{"schema_version":"secwatch.filing_event.v1","accession":"0001193125-25-100556","form_type":"8-K","ticker":"SBAC","cik":"0001034054","company_name":"SBA COMMUNICATIONS CORP","filed_at":"2025-04-28T23:59:59+00:00","discovered_at":"2026-05-14T18:02:47.225166+00:00","generated_at":"2026-05-23T04:39:46.305078+00:00","sec_items":["2.02","9.01"],"event_type":"earnings","sentiment":"positive","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"SBA Communications Q1 AFFO $3.18/sh, net income $189M; raises FY2025 outlook, declares $1.11 dividend, $1.5B buyback","bullets":["Net income $189M ($1.77 diluted EPS); AFFO $343.9M ($3.18 per share).","Site leasing revenue $616.2M (-1.9% YoY); site development revenue $48.0M (+62.4%).","Adjusted EBITDA $457.3M; net debt/EBITDA leverage 6.4x; cash balance >$600M.","Quarterly dividend of $1.11/share declared; payable June 17, 2025 to holders of record May 22.","Repurchased 583k shares for $122.9M post-quarter; Board approved new $1.5B buyback authorization."],"urls":{"canonical":"https://secwatch.observer/filing/0001193125-25-100556","json":"https://secwatch.observer/filing/0001193125-25-100556.json","markdown":"https://secwatch.observer/filing/0001193125-25-100556.md","text":"https://secwatch.observer/filing/0001193125-25-100556.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1034054/000119312525100556/0001193125-25-100556-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1034054/000119312525100556/d788453d8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-23T04:39:46.305078+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}