--- title: "SBA Communications | 10-Q: FY2026 Q1 Revenue: USD 703.44 M" type: "News" locale: "en" url: "https://longbridge.com/en/news/285252346.md" datetime: "2026-05-05T19:17:36.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/285252346.md) - [en](https://longbridge.com/en/news/285252346.md) - [zh-HK](https://longbridge.com/zh-HK/news/285252346.md) --- # SBA Communications | 10-Q: FY2026 Q1 Revenue: USD 703.44 M Revenue: As of FY2026 Q1, the actual value is USD 703.44 M. EPS: As of FY2026 Q1, the actual value is USD 1.74, missing the estimate of USD 1.7754. EBIT: As of FY2026 Q1, the actual value is USD 466.17 M. ### Segment Revenue #### Total Revenues Total revenues for SBA Communications Corporation were $703,438 thousand for the three months ended March 31, 2026, an increase from $664,248 thousand for the same period in 2025, representing a 4.1% increase on a constant currency basis. #### Domestic Site Leasing Revenue Domestic site leasing revenues decreased to $450,301 thousand for the three months ended March 31, 2026, from $460,994 thousand in the prior year, reflecting a -2.3% change on a constant currency basis. #### International Site Leasing Revenue International site leasing revenues increased to $205,848 thousand for the three months ended March 31, 2026, from $155,215 thousand in the prior year. On a constant currency basis, international site leasing revenues increased $38,431 thousand, or 24.8%. Site leasing revenue in Brazil was $88.9 million for the three months ended March 31, 2026, representing 13.5% of total site leasing revenue for the period. #### Site Development Revenue Site development revenues were $47,289 thousand for the three months ended March 31, 2026, compared to $48,039 thousand in the prior year, a decrease of -1.6% on a constant currency basis. ### Operational Metrics #### Operating Profit - **Domestic Site Leasing Operating Profit**: Decreased to $379,680 thousand for the three months ended March 31, 2026, from $392,722 thousand in the prior year, a -3.3% change on a constant currency basis. - **International Site Leasing Operating Profit**: Increased to $144,557 thousand for the three months ended March 31, 2026, from $108,009 thousand in the prior year. On a constant currency basis, it increased $28,334 thousand, or 26.2%. - **Site Development Operating Profit**: Decreased to $7,865 thousand for the three months ended March 31, 2026, from $9,851 thousand in the prior year, a -20.2% change on a constant currency basis. #### Cost of Revenues Total cost of revenues was $171,336 thousand for the three months ended March 31, 2026, compared to $153,666 thousand in the prior year, an 8.9% increase on a constant currency basis. **Domestic Site Leasing Cost of Revenues**: $70,621 thousand for the three months ended March 31, 2026, up from $68,272 thousand in the prior year, a 3.4% increase on a constant currency basis. **International Site Leasing Cost of Revenues**: $61,291 thousand for the three months ended March 31, 2026, up from $47,206 thousand in the prior year, a 21.4% increase on a constant currency basis. **Site Development Cost of Revenues**: $39,424 thousand for the three months ended March 31, 2026, up from $38,188 thousand in the prior year, a 3.2% increase on a constant currency basis. #### Selling, General, and Administrative Expenses Total selling, general, and administrative expenses increased to $70,548 thousand for the three months ended March 31, 2026, from $66,219 thousand in the prior year. On a constant currency basis, these expenses increased $3,394 thousand, or 5.1%. #### Asset Impairment and Decommission Costs Total asset impairment and decommission costs decreased to $29,300 thousand for the three months ended March 31, 2026, from $37,026 thousand in the prior year. On a constant currency basis, these costs decreased -$7,942 thousand, or -21.4%. **Domestic Site Leasing**: Increased $11,807 thousand, or 77.9%, to $26,971 thousand. **International Site Leasing**: Decreased $19,200 thousand to $2,131 thousand. On a constant currency basis, these costs decreased -$19,403 thousand, or -91.0%. #### Depreciation, Accretion, and Amortization