Business
SBA Communications Corporation Reports First Quarter 2026 Results; Updates Full Year 2026 Outlook; and Declares Quarterly Cash Dividend
BOCA RATON, Fla.--(BUSINESS WIRE)-- SBA Communications Corporation (Nasdaq: SBAC) ("SBA" or the "Company") today reported results for the quarter ended March
About this update from Sba Communications Corporation
[{"type":"text","content":" BOCA RATON, Fla.--(BUSINESS WIRE)--\nSBA Communications Corporation (Nasdaq: SBAC) (\"SBA\" or the \"Company\") today reported results for the quarter ended March 31, 2026.\n\n\nHighlights of the first quarter include:\n\n\n\nNet income attributable to SBA of $184.8 million or $1.74 per share\n\n\n\nIndustry-leading AFFO per share of $3.03\n\n\n\nIncreased full year 2026 outlook across all key metrics\n\n\n\nCompany-wide Tower Cash Flow margin of approximately 80%\n\n\n\nIn addition, the Company announced today that its Board of Directors has declared a quarterly cash dividend of $1.25 per share of the Company’s Class A Common Stock. The distribution is payable June 17, 2026 to the shareholders of record at the close of business on May 22, 2026.\n\n\n“We had a solid start to 2026, with positive first quarter financial and operating results,” commented Brendan Cavanagh, President and Chief Executive Officer. “Carrier activity remained steady globally, as our customers continued to focus on expanding and densifying their networks, as well as upgrading sites with new spectrum bands and technologies. In addition, our domestic leasing backlogs increased during the quarter. These favorable results and positive movement in foreign exchange rates have allowed us to increase our full year outlook for each of our key financial metrics from the levels we provided in late February. During the quarter, we also continued to invest in expanding our portfolio through new tower builds across our markets, with increasing production particularly under our Central America build to suit agreement with Millicom International. We anticipate seeing this production grow steadily throughout 2026. Our balance sheet also remains strong as we ended the quarter with net debt to Adjusted EBITDA of 6.6x, in the middle of our target range of 6.0x to 7.0x, notwithstanding the full removal of all EchoStar revenue from our reported results as of the beginning of the year. Our solid operating results and strong balance sheet have allowed us to continue growing our dividend at the highest pace in the industry. Our declared second quarter dividend still only represents approximately 41% of AFFO in our 2026 outlook, leaving us with significant capital available for additional investment into the business. Our company continues to perform well, and we are excited abou...