SBA Communications (NASDAQ: SBAC) reported Q2 EPS of ($0.50), versus $0.18 reported last year. Revenue for the quarter came in at $456.3 million versus the consensus estimate of $457.43 million.

Net loss for the second quarter of 2018 was $57.4 million, or $(0.50) per share, and included a $58.7 million loss, net of taxes, on the currency related remeasurement of U.S. dollar denominated intercompany loans with a Brazilian subsidiary, while net income for the second quarter of 2017 was $9.2 million, or $0.08 per share, and included a $20.4 million loss on the currency related remeasurement of a U.S. dollar denominated intercompany loan with a Brazilian subsidiary.

“We continued our strong operational performance in the second quarter,” commented Jeffrey A. Stoops, President and Chief Executive Officer. “Adjusting for currency, leasing revenue, tower cash flow and Adjusted EBITDA were all ahead of our expectations for the quarter, evidencing the underlying strength in our business. In the U.S., the four major wireless service providers are all active investing in their networks, and our leasing and services backlogs continue to grow. Demand in our international markets also remains solid, particularly in Brazil. Against this favorable demand environment, we continue to execute very well and continue to post the highest tower cash flow and adjusted EBITDA margins in our industry. We continued, and expect to continue, to allocate capital to a mix of portfolio growth and stock repurchases such as to maintain a target leverage rate of 7.0x to 7.5x net debt/adjusted EBITDA to maximize long-term growth in AFFO per share. We look forward to a busy and productive second half of 2018, which we expect to continue into 2019.”

GUIDANCE:

SBA Communications sees FY2018 revenue of $1.8-1.859 million, versus the consensus of $1.85 million.

For earnings history and earnings-related data on SBA Communications (SBAC) click here.