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SBA Communications posts steady Q2, boosts 2017 guidance

Jul. 31, 2017 5:00 PM ETSBA Communications Corporation (SBAC) StockBy: Jason Aycock, SA News Editor
  • SBA Communications (NASDAQ:SBAC) posted "another steady" quarter in its Q2 earnings report, though shares are off 1.5% postmarket at the moment.
  • Site leasing revenue grew 5.6%, 4.5% excluding foreign exchange and OI reserve, and tower cash flow was up 7% (6.1% adjusted).
  • EBITDA, meanwhile, rose 14.2% tailwinds from forex and the OI reserve to $298.8M.
  • It's boosting guidance for 2017: It sees site leasing revenue of $1.608B-$1623B, and site development revenues of $90M-$100M for total revenue of $1.698B-$1.723B (vs. $1.715B consensus). It's guiding to tower cash flow of $1.266B-$1.281B.
  • Meanwhile it expected EBITDA of $1.189B-$1.204B (vs. consensus $1.193B), and AFFO/share of $6.75-$7.04 (vs. $6.93 expected).
  • Conference call at 5 p.m. ET.
  • Press Release

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