SBA Communications Corporation Reports First Quarter 2022 Results

SBA Communications Corporation (NASDAQ: SBAC) yesterday reported results for the quarter ended March 31, 2022.

Highlights of the first quarter include:

• Net income of $188.3 million or $1.72 per share
• AFFO per share increased 14.7 percent over the prior year period
• Total revenue of $619.7 million, a 12.9 percent growth over the prior year period
• Repurchased 1.3 million shares in the first quarter at an average price per share of $332.00

In addition, the company announced that its Board of Directors has declared a quarterly cash dividend of $0.71 per share of the company’s Class A Common Stock. The distribution is payable June 14, 2022 to the shareholders of record at the close of business on May 19, 2022.

“We are off to a very strong start to 2022,” commented Jeffrey A. Stoops, President and Chief Executive Officer. “We produced double-digit growth in AFFO per share while operationally executing at a very high level. Our cash flows continue to grow, providing multiple opportunities for the creation of additional shareholder value.” Continue Reading