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Dec 31, 2022
SBA Q4 2022 Earnings Report
SBA Communications reported solid Q4 2022 results, achieving record annual results and positioning the company well for 2023.
Key Takeaways
SBA Communications Corporation reported a strong fourth quarter in 2022, with total revenue of $686.1 million, a 15.3% increase over the prior year period. Net income was $102.6 million, or $0.94 per share, and AFFO per share increased by 11.0% over the prior year period. The company also declared a quarterly cash dividend of $0.85 per share, representing an increase of approximately 20% over the dividend paid in the fourth quarter.
Net income reached $102.6 million, equivalent to $0.94 per share.
AFFO per share saw an 11.0% increase compared to the previous year.
Total revenue grew to $686.1 million, marking a 15.3% increase year-over-year.
A quarterly cash dividend of $0.85 per share was declared, a 20% increase over Q4.
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 providing its initial full year 2023 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 $2,469.0 to $2,489.0 million
- Site development revenue $205.0 to $225.0 million
- Total revenues $2,674.0 to $2,714.0 million
- Tower Cash Flow $1,971.0 to $1,991.0 million
- Adjusted EBITDA $1,845.0 to $1,865.0 million
Challenges Ahead
- Net cash interest expense $377.0 to $382.0 million
- Non-discretionary cash capital expenditures $53.0 to $63.0 million
- AFFO $1,366.0 to $1,406.0 million
- AFFO per share $12.46 to $12.83
- Discretionary cash capital expenditures $283.0 to $303.0 million
Revenue & Expenses
Visualization of income flow from segment revenue to net income