WASHINGTON (dpa-AFX) - SBA Communications Corporation (SBAC), an independent owner and operator of wireless communications infrastructure, reported positive performance for the fourth quarter of the fiscal year 2024.
Consolidated site leasing revenue reached $646.3 million, up 1.6 percent year-over-year, while site development revenue surged 21.5 percent to $47.4 million. Net income climbed 63.3 percent to $178.8 million, with EPS rising to $1.61 from previous years' $109.5 million and an EPS of $1.01.
Adjusted EBITDA and AFFO also saw incremental increases to $489.3 million and $375.1 million respectively, compared to $480.7 million and $365.7 million the prior year.
Incremental gains were also seen in key operating metrics such as tower cash flow and AFFO. Looking ahead, the company provided its initial full-year 2025 outlook, based on the acquisition of communication sites under contract and the anticipated closing of the Millicom transaction by September 1, 2025. These results underscore SBA Communications' strong operational execution and set the stage for continued growth.
SBAC closed Monday's trading at $212.84 down 0.08 percent or $0.16 on the Nasdaq.
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