NASDAQ$SBAC
SBA Communications Corporation · Q1 2023 earnings
Q1 2023 earnings · · Investor relations
Briefing
SBA Communications reported solid first quarter results, exceeding expectations in site leasing revenue and AFFO per share, and updated full year outlook.
SBA Communications Corporation reported first quarter 2023 results, featuring a 10.3% growth in site leasing revenue and an AFFO per share of $3.13. The company has updated its full year outlook for site leasing revenue, adjusted EBITDA, and AFFO. A quarterly cash dividend of $0.85 per share was declared.
- Net income was $100.6 million, or $0.92 per share.
- AFFO per share reached $3.13.
- Site leasing revenue totaled $617.3 million, a 10.3% increase year-over-year.
- The company increased its full year outlook for site leasing revenue, adjusted EBITDA, and AFFO.
Headline financials
Revenue & EPS history
SBA · Revenue · Quarterly
$676M
Revenue by segment
SBA · $58.2M total across 1 segment · Q1 2023
- Site Development$58.2M-3.5%100.0%
Forward guidance
The Company is updating its full year 2023 Outlook for anticipated results, assuming acquisitions under contract close and average foreign currency exchange rates.
Tailwinds
- Site leasing revenue is projected to be between $2,481.0 million and $2,501.0 million.
- Total revenues are expected to range from $2,686.0 million to $2,726.0 million.
- Tower Cash Flow is forecasted to be between $1,978.0 million and $1,998.0 million.
- Adjusted EBITDA is anticipated to be between $1,855.0 million and $1,875.0 million.
- AFFO per share is projected to be between $12.55 and $12.91.
Headwinds
- Net cash interest expense is expected to be between $378.0 million and $383.0 million.
- Non-discretionary cash capital expenditures are projected to be between $54.0 million and $64.0 million.
- Discretionary cash capital expenditures are anticipated to be between $330.0 million and $350.0 million.
- The outlook assumes acquisitions of only those communication sites under contract.
- The outlook does not contemplate additional repurchases of the Company’s stock or new debt financings.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2023
-0.1%
Avg return
Earnings day
+0.4%
Avg return
5 days after
+0.7%
Avg return
30 days after
50%
32 / 64 earnings
Positive
+9.4%
Q3 2023
Best reaction
-9.6%
Q2 2011
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -0.7% | +0.1% | -6.6% | |
| Q4 2025 | +4.7% | +2.2% | -13.1% | |
| Q3 2025 | +1.3% | +2.0% | -1.8% | |
| Q1 2025 | +6.8% | +8.4% | +3.1% | |
| Q4 2024 | +3.0% | +2.4% | +1.7% | |
| Q3 2024 | -4.2% | -6.7% | -5.5% | |
| Q2 2024 | +1.5% | +7.0% | +6.0% | |
| Q1 2024 | -5.2% | -1.6% | -5.0% | |
| Q4 2023 | -6.1% | -2.2% | +2.4% | |
| Q3 2023 | +9.4% | +5.8% | +20.7% | |
| Q2 2023 | -2.4% | -3.5% | -2.8% | |
| Q1 2023 | -5.3% | -8.2% | -15.0% | |
| Q4 2022 | -7.9% | -8.3% | -12.2% | |
| Q3 2022 | +2.1% | +0.9% | +10.8% | |
| Q2 2022 | +0.7% | +2.9% | -3.1% | |
| Q1 2022 | -4.1% | -5.3% | -5.5% | |
| Q4 2021 | +3.2% | +7.8% | +11.8% | |
| Q3 2021 | +3.8% | -0.3% | -1.7% | |
| Q2 2021 | +1.5% | +1.8% | +7.4% | |
| Q1 2021 | -0.6% | +1.1% | +0.7% | |
| Q4 2020 | -5.0% | -2.5% | +4.1% | |
| Q3 2020 | +0.2% | +5.6% | -2.0% | |
| Q2 2020 | -0.4% | -0.1% | +0.8% | |
| Q1 2020 | -0.1% | +1.2% | +4.2% | |
| Q4 2019 | +2.0% | +0.4% | -20.9% | |
| Q3 2019 | -2.2% | -1.6% | -2.7% | |
| Q2 2019 | +4.9% | +5.0% | +11.1% | |
| Q1 2019 | +1.3% | +2.9% | +1.3% | |
| Q4 2018 | -0.2% | -1.1% | +7.7% | |
| Q3 2018 | +0.8% | +4.0% | +3.0% | |
| Q2 2018 | -1.1% | -1.0% | -1.6% | |
| Q1 2018 | -0.9% | +0.1% | +0.0% | |
| Q4 2017 | -5.6% | -11.6% | -1.4% | |
| Q3 2017 | +7.1% | +5.3% | +15.7% | |
| Q2 2017 | -0.2% | +1.7% | +11.2% | |
| Q1 2017 | +2.0% | +2.5% | +9.2% | |
| Q4 2016 | +4.1% | +3.4% | +7.8% | |
| Q3 2016 | -5.2% | -6.4% | -15.2% | |
| Q2 2016 | +2.0% | +0.5% | +1.0% | |
| Q1 2016 | -3.9% | — | — | |
| Q4 2015 | -1.1% | — | — | |
| Q3 2015 | -8.6% | — | — | |
| Q2 2015 | +1.0% | — | — | |
| Q1 2015 | -1.2% | — | — | |
| Q4 2014 | +4.1% | — | — | |
| Q3 2014 | -1.7% | — | — | |
| Q2 2014 | -1.2% | — | — | |
| Q1 2014 | +5.7% | — | — | |
| Q4 2013 | -3.2% | — | — | |
| Q3 2013 | +4.0% | — | — | |
| Q2 2013 | -1.0% | — | — | |
| Q1 2013 | +1.1% | — | — | |
| Q4 2012 | +1.0% | — | — | |
| Q3 2012 | +0.4% | — | — | |
| Q2 2012 | +0.1% | — | — | |
| Q1 2012 | -0.4% | — | — | |
| Q4 2011 | +1.6% | — | — | |
| Q3 2011 | -1.7% | — | — | |
| Q2 2011 | -9.6% | — | — | |
| Q1 2011 | +2.1% | — | — | |
| Q4 2010 | -0.8% | — | — | |
| Q3 2010 | -2.1% | — | — | |
| Q2 2010 | +1.6% | — | — | |
| Q1 2010 | +3.0% | — | — |
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