- 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).
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Conference call at 5 p.m. ET.
- Press Release