - Total Sites owned are estimated at 39,947, compared to 39,546 last year [3] - Total Sites built is estimated at 128, up from 86 in the same quarter last year [3] Group 3: Profit and Depreciation Estimates - Segment operating profit for Site Leasing (Domestic + International) is expected to reach $515.51 million, down from $519.16 million year-over-year [3] - Segment operating profit for Site Development is projected at $10.32 million, compared to $13.61 million in the same quarter last year [4] - Depreciation, accretion, and amortization are estimated at $63.83 million, significantly lower than the year-ago figure of $180.67 million [4] Group 4: Stock Performance - SBA Communications shares have returned -0.2% over the past month, contrasting with the Zacks S&P 500 composite's +2.7% change [4] - The company holds a Zacks Rank 3 (Hold), suggesting it is expected to mirror overall market performance in the near future [4]

Since I last covered SBAC Communications Corporation (NASDAQ: SBAC ) back in May 2023 where I had a Hold position based on the need for a business reinvention, it suffered from a 19% downside as of October last year provingAs a tech-focused industry Research Analyst, I aim to provide differentiated insights, whether it is for investing, trading, or informational reasons. For this purpose, I am not a classical equity researcher from the financial sector, but, I come from the IT world as the Director of Keylo ...

SBA Communications (SBAC) shares soared 4% in the last trading session to close at $249.31. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 2.2% loss over the past four weeks. The increased investor optimism in the stock can be attributed to the favorable operating environment. This communications tower operator is expected to post quarterly funds from operations ( of $3.32 per share in its upcoming report, which represents a yea ...

Core Viewpoint - SBA Communications (SBAC) has experienced a 22% stock price increase over the past three months, outperforming the industry average of 17.8% [1] Company Overview - SBA Communications is a leading independent owner and operator of wireless communications infrastructure, generating revenues primarily from site leasing (94.8% of total revenues in Q2 2024) and site development services (5.2%) [1] Market Trends - The advancement in mobile technology, including 4G and 5G networks, along with the rise in bandwidth-intensive applications, has driven global mobile data usage growth. This trend is expected to benefit SBA Communications as wireless service providers enhance network coverage and capacity [4] - The company is expanding its business into domestic and select international markets with high growth potential, having acquired 128 towers and built 100 towers in the first half of 2024 [6] Financial Performance - Analysts have a positive outlook on SBA Communications, with a Zacks Rank of 3 (Hold). The Zacks Consensus Estimate for its third-quarter 2024 FFO per share has been slightly revised upward to $3.32 [3] - The company maintains a strong balance sheet with $309.4 million in cash and cash equivalents as of the end of Q2 2024, and only $30 million outstanding under its $2.0 billion revolving credit facility [7] Dividend Policy - SBA Communications has demonstrated a commitment to shareholder value through solid dividend payouts, having increased its dividend five times in the last five years, with a five-year annualized dividend growth rate of 22.42% [8]

Core Viewpoint - SBA Communications reported a mixed performance in its Q2 2024 earnings, with adjusted funds from operations (AFFO) per share beating estimates but total revenues declining year over year [2][3][10]. Financial Performance - Q2 2024 adjusted AFFO per share was $3.29, a 1.5% increase from the prior year, slightly above the Zacks Consensus Estimate [2]. - Total revenues for the quarter decreased by 2.7% year over year to $660.5 million, missing the Zacks Consensus Estimate of $664.5 million [3]. - Site-leasing revenues increased marginally to $626.5 million, with domestic revenues at $463.2 million (up 1.6% year over year) and international revenues at $163.3 million (down 2.9% year over year) [4][5]. Operational Insights - Site development revenues fell significantly by 35% year over year to $34 million, impacting overall results [5]. - The site-leasing operating profit was $512.3 million, with 98.7% of total operating profit derived from site leasing [5]. - Adjusted EBITDA was $467.1 million, a decrease of 1%, while the adjusted EBITDA margin improved to 71.3% from 70.3% in the prior year [5]. Portfolio Activity - In Q2, the company acquired 117 communication sites for $26.5 million and built 100 towers, bringing the total to 39,744 communication sites as of June 30, 2024 [6]. - Subsequent to the quarter, SBA Communications is under contract to acquire 106 additional communication sites for $49.3 million [7]. Cash Flow & Liquidity - Net cash from operating activities was approximately $425.6 million, down from $486.9 million in the previous year [8]. - As of June 30, 2024, the company had $309.4 million in cash and equivalents, an increase from $261.8 million as of March 31, 2024 [8]. - The company ended the quarter with a net debt-to-annualized adjusted EBITDA ratio of 6.4X [8]. Guidance and Outlook - The 2024 AFFO per share guidance was lowered to a range of $13.06-$13.43, down from $13.09-$13.46 [10]. - Site-leasing revenue guidance was revised down to $2,507-$2,527 million from $2,517-$2,537 million [10]. - Adjusted EBITDA guidance was also decreased to $1,876-$1,896 million from $1,889-$1,909 million [11]. Market Position - SBA Communications has a Zacks Rank of 3 (Hold), indicating an expectation of an in-line return in the coming months [14]. - The company has a Growth Score of B but lags in Momentum with a C, resulting in an aggregate VGM Score of C [13].

Core Viewpoint - SBA Communications (SBAC) has experienced a stock price increase of 13.3% over the past three months, outperforming the industry average of 12.4% [1] Financial Performance - In the second quarter of 2024, SBA Communications reported adjusted funds from operations (AFFO) per share of $3.29, slightly exceeding the Zacks Consensus Estimate [1] - The Zacks Consensus Estimate for the company's 2024 FFO per share has been revised upward to $13.22 [2] Business Model and Growth Drivers - The company possesses a diverse wireless communication infrastructure portfolio, benefiting from increased capital spending by wireless carriers for network expansion and 5G deployment [3] - SBA Communications operates a stable site-leasing business model, generating revenue primarily from long-term tower leases with built-in rent escalators, which contributes to high operating margins [4] - The company assists wireless service providers in network development and maintenance, offering services such as site identification, zoning approvals, and equipment installation [5] - SBA Communications has expanded its tower portfolio by acquiring 128 towers and building 100 towers in the first half of 2024, positioning itself to capitalize on mobile data usage trends [6] Dividend Policy - The company has increased its dividend five times in the last five years, with a five-year annualized dividend growth rate of 22.42%, indicating a commitment to sustainable dividend payouts [7] Industry Challenges - High customer concentration and ongoing consolidation in the wireless industry pose risks to the company's top-line growth [8] - Elevated interest rates are an additional concern for the company's financial performance [8]