SBA Communications (SBAC - Free Report) reported $675.02 million in revenue for the quarter ended December 2023, representing a year-over-year decline of 1.6%. EPS of $3.37 for the same period compares to $0.94 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $683.81 million, representing a surprise of -1.29%. The company delivered an EPS surprise of +1.51%, with the consensus EPS estimate being $3.32.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how SBA Communications performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Sites owned - Domestic: 17,487 versus the two-analyst average estimate of 17,480.
- Sites owned - International: 22,131 compared to the 22,376 average estimate based on two analysts.
- Sites owned - Total: 39,618 versus 39,741 estimated by two analysts on average.
- Sites built - Total: 138 versus 87 estimated by two analysts on average.
- Sites decommissioned - Total: -89 compared to the -27 average estimate based on two analysts.
- Sites acquired - Total: 23 versus 165 estimated by two analysts on average.
- Revenues- Site Development: $38.94 million versus $43.68 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a -49.1% change.
- Revenues- Site Leasing: $636.08 million versus $640.45 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +4.3% change.
- Revenues- Domestic Site Leasing: $466.60 million versus $468.57 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +3% change.
- Revenues- International Site Leasing: $169.49 million versus $169.24 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +8.2% change.
- Net Earnings Per Share (Diluted): $1.01 versus the five-analyst average estimate of $1.32.
- Segment operating profit- Site Leasing (Domestic + International): $516.81 million compared to the $524.23 million average estimate based on three analysts.
View all Key Company Metrics for SBA Communications here>>>Shares of SBA Communications have returned -6.6% over the past month versus the Zacks S&P 500 composite's +4.7% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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SBA Communications (SBAC - Free Report) reported $675.02 million in revenue for the quarter ended December 2023, representing a year-over-year decline of 1.6%. EPS of $3.37 for the same period compares to $0.94 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $683.81 million, representing a surprise of -1.29%. The company delivered an EPS surprise of +1.51%, with the consensus EPS estimate being $3.32.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how SBA Communications performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Sites owned - Domestic: 17,487 versus the two-analyst average estimate of 17,480.
- Sites owned - International: 22,131 compared to the 22,376 average estimate based on two analysts.
- Sites owned - Total: 39,618 versus 39,741 estimated by two analysts on average.
- Sites built - Total: 138 versus 87 estimated by two analysts on average.
- Sites decommissioned - Total: -89 compared to the -27 average estimate based on two analysts.
- Sites acquired - Total: 23 versus 165 estimated by two analysts on average.
- Revenues- Site Development: $38.94 million versus $43.68 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a -49.1% change.
- Revenues- Site Leasing: $636.08 million versus $640.45 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +4.3% change.
- Revenues- Domestic Site Leasing: $466.60 million versus $468.57 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +3% change.
- Revenues- International Site Leasing: $169.49 million versus $169.24 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +8.2% change.
- Net Earnings Per Share (Diluted): $1.01 versus the five-analyst average estimate of $1.32.
- Segment operating profit- Site Leasing (Domestic + International): $516.81 million compared to the $524.23 million average estimate based on three analysts.
View all Key Company Metrics for SBA Communications here>>>Shares of SBA Communications have returned -6.6% over the past month versus the Zacks S&P 500 composite's +4.7% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
4 Oil Stocks with Massive Upsides
Global demand for oil is through the roof... and oil producers are struggling to keep up. So even though oil prices are well off their recent highs, you can expect big profits from the companies that supply the world with "black gold."
Zacks Investment Research has just released an urgent special report to help you bank on this trend.
In Oil Market on Fire, you'll discover 4 unexpected oil and gas stocks positioned for big gains in the coming weeks and months. You don't want to miss these recommendations.
Download your free report now to see them.
Get the latest research report on SBAC - FREE