SBA Communications Corporation (SBAC) Q2 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Welcome and thank you all for joining today's SBA second quarter 2026 results. Please note that today's call is being recorded and currently all attendees are in a listen-only mode. There will be opportunity for Q&A at the end of today's call, at which point we will make sure to give you instructions on how to ask a question. With that, I'd now like to formally begin today's call and turn it over to Louis Friend, Vice President of Finance and Capital Markets. Please go ahead. Good evening and thank you for joining us for SBA's second quarter 2026 earnings conference call. Here with me today are Brendan Cavanagh, our President and Chief Executive Officer, and Marc Montagner, our Chief Financial Officer. Some of the information we will discuss on this call is forward-looking, including but not limited to any guidance for 2026 and beyond. In today's press release and in our SEC filings, Thank you for joining us. With that, I will now turn it over to Marc to comment on the second quarter results and 2026 outlook. Thank you, Louis. We had another good quarter, and our results were in line with our expectations. Given the solid performance in the second quarter, we're modestly increasing our full-year outlook for site leasing revenue, FFO, and FFO per share as compared to our prior 2026 guidance. The primary drivers of these increases include higher straight-line revenues and improved net cash interest expenses. In the second quarter, FFO per share was $3.05, and we per cash dividend of $1.25 per share. We continue to operate efficiently, controlling direct costs, and achieving company-wide tower cash flow margins of just under 80%. In the U.S., we added approximately $9 million domestic new lease and amendment billings in the second quarter. The bulk of the activity conti...