SBA Communications Lifts FY22 Outlook

(RTTNews) - While reporting its results for the first quarter on Monday, SBA Communications Corporation (SBAC) lifted its outlook for the full year 2022. The stock gained 3% in the extended trading session.

For the full year 2022, the company now expects AFFO of $11.72 to $12.09 per share and revenues of $2.49 billion and $2.53 billion last year.

Previously, the company expected AFFO of $11.48 to $11.85 per share on revenues of $2.43 billion to $2.47 billion.

Analysts polled by Thomson Reuters currently estimate revenues of $4.28 per share on revenues of $2.46 billion. Analysts' estimates typically exclude one-time items.

SBAC closed Monday's trading at $359.94, down $6.42 or 1.75%, on the Nasdaq. The stock, however, gained $10.65 or 2.96%, in the after-hours trading.