SBA Communications (SBAC) Q3 Earnings: How Key Metrics Compare to Wall Street Estimates
For the quarter ended September 2023, SBA Communications (SBAC) reported revenue of $682.54 million, up 1% over the same period last year. EPS came in at $3.34, compared to $0.91 in the year-ago quarter.
The reported revenue represents a surprise of +0.67% over the Zacks Consensus Estimate of $678.01 million. With the consensus EPS estimate being $3.23, the EPS surprise was +3.41%.
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.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
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: 17,469 versus 17,807 estimated by three analysts on average.
Sites owned - International: 22,077 compared to the 21,841 average estimate based on three analysts.
Sites decommissioned - Total: -11 compared to the -27 average estimate based on two analysts.
Sites built - Total: 86 compared to the 116 average estimate based on two analysts.
Sites owned - Total: 39,546 versus 39,680 estimated by two analysts on average.
Sites acquired - Total: 45 versus the two-analyst average estimate of 165.
Revenues- Site Development: $45.10 million compared to the $50.10 million average estimate based on five analysts. The reported number represents a change of -48.9% year over year.
Revenues- Site Leasing: $637.44 million versus the five-analyst average estimate of $628.54 million. The reported number represents a year-over-year change of +8.5%.
Revenues- Domestic Site Leasing: $468.37 million versus $463.97 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +4.2% change.
Revenues- International Site Leasing: $169.07 million versus $165.21 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +22.8% change.
Net Earnings Per Share (Diluted): $0.80 versus $1.24 estimated by five analysts on average.
Segment operating profit- Site Leasing (Domestic+International): $519.16 million versus $512.25 million estimated by four analysts on average.
View all Key Company Metrics for SBA Communications here>>>
Shares of SBA Communications have returned +8.8% over the past month versus the Zacks S&P 500 composite's -1.1% 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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