Expense Total depreciation, accretion, and amortization expense increased to $81,316 thousand for the three months ended March 31, 2026, from $65,048 thousand in the prior year. On a constant currency basis, this expense increased $14,109 thousand, or 21.7%. #### Operating Income Total operating income was $342,848 thousand for the three months ended March 31, 2026, compared to $334,910 thousand in the prior year, a 0.9% increase on a constant currency basis. #### Net Income Attributable to SBA Communications Corporation Net income attributable to SBA Communications Corporation was $184,830 thousand for the three months ended March 31, 2026, down from $220,732 thousand in the prior year. On a constant currency basis, net income decreased -$12,312 thousand, or -6.7%. ### Cash Flow #### Net Cash Provided by Operating Activities Net cash provided by operating activities was $255,085 thousand for the three months ended March 31, 2026, a decrease from $301,175 thousand for the same period in 2025. ### Unique Metrics #### Adjusted EBITDA Adjusted EBITDA increased to $475,388 thousand for the three months ended March 31, 2026, from $457,291 thousand in the prior year. On a constant currency basis, Adjusted EBITDA increased $10,291 thousand, or 2.3%. #### Cash Capital Expenditures Total cash capital expenditures for the three months ended March 31, 2026, were $192,231 thousand, up from $110,440 thousand in the prior year. This includes $143,496 thousand for acquisitions and $48,397 thousand for capital expenditures. #### Towers Owned As of March 31, 2026, SBA Communications Corporation owned 46,358 towers, with approximately 30% in Brazil and 10% in Guatemala. ### Future Outlook and Strategy #### Core Business Focus SBA Communications Corporation anticipates core leasing revenue to increase over 2025 levels on a currency-neutral basis for the remainder of 2026, driven by wireless carrier deployments and the full-year impact of acquired and newly built towers. The company’s strategy involves growing cash flows by adding tenants to towers at minimal incremental costs and executing monetary amendments as wireless service providers upgrade equipment. #### Non-Core Business and Churn Churn is expected to be elevated through 2026, with domestic churn estimated between $132.0 million and $136.0 million in cash site leasing revenue due to Sprint and EchoStar, and international churn between $36.0 million and $40.0 million due to Oi wireline. #### Capital Allocation Strategy The capital allocation strategy prioritizes investment in quality assets through acquisitions and new tower construction, stock repurchases, and returning cash to shareholders via dividends, with debt repayments considered an accretive use of excess capital in a high-interest-rate environment. #### Future Capital Expenditures For 2026, non-discretionary cash capital expenditures for tower maintenance and general corporate expenses are projected to be $67.0 million to $77.0 million, and discretionary cash capital expenditures are forecasted between $430.0 million and $450.0 million, to be funded from cash on hand, operating cash flow, and borrowings. #### Dividends SBA Communications Corporation declared a cash dividend of $1.25 per share payable on June 17, 2026, to shareholders of record as of May 22, 2026, and expects to grow its cash dividend in the future. ### Related Stocks - [SBAC.US](https://longbridge.com/en/quote/SBAC.US.md) ## Related News & Research - [Are Wall Street Analysts Predicting SBA Communications Stock Will Climb or Sink?](https://longbridge.com/en/news/287217672.md) - [Is It Time To Revisit SBA Communications (SBAC) After Recent Share Price Weakness?](https://longbridge.com/en/news/286395389.md) - [08:00 ETFoundry DST Introduces a New Category in Communications Intelligence: Anticipatory Sentiment, Mapped at the Sub-State Level](https://longbridge.com/en/news/286908839.md) - [Ceragon Q1 revenue beats estimates on India demand](https://longbridge.com/en/news/286900985.md) - [Entravision Communications Insider Sold Shares Worth $8,002,429, According to a Recent SEC Filing](https://longbridge.com/en/news/287026390.md)