SBA Communications Q4 Profit Rises

(RTTNews) - SBA Communications Corporation (SBAC) Monday reported fourth-quarter net income of $109.5 million or $1.01 per share, compared to $102.6 million or $0.94 per share last year.

AFFO in the fourth quarter was $365.7 million or $3.37 per share, compared to $340.7 million or $3.12 per share last year.

Revenues in the fourth quarter were $675.1 million compared to $686.1 million in the prior year period, a decrease of 1.6%.

Analysts polled by Thomson Reuters expected earnings of $1.37 per share and revenues of $682.17 million for the quarter.

Looking forward to full year 2024, the company expects AFF per share of $13.15 to $13.51 per share and total revenues of $2.67 billion to $2.71 billion.