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SBA Communications SBAC Q1 2025 earnings

Reported April 28, 2025 · After market close

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

Next report

Aug 3, 2026 (In 3 weeks)
Revenue estimate$705.7M
EPS estimate$1.84

Financials

Q1 2025

Income statement

See full
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

See full
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
See full
Market cap$23.68B+1.1%
Enterprise value$35.44B-0.2%
P/E29×-13.2×
P/S8.8×+0.1×

Profitability

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

Returns & leverage

See full
Current ratio0.7×+0.5×

Segments

By segment

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

Versus estimates

Revenue

Q1 2026$703.4MBeat by $7.2MQ4 2025$719.6MMiss by $6.2MQ3 2025$732.3MBeat by $6.5MQ2 2025$699.0MMiss by $2.0M
Q1 2025$664.2MBeat by $1.9M
Q4 2024$693.7MBeat by $11.4M

Diluted EPS

Q1 2026$1.74Miss by $0.20Q4 2025$3.47Miss by $0.42Q3 2025$3.32Beat by $0.28Q2 2025$2.09Miss by $1.03
Q1 2025$1.77Miss by $1.35
Q4 2024$1.61Miss by $0.47

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Questions, answered.

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 diluted 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 diluted EPS grew 24.6% from $1.42.
Where can I find SBA Communications's Q1 2025 SEC filings?
You can read the 10-Q periodic report (0001034054-25-000004) directly on SEC EDGAR. The filing index links above go to sec.gov.