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Sep 30, 2024
SBA Q3 2024 Earnings Report
SBA Communications reported third quarter results, updated full year outlook, and declared quarterly cash dividend.
Key Takeaways
SBA Communications Corporation reported net income of $255.9 million, or $2.40 per share, and AFFO per share of $3.32. The company increased its full year 2024 outlook across all key metrics and made significant progress with regard to its balance sheet.
Net income was $255.9 million or $2.40 per share.
AFFO per share was $3.32.
Full year 2024 outlook was increased across all key metrics.
An agreement was entered into to purchase over 7,000 sites in Central America from Millicom.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
The Company is updating its full year 2024 Outlook for anticipated results.
Positive Outlook
- Site leasing revenue is expected to be between $2,520.0 to $2,530.0 million.
- Site development revenue is expected to be between $140.0 to $150.0 million.
- Total revenues are expected to be between $2,660.0 to $2,680.0 million.
- Tower Cash Flow is expected to be between $2,040.0 to $2,050.0 million.
- Adjusted EBITDA is expected to be between $1,890.0 to $1,900.0 million.
Challenges Ahead
- Net cash interest expense is expected to be between $355.0 to $361.0 million.
- Non-discretionary cash capital expenditures are expected to be between $51.0 to $57.0 million.
- AFFO is expected to be between $1,427.0 to $1,454.0 million.
- AFFO per share is expected to be between $13.20 to $13.45.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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