Nucor earnings beat by $0.08, revenue fell short of estimates
NEW YORK - SBA Communications Corp (NASDAQ:SBAC) reported first quarter earnings that fell short of analyst expectations on Monday, sending shares down 0.5% in after-hours trading.
The wireless tower operator posted adjusted earnings per share of $1.77, missing the consensus estimate of $2.11. Revenue came in slightly ahead at $664.25 million, compared to expectations of $661.68 million.
SBA (LON:SBA)’s site leasing revenue declined 1.9% year-over-year to $616.2 million, while site development revenue jumped 62.4% to $48 million.
"We had a positive start to 2025, producing favorable financial and operating results," said CEO Brendan Cavanagh. He noted that U.S. carrier activity levels continued to grow in the quarter.
The company raised its full year 2025 outlook, now expecting site leasing revenue between $2.54 billion and $2.56 billion, up from its prior range of $2.53 billion to $2.55 billion. Adjusted EBITDA guidance was also increased to a range of $1.89 billion to $1.91 billion.
SBA repurchased 583,000 shares for $122.9 million after the quarter ended. Its board also approved a new $1.5 billion share repurchase authorization.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.