SBA Communications Q3 net income $85.4M; raises full-year guidance; declares $0.85 dividend

SBA COMMUNICATIONS CORP

2023-Q3 EPS reported $3.60 revenue$2,036,560,000

Q3 net income $85.4M ($0.80 diluted EPS); AFFO per share $3.34, up 7.7% YoY.
Site leasing revenue $637.5M (+8.5% YoY); site development revenue $45.1M (-48.9% YoY).
Raised full-year 2023 guidance for site leasing revenue, Tower Cash Flow, Adjusted EBITDA, AFFO and AFFO per share.
Declared $0.85/share quarterly dividend, payable Dec 14; record Nov 16.
Repurchased $100M of common stock (0.5M shares) cumulative in Q3 and post-quarter; net debt/EBITDA 6.4x, lowest in decades.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

SBA COMMUNICATIONS CORP reported the quarter ended September 30, 2023 results: revenue $637.5 million, net income $85.4 million, EPS $0.80 per share. Guidance raised.

Period: the quarter ended September 30, 2023
Revenue: $637.5 million
Net income: $85.4 million
EPS: $0.80 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 September 30, 2023. Highlights of the third quarter include: • Net income of $85.4 million or $0.80 per share • AFFO per share of $3.34 • Site leasing revenue of $637.5 million

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Source: SEC EDGAR

accession 0001193125-23-269367

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