SBA Communications Q1 Net Income $100.6M; EPS $0.92; AFFO per share $3.13; raises FY2023 outlook

SBA COMMUNICATIONS CORP

2023-Q1 EPS reported $0.93 revenue$675,516,000

Site leasing revenue of $617.3M, up 10.3% YoY; site development revenue $58.2M.
Adjusted EBITDA $459.3M, up 8.4%; AFFO $341.7M, up 5.4%.
Full year 2023 site leasing revenue, adjusted EBITDA, and AFFO guidance increased.
Quarterly cash dividend of $0.85 per share declared, payable June 21, 2023 to holders of record May 26, 2023.
Net debt/Adjusted EBITDA leverage ratio near multi-year lows; no refinancing until Oct 2024.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

SBA COMMUNICATIONS CORP reported first quarter ended March 31, 2023 results: revenue Site leasing revenue of $617.3 million, net income Net income of $100.6 million, EPS $0.92 per share. Guidance raised.

Period: first quarter ended March 31, 2023
Revenue: Site leasing revenue of $617.3 million
Net income: Net income of $100.6 million
EPS: $0.92 per share
Guidance: raised
Result: reported results

Exact text from the filing

SBA Communications Corporation (Nasdaq: SBAC) (“SBA” or the “Company”) today reported results for the quarter ended March 31, 2023. Highlights of the first quarter include: • Net income of $100.6 million or $0.92 per share • AFFO per share of $3.13 • Site leasing revenue of $617.3 million, representing a 10.3% growth over the prior year period • Increased full year outlook for site leasing revenue, adjusted EBITDA, and AFFO

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Source: SEC EDGAR

accession 0001193125-23-130434

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