SBA Communications Corp. Files Q3 2024 10-Q

TL;DR

**SBAC Q3 10-Q FILED: Financials and operations update for investors.**

AI Summary

SBA Communications Corp. filed its 10-Q for the period ending September 30, 2024. The filing details financial performance and operational updates for the third quarter of 2024. Key financial data and disclosures relevant to investors are presented within this report.

Why It Matters

This filing provides investors with the latest financial performance data for SBA Communications Corp., crucial for understanding the company's current health and future prospects.

Risk Assessment

Risk Level: low — This is a standard quarterly financial filing (10-Q) and does not inherently present new risks.

Key Numbers

• Q3 2024 — Reporting Period (Covers the third quarter of 2024.)

Key Players & Entities

• SBA COMMUNICATIONS CORP (company) — Filer of the 10-Q
• 2024-09-30 (date) — End of the reporting period
• 2024-11-01 (date) — Filing date

FAQ

Key Financial Figures

• $0.01 — hich Registered Class A Common Stock, $0.01 par value per share SBAC The NASDAQ

Filing Documents

• sbac-20240930x10q.htm (10-Q) — 7972KB
• sbac-20240930xex31_1.htm (EX-31.1) — 15KB
• sbac-20240930xex31_2.htm (EX-31.2) — 14KB
• sbac-20240930xex32_1.htm (EX-32.1) — 8KB
• sbac-20240930xex32_2.htm (EX-32.2) — 8KB
• 0001034054-24-000012.txt ( ) — 23805KB
• sbac-20240930.xsd (EX-101.SCH) — 65KB
• sbac-20240930_cal.xml (EX-101.CAL) — 84KB
• sbac-20240930_def.xml (EX-101.DEF) — 247KB
• sbac-20240930_lab.xml (EX-101.LAB) — 517KB
• sbac-20240930_pre.xml (EX-101.PRE) — 491KB
• sbac-20240930x10q_htm.xml (XML) — 5913KB

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION Item 1.

Financial Statements

Financial Statements Consolidated Balance Sheets as of September 30, 2024 (unaudited) and December 31, 2023 1 Consolidated Statements of Operations (unaudited) for the three and nine months ended September 30, 2024 and 2023 2 Consolidated Statements of Comprehensive Income (unaudited) for the three and nine months ended September 30, 2024 and 2023 3 Consolidated Statement of Shareholders' Deficit (unaudited) for the three and nine months ended September 30, 2024 and 2023 4 Consolidated Statements of Cash Flows (unaudited) for the nine months ended September 30, 2024 and 2023 6 Condensed Notes to Consolidated Financial Statements (unaudited) 8 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 23 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 43 Item 4.

Controls and Procedures

Controls and Procedures 45

– OTHER INFORMATION

PART II – OTHER INFORMATION Item 5. Other Information 45 Item 6. Exhibits 46

SIGNATURES

SIGNATURES 47 Table of Contents

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION

: FINANCIAL STATEMENTS

ITEM 1: FINANCIAL STATEMENTS SBA COMMUNICATIONS CORPORATION AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (in thousands, except par values) September 30, December 31, 2024 2023 ASSETS (unaudited) Current assets: Cash and cash equivalents $ 186,339 $ 208,547 Restricted cash 61,019 38,129 Accounts receivable, net 111,018 182,746 Costs and estimated earnings in excess of billings on uncompleted contracts 24,742 16,252 Prepaid expenses and other current assets 67,149 38,593 Total current assets 450,267 484,267 Property and equipment, net 2,783,921 2,711,719 Intangible assets, net 2,492,360 2,455,597 Operating lease right-of-use assets, net 2,322,890 2,240,781 Acquired and other right-of-use assets, net 1,379,281 1,473,601 Other assets 772,944 812,476 Total assets $ 10,201,663 $ 10,178,441 LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS, AND SHAREHOLDERS' DEFICIT Current liabilities: Accounts payable $ 54,438 $ 42,202 Accrued expenses 89,312 92,622 Current maturities of long-term debt 23,000 643,145 Deferred revenue 183,978 235,668 Accrued interest 32,088 57,496 Current lease liabilities 270,922 273,464 Other current liabilities 14,105 18,662 Total current liabilities 667,843 1,363,259 Long-term liabilities: Long-term debt, net 12,296,479 11,681,170 Long-term lease liabilities 1,930,943 1,865,686 Other long-term liabilities 432,158 404,161 Total long-term liabilities 14,659,580 13,951,017 Redeemable noncontrolling interests 49,092 35,047 Shareholders' deficit: Preferred stock - par value $ 0.01 , 30,000 shares authorized, no shares issued or outstanding — — Common stock - Class A, par value $ 0.01 , 400,000 shares authorized, 107,506 shares and 108,050 shares issued and outstanding at September 30, 2024 and December 31, 2023, respectively 1,075 1,080 Additional paid-

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View this 10-Q filing on SEC EDGAR