---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-24-046183"
form_type: "8-K"
ticker: "SBAC"
cik: "0001034054"
company_name: "SBA COMMUNICATIONS CORP"
filed_at: "2024-02-26T23:59:59+00:00"
generated_at: "2026-06-05T14:22:09.284580+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001193125-24-046183
- form_type: 8-K
- ticker: SBAC
- cik: 0001034054
- company_name: SBA COMMUNICATIONS CORP
- filed_at: 2024-02-26T23:59:59+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/1034054/000119312524046183/0001193125-24-046183-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1034054/000119312524046183/d764571d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-24-046183
- JSON: https://secwatch.observer/filing/0001193125-24-046183.json
- Plain text: https://secwatch.observer/filing/0001193125-24-046183.txt

## Key facts
- Earnings Releases
  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
  source text: 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 %)
  evidence_url: https://www.sec.gov/Archives/edgar/data/1034054/000119312524046183/0001193125-24-046183-index.htm

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