SBA Comms Q1 2024 AFFO $3.29 Misses $3.30 Estimate, Sales $657.862M Miss $669.969M Estimate
Portfolio Pulse from Benzinga Newsdesk
SBA Communications (SBAC) reported Q1 2024 earnings of $3.29 per share, missing the consensus estimate of $3.30 by 0.3%. Quarterly sales were $657.862M, missing the estimate of $669.969M by 1.81%, and representing a 2.61% decrease from the same period last year.
April 29, 2024 | 8:11 pm
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SBA Communications (SBAC) reported a slight miss in Q1 2024 earnings and sales, with AFFO per share at $3.29 against a $3.30 estimate and sales at $657.862M versus an expected $669.969M.
The slight miss in both earnings per share and sales compared to analyst estimates, along with a year-over-year decrease in sales, could lead to negative investor sentiment in the short term. This may result in downward pressure on SBAC's stock price as the market reacts to the earnings miss and sales decline.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100