SBA Communications Corporation (SBAC)
NASDAQ:SBAC
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Earnings Data
Report Date
Aug 03, 2026After Close (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
1.84Last Year’s EPS
2.09Same Quarter Last Year
Moderate Buy
Based on 14 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call emphasized multiple operational and financial positives — upgraded guidance, strong ~80% tower cash flow margins, dividend growth (~13% YoY), healthy U.S. and international leasing additions, successful Millicom integration and prudent leverage management (6.6x within a 6–7x target). Key risks include elevated international churn (peaking in 2026), an ongoing EchoStar dispute with removed revenue, dependence on refinancing assumptions (including a $1.2B ABS refinance and a market-dependent inaugural investment-grade bond), and a temporary pause in buybacks while paying down revolver. On balance, the company presented more significant and actionable positives than negatives, with manageable near-term risks.Company Guidance
Upgraded Full-Year Outlook
Company increased full-year guidance for site leasing revenue, cash flow, adjusted EBITDA, AFFO and AFFO per share based on first-quarter outperformance, high straight-line revenue recognition and favorable foreign currency rates.
Strong Tower Cash Flow Margins
Company-wide tower cash flow margins of approximately 80% in Q1, demonstrating efficient operations and direct cost control.
Leasing Billings Growth
U.S. leasing activity added ~ $10 million of quarterly new lease and amendment billings year-over-year; international leasing added ~ $4 million year-over-year. Backlog in the U.S. increased moderately from Dec 31 to Mar 31, indicating steady leasing activity.
Dividend Increase and Payout Discipline
Declared and paid a Q1 cash dividend of $135.2 million ($1.25/share), a ~13% increase versus Q1 2025. The dividend represents an annualized payout of ~41% of the midpoint of full-year AFFO guidance, highlighting a shareholder-friendly yet conservative payout ratio.
Progress on Balance Sheet and Capital Structure
Paid off $750 million of ABS debt with the revolving credit facility in January; ended the quarter with ~ $13 billion of total debt and net leverage of 6.6x net debt to adjusted EBITDA, near historical lows and within the target range of 6–7x.
Millicom Integration and Central America Growth
Integration of Millicom assets progressing well with colocation demand exceeding initial lease-up projections. Built just over 60 towers in Central America in Q1 and bought land in Guatemala at ~7x multiple, positioning for returns expected to be above cost of capital.
Strategic Financing Objectives
Management remains committed to becoming an investment-grade issuer and anticipates an inaugural IG bond issuance in 2026 (market dependent). Outlook assumes refinancing a $1.2 billion November ABS maturity at ~5.25%.
New Commercial Opportunities — Edge Compute and New Builds
Early-stage deployments and trials of mobile edge compute (micro data centers at tower sites) are underway with potential for incremental revenue. Dialogue with carriers on U.S. new-build opportunities is increasingly constructive, suggesting future organic growth avenues.
SBAC Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
SBAC Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Apr 29, 2026 | $215.97 | $221.20 | +2.42% |
Feb 26, 2026 | $190.87 | $199.80 | +4.68% |
Nov 03, 2025 | $191.15 | $193.80 | +1.38% |
Aug 04, 2025 | $226.45 | $215.40 | -4.88% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does SBA Communications Corporation (SBAC) report earnings?
SBA Communications Corporation (SBAC) is schdueled to report earning on Aug 03, 2026, After Close (Confirmed).
What is SBA Communications Corporation (SBAC) earnings time?
SBA Communications Corporation (SBAC) earnings time is at Aug 03, 2026, After Close (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is SBAC EPS forecast?
SBAC EPS forecast for the fiscal quarter 2026 (Q2) is 1.84.