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Jun 30, 2021
SBA Q2 2021 Earnings Report
SBA Communications Corporation's financial performance improved due to increased US wireless carrier activity, record domestic services revenue, and strategic international investments.
Key Takeaways
SBA Communications Corporation reported strong second-quarter results, driven by increased U.S. wireless carrier activity and strategic international investments. Total revenue increased by 13.5% to $575.5 million, and net income rose significantly to $152.7 million, or $1.37 per share. The company also updated its full-year 2021 outlook, reflecting confidence in continued growth and profitability.
Net income was $152.7 million, or $1.37 per share.
AFFO per share grew by 15.3% year-over-year.
Total revenue reached $575.5 million.
The company issued $1.165 billion of Tower Securities at a 1.631% interest rate.
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
The Company is updating its full year 2021 Outlook for anticipated results. The Outlook provided is based on a number of assumptions that the Company believes are reasonable at the time of this press release.
Positive Outlook
- Site leasing revenue is expected to be between $2,080.0 million and $2,100.0 million.
- Site development revenue is projected to be between $180.0 million and $200.0 million.
- Total revenues are anticipated to range from $2,260.0 million to $2,300.0 million.
- Adjusted EBITDA is forecasted to be between $1,586.0 million and $1,606.0 million.
- AFFO per share is expected to be between $10.32 and $10.72.
Challenges Ahead
- The outlook assumes acquisitions of only those communication sites under contract.
- The outlook does not contemplate additional repurchases of the Company’s stock during 2021.
- The outlook assumes specific average foreign currency exchange rates.
- Net cash interest expense is expected to be between $351.0 million and $361.0 million.
- Non-discretionary cash capital expenditures are projected to be between $35.0 million and $45.0 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income