SBA Communications Reports Third Quarter 2022 Results

SBA Communications Corporation (NASDAQ: SBAC) yesterday reported results for the quarter ended September 30, 2022.

“We produced great results in the third quarter, exceeding consensus and our own estimates,” stated Jeffrey Stoops, President and CEO. “Our results evidence the high levels of wireless deployment across our markets, driven mostly by 5G domestically and 4G in our international markets. Wireless carrier activity was, and remains, robust across most of our markets. We believe activity will remain strong into 2023 and perhaps beyond, given the size and scope of our customers’ 5G deployment plans."

Highlights of the third quarter include:

• Net income of $99.8 million or $0.91 per share
• AFFO per share increased 15.1 percent over the prior year period on a constant currency basis
• Total revenue of $675.6 million, representing a 14.6 percent growth over the prior year period Continue Reading