Hot Stock Buzz: SBA Communications Corporation (NASDAQ: SBAC)

Raymond Young

I am Raymond Young and I’m passionate about business and finance news with over 4 years in the industry starting as a writer working my way up into senior positions.

I am the driving force behind Import Tourism with a vision to broaden the company’s readership throughout 2016. I am an editor and reporter of “Technology” category.

Address: 3194 Flynn Street, Garfield Heights, OH 44125, USA
Phone: (+1) 440-829-5759
Email: raymondyoung@importtourism.com
Raymond Young

BOCA RATON, Fla., July 10, 2019 – Shares of SBA Communications Corporation (NASDAQ: SBAC) showed the bullish trend with a higher momentum of 0.57% to $234.75. The company traded total volume of 564.808K shares as contrast to its average volume of 612.24K shares. The company has a market value of $26.59B and about 113.25M shares outstanding.

SBA Communications Corp. (SBAC) reported total revenues of $493.30M in the first quarter of 2019, contrast to $458.30M in the year earlier period, a boost of 7.6%. Site leasing revenue in the quarter of $452.10M was comprised of domestic site leasing revenue of $362.80M and international site leasing revenue of $89.30M. Domestic cash site leasing revenue was $361.20M in the first quarter of 2019 contrast to $338.70M in the year earlier period, a boost of 6.7%. International cash site leasing revenue was $88.30M in the first quarter of 2019 contrast to $86.40M in the year earlier period, a boost of 2.2%, or 13.0% excluding the impact of changes in foreign currency exchange rates.

Site leasing operating profit was $359.50M, a boost of 6.4% over the year earlier period. Site leasing contributed 97.3% of the Company’s total operating profit in the first quarter of 2019. Domestic site leasing segment operating profit was $297.70M, a boost of 7.6% over the year earlier period. International site leasing segment operating profit was $61.70M, a boost of 1.2% over the year earlier period.

Tower Cash Flow for the first quarter of 2019 of $362.90M was comprised of Domestic Tower Cash Flow of $301.80M and International Tower Cash Flow of $61.10M. Domestic Tower Cash Flow for the quarter increased 7.8% over the prior year period and International Tower Cash Flow increased 3.4% over the prior year period. Tower Cash Flow Margin was 80.7% for the first quarter of 2019, as contrast to 79.8% for the year earlier period.

Adjusted EBITDA for the quarter was $345.60M, which includes the $2.30M Oi recovery, an 8.4% increase over the prior year period. Adjusted EBITDA Margin was 70.4% in the first quarter of 2019 contrast to 70.4% in the first quarter of 2018.

Net Cash Interest Expense was $96.90M in the first quarter of 2019 contrast to $87.60M in the first quarter of 2018, a boost of 10.6%.

Net income for the first quarter of 2019 was $26.00M, or $0.23 per share, and included a $2.10M loss, net of taxes, on the currency related remeasurement of U.S. dollar denominated intercompany loans with a Brazilian partner, while net income for the first quarter of 2018 was $31.50M, or $0.27 per share, and included a $1.60M gain on the currency related remeasurement of U.S. dollar denominated intercompany loans with a Brazilian partner.

AFFO for the quarter was $236.10M, which includes the $2.30M Oi recovery, an 8.1% increase over the prior year period. AFFO per share for the first quarter of 2019 was $2.07, an 11.9% increase over the prior year period.

Financing Activities and Liquidity:

SBA ended the first quarter of 2019 with $9.80B of total debt, $7.20B of total secured debt, $142.00M of cash and cash equivalents, short-term restricted cash, and short-term investments, and $9.70B of Net Debt. SBA’s Net Debt and Net Secured Debt to Annualized Adjusted EBITDA Leverage Ratios were 7.0x and 5.1x, respectively.

As of the date of this press release, the Company had $50.00M outstanding under the $1.250B Revolving Credit Facility.

The Company offered net profit margin of 2.20% while its gross profit margin was 74.90%. ROE was recorded as -1.30% while beta factor was 0.68. The stock, as of recent close, has shown the weekly upbeat performance of 4.34% which was maintained at 45.01% in this year.

Raymond Young

Raymond Young

I am Raymond Young and I’m passionate about business and finance news with over 4 years in the industry starting as a writer working my way up into senior positions. I am the driving force behind Import Tourism with a vision to broaden the company’s readership throughout 2016. I am an editor and reporter of “Technology” category. Address: 3194 Flynn Street, Garfield Heights, OH 44125, USA Phone: (+1) 440-829-5759 Email: raymondyoung@importtourism.com