SBA Communications Q2 net income $202M; AFFO $3.24; raises FY outlook, new AT&T MLA

SBA COMMUNICATIONS CORP

2023-Q2 EPS reported $2.79 revenue$1,354,016,000

Net income $202.0M ($1.87 diluted EPS); AFFO per share $3.24; site leasing revenue $626.1M (+7.9% YoY).
Full year 2023 outlook increased for Site Leasing Revenue, Tower Cash Flow, Adjusted EBITDA, and AFFO.
Declares quarterly cash dividend of $0.85/share, payable Sep 20, 2023 to record Aug 24, 2023.
Enters new long-term master lease agreement with AT&T to streamline 5G deployment across SBA's US tower portfolio.
Net debt to Adjusted EBITDA 6.6x (lowest in decades); used discretionary spending to retire floating-rate debt.

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 the quarter ended June 30, 2023 results: revenue $626.1 million, net income $202.0 million, EPS $1.87 per share. Guidance raised.

Period: the quarter ended June 30, 2023
Revenue: $626.1 million
Net income: $202.0 million
EPS: $1.87 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 June 30, 2023. Highlights of the second quarter include: • Net income of $202.0 million or $1.87 per share • AFFO per share of $3.24 • Site leasing revenue of $626.1 million

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Source: SEC EDGAR

accession 0001193125-23-199109

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