SBA Communications: Fourth Quarter Earnings Overview

SBA Communications Reports Fourth Quarter Earnings

SBA Communications Corp., headquartered in Boca Raton, Florida, announced its fourth-quarter financial results on Thursday, revealing profitability figures that did not meet analysts’ expectations.

During the quarter, the real estate investment trust reported funds from operations totaling $340.4 million, which equates to $3.19 per share.

According to Zacks Investment Research, the consensus estimate from four analysts was $3.25 per share in funds from operations.

Funds from operations is a key performance indicator for REITs, calculated by adjusting net income to add back non-cash expenses such as depreciation and amortization.

The company also disclosed a net income of $370.3 million, or $3.47 per share, for the period.

Revenue for the quarter reached $719.6 million, falling short of the $724.9 million forecasted by three analysts surveyed by Zacks.

Looking ahead, SBA Communications projects its full-year funds from operations to be between $11.84 and $12.29 per share, with anticipated revenue ranging from $2.82 billion to $2.86 billion.