NASDAQ$SBAC
SBA Communications Corporation · Q4 2025 earnings
Q4 2025 earnings · · After market close · Investor relations
Briefing
SBA Communications reported Q4 2025 net income of $370.4M ($3.47 per share) and AFFO per share of $3.19.
Fourth-quarter net income was $370.4 million, or $3.47 per share, with industry-leading AFFO per share of $3.19. The company repurchased 1.1 million shares, closed Millicom Central America sites, and raised the quarterly dividend 13% to $1.25. 2026 outlook excludes disputed EchoStar contracted revenue.
- Q4 NI $370.4M; EPS $3.47.
- AFFO/sh $3.19.
- Dividend +13% to $1.25.
- Share repurchases at avg $191.
- 2026 outlook assumes steady carrier capex.
Headline financials
Revenue & EPS history
SBA · Revenue · Quarterly
$720M
Revenue by segment
SBA · $45.1M total across 1 segment · Q3 2023
- Site Development$45.1M-48.9%100.0%
Forward guidance
2026 outlook excludes EchoStar contracted revenue pending dispute; dividend ~41% of AFFO.
Tailwinds
- Global 5G densification and new spectrum deployments.
- Accretive buybacks and dividend growth.
Headwinds
- EchoStar receivable dispute.
- FX on international leasing revenue.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q4 2025
-0.1%
Avg return
Earnings day
+0.4%
Avg return
5 days after
+0.7%
Avg return
30 days after
50%
32 / 64 earnings
Positive
+9.4%
Q3 2023
Best reaction
-9.6%
Q2 2011
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -0.7% | +0.1% | -6.6% | |
| Q4 2025 | +4.7% | +2.2% | -13.1% | |
| Q3 2025 | +1.3% | +2.0% | -1.8% | |
| Q1 2025 | +6.8% | +8.4% | +3.1% | |
| Q4 2024 | +3.0% | +2.4% | +1.7% | |
| Q3 2024 | -4.2% | -6.7% | -5.5% | |
| Q2 2024 | +1.5% | +7.0% | +6.0% | |
| Q1 2024 | -5.2% | -1.6% | -5.0% | |
| Q4 2023 | -6.1% | -2.2% | +2.4% | |
| Q3 2023 | +9.4% | +5.8% | +20.7% | |
| Q2 2023 | -2.4% | -3.5% | -2.8% | |
| Q1 2023 | -5.3% | -8.2% | -15.0% | |
| Q4 2022 | -7.9% | -8.3% | -12.2% | |
| Q3 2022 | +2.1% | +0.9% | +10.8% | |
| Q2 2022 | +0.7% | +2.9% | -3.1% | |
| Q1 2022 | -4.1% | -5.3% | -5.5% | |
| Q4 2021 | +3.2% | +7.8% | +11.8% | |
| Q3 2021 | +3.8% | -0.3% | -1.7% | |
| Q2 2021 | +1.5% | +1.8% | +7.4% | |
| Q1 2021 | -0.6% | +1.1% | +0.7% | |
| Q4 2020 | -5.0% | -2.5% | +4.1% | |
| Q3 2020 | +0.2% | +5.6% | -2.0% | |
| Q2 2020 | -0.4% | -0.1% | +0.8% | |
| Q1 2020 | -0.1% | +1.2% | +4.2% | |
| Q4 2019 | +2.0% | +0.4% | -20.9% | |
| Q3 2019 | -2.2% | -1.6% | -2.7% | |
| Q2 2019 | +4.9% | +5.0% | +11.1% | |
| Q1 2019 | +1.3% | +2.9% | +1.3% | |
| Q4 2018 | -0.2% | -1.1% | +7.7% | |
| Q3 2018 | +0.8% | +4.0% | +3.0% | |
| Q2 2018 | -1.1% | -1.0% | -1.6% | |
| Q1 2018 | -0.9% | +0.1% | +0.0% | |
| Q4 2017 | -5.6% | -11.6% | -1.4% | |
| Q3 2017 | +7.1% | +5.3% | +15.7% | |
| Q2 2017 | -0.2% | +1.7% | +11.2% | |
| Q1 2017 | +2.0% | +2.5% | +9.2% | |
| Q4 2016 | +4.1% | +3.4% | +7.8% | |
| Q3 2016 | -5.2% | -6.4% | -15.2% | |
| Q2 2016 | +2.0% | +0.5% | +1.0% | |
| Q1 2016 | -3.9% | — | — | |
| Q4 2015 | -1.1% | — | — | |
| Q3 2015 | -8.6% | — | — | |
| Q2 2015 | +1.0% | — | — | |
| Q1 2015 | -1.2% | — | — | |
| Q4 2014 | +4.1% | — | — | |
| Q3 2014 | -1.7% | — | — | |
| Q2 2014 | -1.2% | — | — | |
| Q1 2014 | +5.7% | — | — | |
| Q4 2013 | -3.2% | — | — | |
| Q3 2013 | +4.0% | — | — | |
| Q2 2013 | -1.0% | — | — | |
| Q1 2013 | +1.1% | — | — | |
| Q4 2012 | +1.0% | — | — | |
| Q3 2012 | +0.4% | — | — | |
| Q2 2012 | +0.1% | — | — | |
| Q1 2012 | -0.4% | — | — | |
| Q4 2011 | +1.6% | — | — | |
| Q3 2011 | -1.7% | — | — | |
| Q2 2011 | -9.6% | — | — | |
| Q1 2011 | +2.1% | — | — | |
| Q4 2010 | -0.8% | — | — | |
| Q3 2010 | -2.1% | — | — | |
| Q2 2010 | +1.6% | — | — | |
| Q1 2010 | +3.0% | — | — |
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