---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-199109"
form_type: "8-K"
ticker: "SBAC"
cik: "0001034054"
company_name: "SBA COMMUNICATIONS CORP"
filed_at: "2023-07-31T23:59:59+00:00"
generated_at: "2026-06-12T21:39:03.562550+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001193125-23-199109
- form_type: 8-K
- ticker: SBAC
- cik: 0001034054
- company_name: SBA COMMUNICATIONS CORP
- filed_at: 2023-07-31T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1034054/000119312523199109/0001193125-23-199109-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1034054/000119312523199109/d505105d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-199109
- JSON: https://secwatch.observer/filing/0001193125-23-199109.json
- Plain text: https://secwatch.observer/filing/0001193125-23-199109.txt

## Key facts
- Earnings Releases
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/1034054/000119312523199109/0001193125-23-199109-index.htm

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