SBA Communications Corporation announced positive first-quarter 2025 results on April 28, 2025, with site leasing revenue of $616.2 million and a significant 62.4% increase in site development revenue to $48.0 million compared to Q1 2024. Net income rose to $189.0 million, or $1.77 per diluted share, from $154.5 million, or $1.42 per share, in the prior-year quarter. Domestic leasing activity and services volumes continued to grow, with increasing backlogs.
The company updated its full-year 2025 outlook, raising projections for all key financial metrics. Site leasing revenue guidance increased to a range of $2,536.0 million to $2,561.0 million, and AFFO per share guidance was raised by $0.14 to a range of $12.53 to $12.90. This upward revision reflects the solid Q1 performance, including the earlier-than-expected closing of 321 sites from the Millicom acquisition.
SBA's Board of Directors authorized a new $1.5 billion share repurchase plan on April 27, 2025, replacing the previous plan. This authorization provides significant flexibility to return capital to shareholders, following the repurchase of 583,000 shares for $122.9 million subsequent to the first quarter. The company also confirmed the sale of its Philippines assets on January 10, 2025, and Colombia assets on March 14, 2025, as part of its portfolio optimization strategy.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.