Recap: SBA Communications Q3 Earnings

Shares of SBA Communications SBAC were unchanged in after-market trading after the company reported Q3 results.

Quarterly Results

Earnings per share rose 5.26% year over year to $0.20, which missed the estimate of $0.46.

Revenue of $522,940,000 rose by 3.03% from the same period last year, which beat the estimate of $516,040,000.

Guidance

SBA Communications Raises Lower End and Cuts Higher End Of FY20 Sales Guidance From $2.047B-$2.087B To $2.065B-$2.085B Vs. $2.07B Est.

Details Of The Call

Date: Nov 02, 2020

Time: 05:00 PM

ET Webcast URL: https://event.on24.com/eventRegistration/EventLobbyServlet?target=reg20.jsp&referrer=https%3A%2F%2Fir.sbasite.com%2F&eventid=2626255&sessionid=1&key=598016888751D495162CD90B3A7BF96D&regTag=&sourcepage=register

Price Action

52-week high: $328.37

52-week low: $205.20

Price action over last quarter: down 5.41%

Company Description

SBA Communications owns and operates over 30,000 cell towers throughout North America and South America. It leases space on its towers to wireless service providers, who install equipment on the towers to support their wireless networks. The company has a very concentrated customer base, with most revenue in each market being generated by just the top few mobile carriers. The company owns more than 16,000 towers in the U.S., which accounted for three fourths of the company's total revenue in 2019. Internationally, SBA's greatest presence is in Brazil, where it operates roughly 10,000 towers. SBA operates as a real estate investment trust, or REIT.