SBAC · 10-Q · 2026Q3 · Full report
Segment Profitability
SBA COMMUNICATIONS CORP · 2026-11-05 · Importance 47 · Surprise 48 · In source text
For the nine months ended September 30, 2026, international site leasing operating profit rose $88.0 million to $442.5 million, or $75.5 million on a constant-currency basis. The increase reflected higher international leasing revenue and benefits from the ground lease purchase program, partly offset by costs for acquired and built towers. Domestic site leasing operating profit fell $49.8 million to $1,143.3 million, primarily because of Sprint, EchoStar, and other lease non-renewals. Site development operating profit declined $8.9 million to $28.0 million due to decreased carrier activity.
Key facts
- Q3 2026 Adjusted EBITDA decreased $5.2 million year over year, or $9.5 million on a constant-currency basis, due mainly to lower domestic site leasing and site development segment operating profit and higher cash SG&A, partly offset by higher international site leasing segment operating profit. source
- Nine-month 2026 Adjusted EBITDA increased $21.2 million year over year, or $0.8 million on a constant-currency basis, primarily due to higher international site leasing segment operating profit, partly offset by declines in domestic site leasing and site development and higher cash SG&A. source
- Nine-month 2026 domestic site leasing segment operating profit decreased $49.8 million year over year, primarily due to Sprint, EchoStar, and other lease non-renewals. source
- Nine-month 2026 international site leasing segment operating profit increased $92.5 million year over year, or $70.8 million on a constant-currency basis. source
- Site leasing contributed 98.3% of total segment operating profit for the nine months ended September 30, 2026. source
- Q3 2026 domestic site leasing segment operating profit decreased $17.4 million year over year, primarily due to Sprint, EchoStar, and other lease non-renewals. source
- Q3 2026 international site leasing segment operating profit increased $20.0 million year over year, or $15.4 million on a constant-currency basis. source
- Nine-month 2026 site development segment operating profit decreased $8.9 million year over year due to decreased carrier activity. source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| operating_income | positive | realized | +43.6% | Nine-month 2026 Adjusted EBITDA increased $21.2 million year over year, or $0.8 million on a constant-currency basis, primarily due to… |