SBA Communications Q4 net income $109.5M, AFFO per share $3.37, dividend raised 15%

SBA COMMUNICATIONS CORP

2023-FY EPS reported $4.61 revenue$2,711,584,000

Net income $109.5M ($1.01 diluted EPS); AFFO per share $3.37, up 8.0% YoY.
Site leasing revenue $636.1M (+4.3%); site development revenue $39.0M (-49.1%).
Quarterly dividend increased 15% to $0.98/share, payable March 28, 2024.
Net debt to Adjusted EBITDA leverage at 6.3x, lowest in decades.
Issued new Term Loan B and extended revolving credit facility post-quarter.

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 December 31, 2023 results: revenue $636.1, net income $109.5 million, EPS $1.01 per share. Guidance reaffirmed.

Period: the quarter ended December 31, 2023
Revenue: $636.1
Net income: $109.5 million
EPS: $1.01 per share
Guidance: reaffirmed
Result: reported results

Exact text from the filing

comparisons to the prior year period. % Change excluding Q4 2023 Q4 2022 $ Change % Change FX (1) Consolidated ($ in millions, except per share amounts) Site leasing revenue $ 636.1 $ 609.6 $ 26.5 4.3 % 3.7 % Site development revenue 39.0 76.5 (37.5 ) (49.1 %) (49.1 %) Tower cash flow (1) 512.2 485.9 26.3 5.4 % 4.7 % Net income 109.5 102.6 6.9 6.7 % (14.4 %)

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Source: SEC EDGAR

accession 0001193125-24-046183

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