SBA Communications Corp. Q2 AFFO Increases

(RTTNews) - SBA Communications Corp. (SBAC), Monday announced an increase in its adjusted funds from operations for second quarter to $354.3 million or $3.29 per share compared to last year's $352.7 million or $3.24 per share.

Earnings declined to $162.83 million or $1.51 per share from $203.65 million or $1.87 per share in previous year.

Analysts, on average, polled by Thomson Reuters expected earnings of $2.07 per share for the period.

Revenue decreased 2.7 percent to $660.5 million compared to $678.5 million in the year-ago quarter.

Looking ahead, the company expects AFFO in the range of $1.410 billion to $1.450 billion or $13.06 a share to $13.43 a share for the fiscal year 2024.

Also, SBA anticipates revenue of $2.642 billion to $2.672 billion for the full year 2024.