Earnings Releases·Nov 2, 2026, 4:10 PM ET

SBA Communications Corporation — Third Quarter 2026 Earnings Summary

Net income declined 2.3% year-over-year to $231.3 million ($2.19/share), while consolidated site leasing revenue rose 1.4% to $665.4 million; Adjusted EBITDA fell 1.1% to $488.1 million and AFFO decreased 5.0% to $337.3 million.
Full-year 2026 guidance was issued for total revenues ($2,833.0–$2,858.0 million), Adjusted EBITDA ($1,918.0–$1,928.0 million), and AFFO ($1,284.0–$1,308.0 million), with outlooks adjusted downward by approximately $10.0 million for site leasing revenue due to the sale of towers in Chile and Ecuador.
Strategic capital allocation included the repurchase of 1.7 million shares for $300.0 million, the declaration of a $1.25 quarterly dividend, and the issuance of $3.5 billion in unsecured senior notes to repay existing debt and fund general corporate purposes.
The company completed its exit from Chile and Ecuador and entered an agreement to sell all towers in Peru, while simultaneously acquiring 7 sites for $10.8 million and building 213 new towers during the quarter.
Management highlighted strong demand driven by network upgrades and 6G development, noting a net debt leverage ratio of 6.4x and a refined capital structure featuring a new $2.5 billion revolving credit facility and a $2.5 billion commercial paper program.