SBA Q1 beats with $1.72 EPS, revenue up 12.9%; raises 2022 guidance; declares $0.71 dividend

SBA COMMUNICATIONS CORP

2022-Q1 EPS reported $1.72 revenue$619,770,000

Net income $188.3M ($1.72 diluted EPS) vs loss of $11.7M in Q1 2021; AFFO per share $2.96, up 14.7%.
Total revenue $619.7M (+12.9%); site leasing rev $559.4M (+10.8%), site development rev $60.3M (+38.3%).
Adjusted EBITDA $423.8M (+8.6%); repurchased 1.3M shares at avg $332/shr.
Board declared $0.71/sh quarterly dividend, payable June 14 to holders of record May 19.
Raised full-year 2022 outlook on all key metrics; CEO cites strong demand and 5G buildouts across markets.

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