Filing Flows › SBA Communications (SBAC) › Q3 2026 › vs Q2 2026
SBA Communications (SBAC) Q3 2026 vs Q2 2026 (quarter over quarter)
SBA Communications's revenue fell $1.4M (-0.2%) from $715M in Q2 2026 to $714M in Q3 2026. The biggest changes: Site Development −$2.8M (-5%); Domestic Site Leasing +$1.9M (+0.4%); International Site Leasing −$463K (-0.2%). Gross margin 76.0% against 75.4% (+0.6 pts).
SBA Communications, Q3 2026: revenue $714M (-2% year over year), operating margin 51.5%, net earnings $231M, operating cash flow $332M. The chart draws each line against Q2 2026, the increases inside each band.
Margins
| Q3 2026 | Q2 2026 | Change | |
|---|---|---|---|
| Gross margin | 76.0% | 75.4% | +0.6 pts |
| Operating margin | 51.5% | 49.2% | +2.3 pts |
| Net margin | 32.4% | 27.8% | +4.6 pts |
| Free cash flow margin | 36.3% | 48.2% | -11.9 pts |
Every line
| Line | Q3 2026 | Q2 2026 | Change | % |
|---|---|---|---|---|
| Domestic Site Leasing | $454M | $452M | $1.9M | +0.4% |
| International Site Leasing | $211M | $211M | −$463K | -0.2% |
| Site Development | $48.6M | $51.4M | −$2.8M | -5% |
| Revenue | $714M | $715M | −$1.4M | -0.2% |
| Gross profit | $542M | $539M | $3.1M | +0.6% |
| Cost of revenue | $172M | $176M | −$4.5M | -3% |
| Operating profit | $368M | $352M | $15.9M | +5% |
| Operating expenses | $175M | $187M | −$12.7M | -7% |
| Pre-tax earnings | $255M | $232M | $22.1M | +10% |
| Other expense, net | $113M | $119M | −$6.2M | -5% |
| SG&A | $68.0M | $77.5M | −$9.5M | -12% |
| Other operating costs | $107M | $110M | −$3.2M | -3% |
| Net earnings | $231M | $199M | $32.5M | +16% |
| Minority interests | $1.1M | −$2.3M | $3.4M | — |
| Income tax | $22.2M | $36.0M | −$13.8M | -38% |
| Depreciation & amortization | $84.4M | $81.4M | $3.1M | +4% |
| Share-based compensation | $18.0M | $26.8M | −$8.8M | -33% |
| Working capital & other | $1.9M | −$100M | $102M | — |
| Operating cash flow | $332M | $407M | −$75.3M | -19% |
| Free cash flow (OCF − capex) | $259M | $345M | −$85.7M | -25% |
| Capital expenditures | $72.8M | $62.4M | $10.4M | +17% |
Questions
How much did SBA Communications's revenue grow quarter over quarter in Q3 2026?
SBA Communications's revenue fell $1.4M (-0.2%) from $715M in Q2 2026 to $714M in Q3 2026.
What drove SBA Communications's revenue change in Q3 2026?
Site Development −$2.8M (-5%); Domestic Site Leasing +$1.9M (+0.4%); International Site Leasing −$463K (-0.2%).