SBA Communications (SBAC) Reports Q2 Earnings: What Key Metrics Have to Say
SBA Communications (SBAC) reported $678.5 million in revenue for the quarter ended June 2023, representing a year-over-year increase of 4.1%. EPS of $3.24 for the same period compares to $0.64 a year ago.
The reported revenue represents a surprise of +0.40% over the Zacks Consensus Estimate of $675.8 million. With the consensus EPS estimate being $3.14, the EPS surprise was +3.18%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
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 - International: 22000 compared to the 21522 average estimate based on two analysts.
Sites owned - Domestic: 17426 compared to the 17978 average estimate based on two analysts.
Revenues- Site Development: $52.36 million versus the five-analyst average estimate of $57.57 million. The reported number represents a year-over-year change of -27.1%.
Revenues- Site Leasing: $626.14 million compared to the $628.10 million average estimate based on five analysts. The reported number represents a change of +7.9% year over year.
Revenues- Domestic Site Leasing: $456.75 million versus $458.57 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +3.3% change.
Revenues- International Site Leasing: $169.39 million compared to the $171.68 million average estimate based on four analysts. The reported number represents a change of +22.6% year over year.
Segment operating profit- Site Development: $13.12 million versus $13.58 million estimated by three analysts on average.
Segment operating profit- Site Leasing (Domestic+International): $511.13 million compared to the $499.36 million average estimate based on three analysts.
View all Key Company Metrics for SBA Communications here>>>
Shares of SBA Communications have returned -5.6% 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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