SBA Q3 FY2026: revenue falls 2.5%, EPS $2.19, AFFO guidance raised
SBA Communications delivered a mixed FY2026 Q3: total revenue fell 2.5% to $713.9 million and EPS slipped to $2.19, yet the company raised full-year AFFO guidance and bought back $300.0 million of stock. Read the quarter through the split: site leasing is the profit engine, while site development is small and volatile; leverage and domestic churn are the key swing factors.
1 · Expected vs. Actual
Free preview belowDiluted EPS was $2.19, down from $2.20 a year earlier but $0.03 above the $2.1599 consensus estimate. Net income attributable to SBA was $231.3 million, down 2.3% from $236.8 million. The quarter absorbed a $20.1 million loss on debt extinguishment, partly offset by a lower tax provision of $22.2 million versus $48.7 million.
Total revenue was $713.9 million, down 2.5% from $732.3 million a year earlier. Site leasing rose 1.4% to $665.4 million, while site development fell 36.0% to $48.5 million. The core leasing business is stable; the decline is concentrated in the smaller services segment.
Full-year 2026 revenue guidance is $2.83 billion to $2.86 billion, midpoint $2.85 billion, $18.0 million below the August outlook. AFFO guidance was raised to $1.28 billion to $1.31 billion, or $12.15 to $12.37 per share, with the per-share midpoint up $0.08. The revenue cut is mostly the Chile/Ecuador sale and weaker site development, while AFFO benefits from lower interest and capex.
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Figures on this page come from the company's original SEC filings. The analysis is generated automatically and checked against validation rules, but may still contain errors or omissions. Not investment advice. · Generated 2026-11-05
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