SBA Communications (NASDAQ:SBAC) Posts Quarterly Earnings Results, Beats Estimates By $0.22 EPS

SBA Communications (NASDAQ:SBAC) released its quarterly earnings data on Thursday. The technology company reported $3.47 earnings per share for the quarter, beating analysts’ consensus estimates of $3.25 by $0.22, Zacks reports. The business had revenue of $719.58 million during the quarter, compared to analyst estimates of $725.80 million. SBA Communications had a negative return on equity of 16.60% and a net margin of 29.69%.The company’s revenue was up 3.7% on a year-over-year basis. During the same quarter last year, the business posted $3.47 EPS.

Here are the key takeaways from SBA Communications’ conference call:

• Q4 FFO was $3.19 per share and management raised the quarterly cash dividend to $1.25 (payable March 27), a ~13% year-over-year increase and ~41% of midpoint 2026 FFO guidance.
• SBA repurchased $213 million of stock in Q4 (1.1M shares) and $500 million in 2025 total (2.5M shares), with $1.1 billion remaining on its buyback authorization.
• Bad-debt expense exceeded forecasts due to EchoStar/DISH; management has removed EchoStar recurring revenue from guidance, terminated the contract and has filed a lawsuit to recover amounts.
• 2026 outlook assumes U.S. new leasing roughly in line with 2025 (approximately $35M incremental), Sprint-related churn of $55–56M in 2026 (anticipated to fall < $20M in 2027+), and international new leases of $19–21M with churn of $36–40M that includes a one-time $14M Oi wireline impact.
• Balance-sheet moves include paying off $750M of ABS with the revolver, plans to use free cash flow to pay down the revolver, an assumed refinancing of a $1.2B ABS in Nov 2026 at ~5.25%, and intent to issue an inaugural investment-grade bond.

SBA Communications Stock Performance

Shares of NASDAQ:SBAC traded up $3.56 during trading on Friday, reaching $195.73. The stock had a trading volume of 418,958 shares, compared to its average volume of 868,168. The business has a fifty day moving average price of $190.44 and a 200-day moving average price of $195.40. SBA Communications has a 1-year low of $177.49 and a 1-year high of $245.16. The stock has a market cap of $20.85 billion, a PE ratio of 25.48, a PEG ratio of 1.87 and a beta of 0.87.

SBA Communications Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Friday, March 13th will be paid a $1.25 dividend. This is a boost from SBA Communications’s previous quarterly dividend of $1.11. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend is Friday, March 13th. SBA Communications’s dividend payout ratio is presently 57.89%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on SBAC shares. TD Cowen reissued a “buy” rating on shares of SBA Communications in a report on Tuesday, November 4th. BMO Capital Markets lowered their target price on shares of SBA Communications from $215.00 to $210.00 and set a “market perform” rating on the stock in a research note on Tuesday, November 4th. Scotiabank reduced their price target on SBA Communications from $252.00 to $233.00 and set a “sector perform” rating for the company in a report on Wednesday, January 14th. JPMorgan Chase & Co. lowered their price target on SBA Communications from $245.00 to $240.00 and set a “neutral” rating on the stock in a research report on Monday, January 12th. Finally, Williams Trading set a $237.00 price objective on SBA Communications in a report on Tuesday, November 4th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $235.18.

Institutional Investors Weigh In On SBA Communications

A number of large investors have recently modified their holdings of SBAC. Norinchukin Bank The raised its position in shares of SBA Communications by 1.1% in the third quarter. Norinchukin Bank The now owns 6,037 shares of the technology company’s stock valued at $1,167,000 after buying an additional 68 shares during the last quarter. Quarry LP raised its holdings in SBA Communications by 20.3% in the 4th quarter. Quarry LP now owns 475 shares of the technology company’s stock valued at $92,000 after acquiring an additional 80 shares during the last quarter. Geneos Wealth Management Inc. lifted its stake in SBA Communications by 105.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 164 shares of the technology company’s stock worth $36,000 after purchasing an additional 84 shares in the last quarter. Brown Brothers Harriman & Co. boosted its holdings in shares of SBA Communications by 4.3% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 2,324 shares of the technology company’s stock worth $449,000 after purchasing an additional 95 shares during the last quarter. Finally, Beacon Pointe Advisors LLC grew its position in shares of SBA Communications by 8.7% in the fourth quarter. Beacon Pointe Advisors LLC now owns 1,692 shares of the technology company’s stock valued at $327,000 after purchasing an additional 136 shares in the last quarter. Hedge funds and other institutional investors own 97.35% of the company’s stock.

Key Stories Impacting SBA Communications

Here are the key news stories impacting SBA Communications this week:

• Positive Sentiment: SBA declared a larger quarterly dividend of $1.25 (12.6% increase vs prior quarter), implying a roughly 2.6% yield — a shareholder-friendly move that supports income-oriented investor demand.
• Positive Sentiment: The company reported GAAP EPS of $3.47, topping consensus of $3.25, which likely helped lift the stock despite other weaknesses. Earnings Highlights
• Positive Sentiment: Management signaled about $35M of new U.S. leasing revenue for 2026 and plans to expand its Central America footprint — organic revenue growth drivers investors typically view favorably. Expansion & New Leasing Revenue
• Neutral Sentiment: The company updated FY2026 guidance with revenue in a roughly $2.8B–$2.9B range (consistent with consensus), though reported EPS guidance text was unclear in the release — investors will watch the full guidance details on margin/FFO.
• Neutral Sentiment: Market write-ups and the full earnings call transcript provide context on operating trends and capital allocation; these help shape near-term investor reaction but add no new headline surprise beyond the points above. Call Transcript
• Negative Sentiment: Revenue missed estimates: Q4 sales were $719.6M vs. ~$725.8M consensus, and FFO/operational metrics missed some analyst expectations — FFO reported at $3.19 vs Zacks’ $3.25 estimate. Revenue Miss
• Negative Sentiment: Domestic site-leasing revenue showed declines, and year-over-year FFO is lower than last year’s level — risks that could pressure valuation if the recovery in leasing revenue slows. FFO/Revenue Miss

About SBA Communications

SBA Communications Corporation (NASDAQ: SBAC) is a real estate investment trust that owns, operates and develops wireless communications infrastructure. Its core business is the leasing of space on communications towers, rooftop sites and other wireless structures to mobile network operators, broadband providers and other wireless service customers. The company also provides site development, construction and ongoing site management services to support the deployment and operation of wireless networks.

In addition to traditional macro towers, SBA offers a range of infrastructure solutions designed for dense urban and suburban markets, including small cells, distributed antenna systems (DAS) and fiber backhaul and transport services.