Compared to Estimates, SBA Communications (SBAC) Q1 Earnings: A Look at Key Metrics

SBA Communications (SBAC) reported $675.52 million in revenue for the quarter ended March 2023, representing a year-over-year increase of 9%. EPS of $3.13 for the same period compares to $1.72 a year ago.

The reported revenue represents a surprise of -0.10% over the Zacks Consensus Estimate of $676.21 million. With the consensus EPS estimate being $3.11, the EPS surprise was +0.64%.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.

Here is how SBA Communications performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

• Revenues- Site Development: $58.25 million versus the four-analyst average estimate of $62.38 million. The reported number represents a year-over-year change of -3.4%.

• Revenues- Site Leasing: $617.27 million versus $612.48 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +10.3% change.

• Revenues- Domestic Site Leasing: $454.83 million compared to the $456.07 million average estimate based on three analysts. The reported number represents a change of +5.1% year over year.

• Revenues- International Site Leasing: $162.44 million versus the three-analyst average estimate of $154.93 million. The reported number represents a year-over-year change of +28.5%.

• Segment operating profit- Site Development: $14.06 million versus the three-analyst average estimate of $15.17 million.

• Segment operating profit- Site Leasing (Domestic+International): $497.15 million versus the three-analyst average estimate of $496.62 million.

View all Key Company Metrics for SBA Communications here>>>

Shares of SBA Communications have returned -0.1% over the past month versus the Zacks S&P 500 composite's +5.1% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

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