SBA Q1 net income $154.5M; AFFO per share $3.29, up 5.1%; dividend raised 15%

SBA COMMUNICATIONS CORP

2024-Q1 EPS reported $1.42 revenue$657,862,000

Net income $154.5M ($1.42 diluted EPS); AFFO per share $3.29, up 5.1% YoY.
Site leasing revenue $628.3M (+1.8%); site development revenue $29.6M (-49.2% YoY).
Quarterly dividend raised to $0.98/share (15% higher), payable June 19, record May 23.
Repurchased ~935k shares for ~$200M in Q1 and subsequent period.
Full-year 2024 guidance updated; CEO notes steady carrier investment despite high rates.

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 first quarter ended March 31, 2024 results: revenue Site leasing revenue $ 628.3, net income $154.5 million, EPS $1.42 per share.

Period: first quarter ended March 31, 2024
Revenue: Site leasing revenue $ 628.3
Net income: $154.5 million
EPS: $1.42 per share
Result: reported results

Exact text from the filing

comparisons to the prior year period. Q1 2024 Q1 2023 $ Change % Change % Change excluding FX (1) Consolidated ($ in millions, except per share amounts) Site leasing revenue $ 628.3 $ 617.3 $ 11.0 1.8 % 1.5 % Site development revenue 29.6 58.2 (28.6 ) (49.2 %) (49.2 %) Tower cash flow (1) 506.0 491.0 15.0 3.0 % 2.6 % Net income 154.5 100.6 53.9 53.6 % 146.2 %

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SBA COMMUNICATIONS CORP filing history →

Source: SEC EDGAR

accession 0001193125-24-122368

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