SBA Communications FFO of $3.10 beats by $0.50, revenue of $675.58M beats by $24.16M

• SBA Communications press release (NASDAQ:SBAC): Q3 FFO of $3.10 beats by $0.50.
• Revenue of $675.58M (+14.6% Y/Y) beats by $24.16M.
• Adjusted EBITDA in the third quarter of 2022 was $446.8 million, a 9.8% increase over the prior year period.
• Adjusted EBITDA Margin in the third quarter of 2022 was 67.3% compared to 70.3% in the prior year period.
• Additionally, subsequent to the third quarter of 2022, the Company purchased or is under contract to purchase 34 communication sites for an aggregate consideration of $28.5 million in cash.
• The Company anticipates that these acquisitions will be consummated by the end of the first quarter of 2023.
• The Company’s Outlook assumes an average foreign currency exchange rate of 5.30 Brazilian Reais to 1.0 U.S. Dollar, 1.35 Canadian Dollars to 1.0 U.S. Dollar, 2,330 Tanzanian shillings to 1.0 U.S. Dollar, and 17.90 South African Rand to 1.0 U.S. Dollar throughout the last quarter of 2022.
• 2022 Outlook: Site leasing revenue $2,325 to $2,335M; Total revenues $2,616 to $2,636M; Adjusted EBITDA $1,763 to $1,773M AFFO per share $12.12 to $12.34.