SBA earnings date and guidance
MyStockButler's October 2026 analysis: SBA will release third-quarter results after market close on November 2, 2026. Watch whether weaker second-half contributions reflect timing or weaker carrier demand.
What has SBA guided for 2026?
Guidance in force on August 3, 2026, puts 2026 AFFO per share attributable to SBA at $11.91–$12.36. The forecast assigns 30% probability to the bear case. The base case carries 50%, and the bull case 20%.
| Period guided | Low | High | Date given | |
|---|---|---|---|---|
| Site leasing revenue | Year to Dec 2026 | 2,651.0 | 2,676.0 | 2026-08-03 |
| Total revenues | Year to Dec 2026 | 2,841.0 | 2,886.0 | 2026-08-03 |
| Adjusted EBITDA | Year to Dec 2026 | 1,920.0 | 1,940.0 | 2026-08-03 |
| AFFO per share | Year to Dec 2026 | 11.95 | 12.40 | 2026-08-03 |
What this means. Some costs have a higher low than high because the low and high cases refer to profit, so lower profit can mean higher costs.
Did SBA keep its past promises?
Management has usually forecast conservatively. Across five years and three measures, 14 of 15 results finished within or above the original ranges, including 12 above the top. But it also lowered all three midpoints during 2024 and reduced two midpoints in November 2025. The record supports trust, while the revisions show why an opening forecast is not a guarantee.
| What management forecast | Checked | Above | Within | Below |
|---|---|---|---|---|
| Site leasing revenue | 5 years | 4 | 0 | 1 |
| Adjusted EBITDA | 5 years | 4 | 1 | 0 |
| AFFO per share | 5 years | 4 | 1 | 0 |
How have SBA’s revenue and profit changed?
Revenue rose 2.3% from Q2 2025, while leasing net operating income rose 3.2%. The mix mattered: domestic leasing contracted, international results benefited from acquisitions and currency, and development revenue fell 23.5%. TCF rose 2.7%, but its margin fell from 81.0% to 79.5%.
| Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | 715,274 | 703,438 | 719,583 | 732,327 | 698,981 | 664,248 | 693,700 | 667,595 |
| Net operating income | 529,809 | 524,237 | 535,546 | 529,146 | 513,217 | 500,731 | 530,231 | 507,749 |
| FFO per share | 2.81 | 2.77 | 4.96 | 3.13 | 3.14 | 2.95 | 2.42 | 3.06 |
| AFFO per share (company's measure) | 3.05 | 3.03 | 3.19 | 3.30 | 3.17 | 3.18 | 3.47 | 3.32 |
What should I watch in SBA’s next results?
SBA will release third-quarter results after market close on November 2, 2026. Management has said U.S. leasing should contribute less in the second half of 2026 than in the first. The key question is whether that reflects timing or weaker carrier demand. Applications, signed agreements and rent commencement occur at different stages, so a busy pipeline does not immediately become revenue.