SBAC Stock – Latest News Update

SBA Communications Corporation (NASDAQ: SBAC) has announced the retirement of Jason Silberstein, Executive Vice President, Site Leasing, effective August 1, 2024. Donald Day, who has been with SBA for 13 years, will succeed Mr. Silberstein, while Nichole Thomas will transition into the role previously held by Mr. Day. Both appointments will become effective on August 1, 2024.

Brendan Cavanagh, President and Chief Executive Officer of SBA Communications, expressed gratitude for Silberstein's 30-year career with the company, stating, "Jason's leadership and industry expertise were critical in growing SBA into the organization we are today."

Cavanagh also commented on the new appointments, congratulating Donald and Nichole and highlighting their respected positions in the industry and proven track records.

Mr. Day, who has served as Senior Vice President, Services since May 2018, oversees all of SBA's services operations in the United States. Prior to joining SBA, he held positions at General Dynamics and served in the United States Army.

Ms. Thomas, who joined SBA in June 2023, currently serves as Vice President, Site Development Services, leading the company's domestic new tower development and delivery of site development services for major customers. She has over 25 years of experience in the telecommunications industry and has held executive positions at companies such as Dish, Ericsson, SAC Wireless, and Sprint.

SBA Communications Corporation is a leading independent owner and operator of wireless communications infrastructure, with a portfolio of more than 39,000 communications sites in 15 markets throughout the Americas, Africa, and Asia. The organization is part of the S&P 500 and is one of the top real estate investment trusts (REITs) by market capitalization.

Following the announcement, the company's shares have moved -2.7%, and are now trading at a price of $224.71.

The company's full 8-K submission is available here.

2018 2019 2020 2021 2022 2023
Revenue (MM) $1,866 $2,015 $2,083 $2,309 $2,633 $2,723
Revenue Growth n/a 7.98% 3.4% 10.83% 14.06% 3.39%
Operating Margins 28% 28% 30% 34% 35% 35%
Net Margins 3% 7% 1% 10% 18% 18%
Net Income (MM) $47 $147 $24 $238 $461 $496
Net Interest Expense (MM) $377 $387 $352 $360 $379 $427
Depreciation & Amort. (MM) $269 $282 $287 $272 $274 $276
Earnings Per Share $0.41 $1.28 $0.21 $2.14 $4.22 $4.54
EPS Growth n/a 212.2% -83.59% 919.05% 97.2% 7.58%
Diluted Shares (MM) 117 115 113 111 109 109
Free Cash Flow (MM) $701 $816 $997 $1,056 $1,071 $1,160
Capital Expenditures (MM) $150 $154 $129 $134 $214 $240
Current Ratio 0.31 0.32 0.77 1.0 0.69 0.69
Total Debt (MM) $10,880 $10,857 $11,120 $12,327 $12,892 $12,515
Net Debt / EBITDA 13.2 12.42 11.74 11.34 10.63 10.07

SBA Communications has rapidly growing revenues and increasing reinvestment in the business and strong operating margins with a stable trend. Additionally, the company's financial statements display exceptional EPS growth and generally positive cash flows. However, the firm suffers from insufficient assets to cover its current liabilities and a highly leveraged balance sheet.

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