SBA Communications Corporation (NASDAQ: SBAC) will release its third quarter results today after market close.The release will be followed by a conference on the report’s findings. Market analysts are projecting to the upside of what may be in store.
Inside Towers Business Editor John Celentano said he will be looking for several points on the call:
- the progress it made in the quarter to expand its domestic and international tower portfolio, either through new builds or acquisitions
- the impact of COVID-19 through Q3 on site construction activity and the economies (delayed payments, foreign exchange rates) of the countries in which the company operates outside of the U.S.
- innovations or technologies that the company is considering to create new revenue-producing services and capabilities for its carrier tenants, such as edge computing, renewable energy, remote monitoring
“We believe SBAC has the most favorable set-up,” said Eric Luebchow, Senior Analyst at Well Fargo Securities. “First, SBAC has the highest percentage of revenue relative to its peers tied to TMUS, where leasing activity should ramp through the end of 2020 and into early 2021,” he said. “SBAC also has an amended agreement with TMUS in place since the Sprint merger closed, which (a) has enabled SBAC to already engage in TMUS leasing activity, and (b) has effectively delayed any material Sprint churn for ~3 years.” Luebchow said SBAC has had more modest contributions from VZ in recent years as they focused on small cell densification.
The call may be accessed as follows:
- When: Monday, November 2, 2020, at 5:00 PM (EDT)
- Dial-in Number: (844) 867-6169
- Access Code: 6462990
- Conference Name: SBA Third Quarter Results
- Replay Available: (866) 207-1041 – Access Code: 9230723 Scheduled to begin on 11/2/20 at 11:00 PM and end on 11/16/20 at 12:00 AM EST
- Internet Access: www.sbasite.com
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