SBA CommunicationsNASDAQ: SBAC

SBA Communications Corporation announced mixed results for Q3 2024, with earnings per share and funds from operations surpassing expectations, but revenue was lower than anticipated, resulting in a lukewarm response from the market. Even with the drop in revenue, the company increased its full-year 2024 forecast, indicating optimism about future performance. Since April, the shares have outperformed the S&P 500 by 22%, and the stock is still considered a good 'buy' option because of its valuation and stability.

SBAC's Q3 results show a slight increase in domestic cash site-leasing revenues due to more activity from carriers. However, revenues from site development have decreased, which is a negative factor.

The main figures for SBA Communications (SBAC) provide an overview of the company's performance for the quarter that ended in September 2024. However, it could be useful to compare some important metrics with Wall Street predictions and the results from the same period last year.

SBA Communications (SBAC) reported quarterly funds from operations (FFO) of $3.32 per share, matching the Zacks Consensus Estimate. This is slightly lower than the FFO of $3.34 per share from the same period last year.

On Monday, SBA Communications increased its yearly prediction for adjusted funds from operations, expecting consistent activity from wireless carriers due to the rising demand for 5G networks.

BOCA RATON, Fla.--(BUSINESS WIRE)--SBA Communications Corporation (Nasdaq: SBAC) ("SBA" or the "Company") has announced its financial results for the quarter that ended on September 30, 2024. Key points from the third quarter include a net income of $255.9 million, which is $2.40 per share, and an industry-leading AFFO per share of $3.32. The company has also raised its full-year 2024 forecast for all major metrics and issued $2.07 billion in Tower Securities at a blended effective rate of 4.778%, which is over 1% lower than the previous estimate.

SBAC's earnings for the third quarter are expected to be influenced by the continuing consolidation in the wireless sector and an increase in customer turnover.

SBA Communications (SBAC) shared its earnings report 30 days ago. What can we expect for the stock moving forward?

SBA Communications (SBAC) is expected to see strong growth due to high demand for its wide range of infrastructure assets. This demand is fueled by the increasing use of data-driven mobile devices and applications.