Loading...
•
Mar 31
SBA Q1 2025 Earnings Report
SBA Communications reported a solid start to 2025 with increased net income, a new share repurchase program, and raised full-year guidance.
Key Takeaways
SBA Communications posted strong financial results with $664 million in revenue and $189 million in net income, supported by higher U.S. carrier activity and solid international performance. The company authorized a new $1.5 billion stock buyback and increased its full-year 2025 outlook.
Net income rose to $189 million compared to $154.5 million a year ago.
EPS increased to $1.77, with AFFO per share reaching $3.18.
The company authorized a new $1.5 billion share repurchase program.
Raised full-year 2025 financial outlook across major metrics.
SBA
SBA
SBA Revenue by Segment
SBA Revenue by Geographic Location
Revenue by Segment
Domestic Site Leasing Revenue
CapyFin.comInternational Site Leasing Revenue
CapyFin.comSite Development Revenue
CapyFin.comRevenue by Geographic Location
Domestic Revenue
CapyFin.comInternational Revenue
CapyFin.com Forward Guidance
SBA raised its full-year 2025 outlook, expecting improvements in revenues, AFFO, and Adjusted EBITDA due to solid leasing activity and new site acquisitions.
Positive Outlook
- Raised total revenue guidance by $26 million to $2,716–$2,761 million.
- Increased AFFO guidance by $8 million.
- New $1.5 billion share repurchase authorization.
- Maintains a strong balance sheet with over $600 million in cash.
- Solid backlog and expected growth in U.S. and international markets.
Challenges Ahead
- Challenging macroeconomic environment could affect customer spending.
- High leverage ratio of 6.4x net debt to annualized Adjusted EBITDA.
- Decline in international site leasing revenue year-over-year.
- Exposure to foreign exchange fluctuations impacting financials.
- Increased interest expenses compared to prior year.