SBA Communications Earnings: Everything You Must Know Now

SBA Communications Corp. (NASDAQ:SBAC) had a loss and missed Wall Street’s expectations, BUT beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company.

SBA Communications Corp. Earnings Cheat Sheet

Results: Adjusted Earnings Per Share increased to $-0.28 in the quarter versus EPS of $-0.44 in the year-earlier quarter.

Revenue: Rose 41.52% to $324.3 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: SBA Communications Corp. reported adjusted EPS loss of $0.28 per share. By that measure, the company missed the mean analyst estimate of $-0.11. It beat the average revenue estimate of $314 million.

Quoting Management: “The second quarter was another strong one for SBA,” commented Jeff Stoops, President and CEO. “Our domestic customers continue to stay very busy, with both high levels of 4G amendment activity on existing macro sites and an increasing amount of new macro site deployment activity. Activity in our international markets was strong as well. Based on our existing backlogs, we expect continued strength in both our leasing and services segments for the remainder of 2013 and into 2014. We expect our portfolio growth will accelerate materially in the second half of 2013, primarily as a result of our recently announced Oi transaction in Brazil, which upon its anticipated closing later this year will result in us once again surpassing our annual portfolio growth goals. We expect the combination of strong continued customer activity and material portfolio growth will allow us to finish 2013 with, and position 2014 for, material growth in site leasing revenue, adjusted EBITDA, AFFO and AFFO per share.”

Key Stats (on next page)…

Revenue increased 3.59% from $313.07 million in the previous quarter. EPS decreased to $-0.28 in the quarter versus EPS of $-0.18 in the previous quarter.

Looking Forward: Analysts have a more positive outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has risen from a loss of $0.14 to a loss $0.12. For the current year, the average estimate has moved up from a loss of $0.62 to a loss of $0.54 over the last ninety days.

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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)

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