---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-130434"
form_type: "8-K"
ticker: "SBAC"
cik: "0001034054"
company_name: "SBA COMMUNICATIONS CORP"
filed_at: "2023-05-01T23:59:59+00:00"
generated_at: "2026-06-16T04:34:23.809463+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001193125-23-130434
- form_type: 8-K
- ticker: SBAC
- cik: 0001034054
- company_name: SBA COMMUNICATIONS CORP
- filed_at: 2023-05-01T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1034054/000119312523130434/0001193125-23-130434-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1034054/000119312523130434/d459940d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-130434
- JSON: https://secwatch.observer/filing/0001193125-23-130434.json
- Plain text: https://secwatch.observer/filing/0001193125-23-130434.txt

## Key facts
- Earnings Releases
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/1034054/000119312523130434/0001193125-23-130434-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.