NASDAQ$SBAC

SBA Communications Corporation · Q4 2019 earnings

Q4 2019 earnings · · Investor relations

Briefing

SBA Communications Corporation reported Q4 2019 results and provided full year 2020 outlook.

SBA Communications Corporation reported a net income of $67.4 million, or $0.59 per share, and site leasing revenue of $481.1 million. The company's AFFO per share grew by 10.0% over the year earlier period on a constant currency basis. Tower Cash Flow and Adjusted EBITDA margins were 81.0% and 71.0%, respectively.

  • Net income of $67.4 million or $0.59 per share and site leasing revenue of $481.1 million
  • AFFO per share growth of 10.0% over the year earlier period on a constant currency basis
  • Tower Cash Flow and Adjusted EBITDA margins of 81.0% and 71.0%, respectively
  • Portfolio growth of 9.6% for the year, including 1,499 sites added during the quarter

Headline financials

Total Revenue

$514M

Previous: $484M+6.2%
EPS (adj)

$0.59

Previous: $0.50+18.0%
AFFO

$249M

No prior period
AFFO per Share

$2.18

No prior period
Quarterly Dividend per Share

$0.47

No prior period
Tower Cash Flow Margin

81.0%

No prior period
Adjusted EBITDA Margin

71.0%

No prior period
Capital Expenditures

$42.9M

Previous: $44.8M-4.4%
Free Cash Flow

$222M

Previous: $182M+22.3%
Net Income

$67.4M

Previous: $57.2M+17.9%
Operating Income

$154M

Previous: $150M+2.4%
Gross Profit

$392M

Previous: $362M+8.5%
Cash & Equivalents

$108M

Previous: $143M-24.5%
Total Assets

$9.76B

Previous: $7.21B+35.3%
Stock-Based Comp

$12.6M

Previous: $10.2M+23.5%

Revenue & EPS history

SBA · Revenue · Quarterly

$514M

Q4 2019+6.2%vs Q4 2018
Beat estimate in 9 of 16 quarters(56%)
ActualEstimate

Revenue by segment

SBA · $32.6M total across 1 segment · Q4 2019

  • Site Development
    $32.6M

Forward guidance

The Company is providing its initial full year 2020 Outlook for anticipated results. The Outlook provided is based on a number of assumptions that the Company believes are reasonable at the time of this press release.

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 Q4 2019

Historical avgQ4 2019

-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

Earnings price reactions
QuarterReport dateReaction (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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