SBA Communications (SBAC) Reports Q1 Earnings: What Key Metrics Have to Say

SBA Communications (SBAC) reported $657.86 million in revenue for the quarter ended March 2024, representing a year-over-year decline of 2.6%. EPS of $3.29 for the same period compares to $0.93 a year ago.

The reported revenue represents a surprise of -1.87% over the Zacks Consensus Estimate of $670.42 million. With the consensus EPS estimate being $3.30, the EPS surprise was -0.30%.

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:

• Sites owned - International: 22,160 versus the three-analyst average estimate of 22,362.

• Sites decommissioned - Total: -67 versus the two-analyst average estimate of -27.

• Sites acquired - Total: 11 compared to the 171 average estimate based on two analysts.

• Sites built - Total: 76 compared to the 119 average estimate based on two analysts.

• Sites owned - Domestic: 17,478 compared to the 17,503 average estimate based on two analysts.

• Sites owned - Total: 39,638 compared to the 39,788 average estimate based on two analysts.

• Revenues- Site Leasing: $628.28 million versus the three-analyst average estimate of $635.43 million. The reported number represents a year-over-year change of +1.8%.

• Revenues- International Site Leasing: $166.80 million versus $169.09 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +2.7% change.

• Revenues- Domestic Site Leasing: $461.50 million compared to the $466.34 million average estimate based on three analysts. The reported number represents a change of +1.5% year over year.

• Revenues- Site Development: $29.59 million versus the three-analyst average estimate of $35.93 million. The reported number represents a year-over-year change of -49.2%.

• Net Earnings Per Share (Diluted): $1.42 versus $1.11 estimated by three analysts on average.

• Segment operating profit- Site Leasing (Domestic + International): $513.46 million compared to the $516.70 million average estimate based on two analysts.

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

Shares of SBA Communications have returned -9.5% over the past month versus the Zacks S&P 500 composite's -2% 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.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

SBA Communications Corporation (SBAC) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research