---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-24-122368"
form_type: "8-K"
ticker: "SBAC"
cik: "0001034054"
company_name: "SBA COMMUNICATIONS CORP"
filed_at: "2024-04-29T23:59:59+00:00"
generated_at: "2026-06-03T05:20:50.535431+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "medium"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001193125-24-122368
- form_type: 8-K
- ticker: SBAC
- cik: 0001034054
- company_name: SBA COMMUNICATIONS CORP
- filed_at: 2024-04-29T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: medium
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1034054/000119312524122368/0001193125-24-122368-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1034054/000119312524122368/d739171d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-24-122368
- JSON: https://secwatch.observer/filing/0001193125-24-122368.json
- Plain text: https://secwatch.observer/filing/0001193125-24-122368.txt

## Key facts
- Earnings Releases
  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
  source text: 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 %
  evidence_url: https://www.sec.gov/Archives/edgar/data/1034054/000119312524122368/0001193125-24-122368-index.htm

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