SBA Communications (NASDAQ: SBAC) reported Q3 EPS of $0.14, $0.11 worse than the analyst estimate of $0.25. Revenue for the quarter came in at $467.22 million versus the consensus estimate of $459.21 million.

“We had a very good third quarter, and expect a strong finish to 2018,” commented Jeffrey A. Stoops, President and Chief Executive Officer. “Our third quarter financial results were ahead of expectations and reflect a combination of strong new domestic leasing business executed earlier in the year, excellent services results and solid expense controls, even after some unfavorable foreign currency movements in the quarter. Customer activity remains strong both domestically and internationally. In the third quarter, we executed new domestic leasing business at a rate which was well above the year ago period and the highest since 2014. That new business will certainly positively impact future financial results. Our domestic and international backlogs remain very healthy. We continued to allocate capital opportunistically to a mix of portfolio growth and stock repurchases, materially investing in both while staying within our target leverage range. We believe the combination of strong customer demand, operational excellence and disciplined yet opportunistic capital allocation will allow us to continue to drive shareholder value through growth in AFFO per share.”

GUIDANCE:

SBA Communications sees FY2018 revenue of $1.84-1.86 billion, versus the consensus of $1.84 billion.

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