04:55 PM EDT, 04/29/2024 (MT Newswires) -- SBA Communications ( SBAC ) reported Q1 adjusted funds from operations late Monday of $3.29 per share, up from $3.13 a year earlier.

Analysts polled by Capital IQ forecast $3.29.

Revenue for the quarter ended March 31 was $657.9 million, down from $675.5 million a year earlier.

Analysts surveyed by Capital IQ projected $669.9 million.

The company said it now expects a full-year 2024 adjusted FFO of $13.09 to $13.46 per share. Analysts polled by Capital IQ expect $13.35.

Revenue for the year is now projected to be in the range of $2.66 billion to $2.7 billion. Analysts surveyed by Capital IQ expect $2.69 billion.

The company said its board kept the quarterly dividend at $0.98 per share, payable June 19 to shareholders of record on May 23.

Shares of the company were down 2% in after-hours trading.

Price: 197.85, Change: -4.04, Percent Change: -2.00