SBA Communications Raises Its FY2021 Outlook

By John Celentano, Inside Towers Business Editor

SBA Communications (NASDAQ: SBAC), like its towerco brethren, is benefiting from heightened cell site deployment activity among its biggest mobile network operator customers.     On the strength of site amendments and upgrades, and new leasing activity, SBAC’s site leasing revenues for 3Q21 grew to $417 million, up 9 percent on a year-over-year basis while international site leasing revenues grew nearly 14 percent to $109 million. Site development services were up almost 40 percent to $54 million due to demand for site preparation work that SBAC provides to its tenants. Adjusted EBITDA reached $407 million, a 9 percent increase over $373 million in 3Q20 while AFFO grew 12 percent YOY to $303 million. Continue Reading