SBAC · 8-K · 20261102PR443666
Guidance / Outlook
SBA COMMUNICATIONS CORP · 2026-11-02 · Importance 70 · Surprise 60 · No source text
SBA updated its full-year 2026 outlook, forecasting site leasing revenue of $2,643 million to $2,658 million, total revenue of $2,833 million to $2,858 million, and Adjusted EBITDA of $1,918 million to $1,928 million. The outlook assumes fourth-quarter exchange rates of 5.32 Brazilian reais, 2,560 Tanzanian shillings, and 16.40 South African rand per U.S. dollar. Discretionary cash capital expenditures are forecast at $480 million to $490 million, an increase of $20 million from the prior outlook midpoint. The outlook assumes a fourth-quarter refinancing of $1,165 million in tower securities at 5.25%, but the company has not finalized its refinancing plan and the actual rate is subject to market conditions.
Key facts
- SBA’s full-year 2026 site leasing revenue outlook is $2,643.0 million to $2,658.0 million. source
- SBA’s full-year 2026 total revenue outlook is $2,833.0 million to $2,858.0 million. source
- SBA’s full-year 2026 tower cash flow outlook is $2,083.0 million to $2,098.0 million. source
- SBA’s full-year 2026 adjusted EBITDA outlook is $1,918.0 million to $1,928.0 million. source
- SBA’s full-year 2026 AFFO outlook is $1,284.0 million to $1,308.0 million, or $12.15 to $12.37 per share. source
- SBA’s full-year 2026 net cash interest expense outlook is $487.0 million to $493.0 million. source
- SBA’s full-year 2026 site development revenue outlook is $190.0 million to $200.0 million. source
- SBA’s site leasing revenue bridge projects 2026 total site leasing revenue of $2,643 million to $2,658 million consolidated, $1,815 million to $1,825 million domestic, and $828 million to $833 million international. source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| revenue | positive | committed | +134.0% | SBA’s site leasing revenue bridge includes non-organic revenue of $81 million consolidated, $4 million domestic, and $77 million… |
| revenue | positive | committed | +120.8% | The site leasing revenue bridge projects escalations of $72 million to $74 million consolidated, $51 million to $52 million domestic, and… |
| revenue | positive | committed | +90.1% | SBA’s 2025-to-2026 site leasing revenue bridge projects new leases and amendments of $53 million to $56 million consolidated, $34 million… |
| revenue | negative | committed | -16.5% | The sale of SBA’s towers and related assets in Chile and Ecuador reduced 2026 full-year outlook by approximately $10.0 million in site… |
| operating_income | negative | committed | -6.6% | The sale of SBA’s towers and related assets in Chile and Ecuador reduced 2026 full-year outlook by approximately $10.0 million in site… |
| cash | negative | committed | -0.0% | The sale of SBA’s towers and related assets in Chile and Ecuador reduced 2026 full-year outlook by approximately $10.0 million in site… |
| revenue | unclear | committed | — | SBA’s full-year 2026 total revenue outlook is $2,833.0 million to $2,858.0 million. |
| cash | unclear | committed | — | SBA’s full-year 2026 tower cash flow outlook is $2,083.0 million to $2,098.0 million. |
| operating_income | unclear | committed | — | SBA’s full-year 2026 adjusted EBITDA outlook is $1,918.0 million to $1,928.0 million. |
| cash | unclear | committed | — | SBA’s full-year 2026 AFFO outlook is $1,284.0 million to $1,308.0 million, or $12.15 to $12.37 per share. |
| net_income | negative | committed | — | SBA’s full-year 2026 net cash interest expense outlook is $487.0 million to $493.0 million. |