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SBA Communications (SBAC) Reports Q4 Earnings: What Key Metrics Have to Say
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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.
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) Reports Q4 Earnings: What Key Metrics Have to Say
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.