Sba Communications Corp

Company facts

Industry

Real Estate Investment Trusts

Headquarters

Boca Raton, Florida

Most recent report

10-Q, filed Aug 6, 2026

Incorporated

Florida

Filings on record

1,000+ filings

On EDGAR

CIK 1034054

Fiscal year ends

December

Filer status

Large accelerated filer

What to read: Jun 2026 10-Q

SECSift found 3 of 8 sections worth reading, with 2 positive, 5 notable, and 5 negative flags.

• Financial Statements (Item 1)

  Core financials: $3.5B refi, $383M NI, intl growth, tax dispute.
  Notable

  • Post-period issued $3.5B senior notes; repaid revolver & term loan; new $2.5B revolver.
  • Noncontrolling shareholder exercised put option to sell its joint venture interest.
  Negative

  • Brazil tax dispute: possible loss $0-$115.8M plus $194.3M penalties.

• Management's Discussion (Item 2)

  MD&A with detailed segment results, churn guidance, and post-quarter $3.5B refinancing.
  Positive

  • International site leasing revenue up 22.4% constant currency in Q2 2026, driven by Millicom acquisition.
  • International site leasing operating profit up 24.0% constant currency in Q2 2026.
  Negative

  • Full-year 2026 churn expected at $132M–$136M domestic and $36M–$40M international.
  • Domestic site leasing revenue down 3.7% in Q2 2026 vs prior year on Sprint/EchoStar churn.
  • Site development revenue down 23.5% constant currency in Q2 2026 due to decreased carrier activity.
  • Net income decreased 5.2% constant currency in Q2 2026 vs prior year, to $196.5M.

• Market Risk (Item 3)

  Debt schedule shows $12.8B total with $3B maturing in 2027; post-period refinancing disclosed.
  Notable

  • Post-period: July 23 repaid $1.055B revolving facility and term loan, issued 2026 Senior Notes.
  • 20.7% of revenue and 25.7% of expenses are in foreign currencies, creating FX exposure.
  • A 10% FX move on intercompany debt would swing net income by $91.4M unrealized gain/loss.

What changed: Jun 2026 vs. Mar 2026

About 20% of SBAC's Jun 2026 10-Q is new information. 73 paragraphs were added, 153 changed, and 39 removed. Below are the most important lines SECSift identified.

• Item 2 89
• Item 1 57
• Item 3 17
• Item 6 2
• Item 4 1
• Item 5 1