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SBA Communications SBAC Q1 2025 earnings

Reported April 28, 2025 · After market close

Revenue$664.2MBeat by $1.9M
EPS$1.77Miss by $1.35
Revenue estimate$662.3M
EPS estimate$3.12

Next report

Nov 2, 2026 (in 2 months)
Revenue estimate$724.6M
EPS estimate$2.07

Financials

Q1 2025

Income statement

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Revenue$664.2M+1.0%
Gross profit$626.1M-1.4%
Operating income$334.9M+3.6%
Net income$220.7M+42.8%
EPS (diluted)$2.04+43.7%

Balance sheet

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Cash & equivalents$664.1M+151%
Total debt$12.4B+0.6%
Total equity-$5.0B+4.8%
Total assets$10.4B+4.5%

Cash flow

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Operating cash flow$301.2M+2.3%
CapEx$46.2M-20.2%
Free cash flow$255.0M+7.8%

Valuation & ratios

Valuation

as of 03/31/25
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Market cap$23.68B+1.1%
Enterprise value$35.44B-0.2%
P/E29×-13.2×
P/S8.8×+0.1×

Profitability

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Gross margin95%-0.6pp
Operating margin53.9%+15.9pp
Net margin30.4%+9.8pp
FCF margin41.9%-5.7pp

Returns & leverage

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Current ratio0.7×+0.5×

Segments

By segment

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Domestic Site Leasing Revenue$461.0M-0.1%
International Site Leasing Revenue$155.2M-6.9%
Site Development Construction$48.0M+62.4%

FAQ

When did SBA Communications report Q1 2025 earnings?
SBA Communications (SBAC) reported Q1 2025 earnings on April 28, 2025 after market close.
What were SBA Communications's Q1 2025 revenue and EPS?
SBA Communications reported revenue of $664.2M and eps of $1.77 for Q1 2025.
Did SBA Communications beat estimates in Q1 2025?
Revenue beat the consensus estimate of $662.3M by $1.9M. EPS missed the consensus estimate of $3.12 by $1.35.
How did SBA Communications's Q1 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 1.0% from $657.9M a year earlier and eps grew 24.6% from $1.42.
Where can I find SBA Communications's Q1 2025 SEC filings?
You can read the 8-K earnings release (0001193125-25-100556) and the 10-Q periodic report (0001034054-25-000004) directly on SEC EDGAR. The filing index links above go to sec.gov.