SBA Communications: Q3 Earnings Snapshot

SBA Communications (SBAC) reported Q3 2026 earnings, highlighting growth opportunities from upcoming spectrum auctions, including AT&T's 600 MHz and the upper C-band. The company expects these auctions to drive demand for new equipment on their towers. Additionally, SBA is expanding into satellite and edge computing markets, leveraging its tower infrastructure for AI workloads. Internationally, SBA sold 1,800 sites in South America, exiting three markets.

SBA Communications (SBAC) reported Q3 results meeting expectations, with Tower Cash Flow margins at 80% and Adjusted EBITDA margin at 69%. AFFO per share was $3.19, and the company paid a $1.25 quarterly dividend. Domestic and international lease billings were $8M and $5M, respectively. The company raised its 2026 AFFO guidance by $2M and AFFO per share by $0.08. SBA also announced plans to sell 1,800 sites in South America and repurchased 1.7M shares for $300M.

SBA COMMUNICATIONS CORP (SBAC) filed an SEC Form 8-K — Results of Operations and Financial Condition. Exhibit 99.1 FOR IMMEDIATE RELEASE SBA Communications Corporation Reports Third Quarter 2026 Results; Updates Full Year 2026 Outlook; and Declares Quarterly Cash Dividend Boca Raton, Florida, November 2, 2026 (BUSINESS NEWSWIRE) -- SBA Communications Corporation (Nasdaq: SBAC) (“

SBA Communications (SBAC) reported Q3 EPS of $2.19, beating estimates by $0.10, but revenue of $713.92M missed expectations. FY 2026 revenue guidance is $2.83M-$2.85M, below consensus. Stock is up 1.24% in 3 months, down 4.47% in 12 months. Analysts revised EPS 8 times positively and 1 negatively in the last 90 days.

Tower operators like Crown Castle, American Tower, and SBA Communications rose, while U.S. carriers AT&T, T-Mobile, and Verizon fell after Bloomberg reported SpaceX is in talks to access 80,000 cell sites. No deals were confirmed. SpaceX is also pursuing spectrum for Starlink Mobile. AT&T closed at $20.93, T-Mobile at $146.54, Verizon at $44.66, Crown Castle at $85.97, American Tower at $188.97, and SBA Communications at $184.75.

Scotiabank upgraded AST SpaceMobile (ASTS) to Outperform with a $55.70 price target. Roth Capital noted SpaceX's plan to lease 80,000 cell sites could benefit ASTS, Ericsson (ERIC), Nokia (NOK), and others. Citi sees upside for tower operators Crown Castle (CCI), SBA, and American Tower (AMT), but downside for major U.S. carriers.