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SBA Communications (SBAC) Q3 2026 earnings results (third quarter 2026)
10-Q filed Nov 5, 2026
SBA Communications (SBAC) reported revenue of $714M for the third quarter 2026 (Q3 2026), -3% from a year earlier and -0.2% from the quarter before. Operating margin was 51.5%, net earnings $231M (32.4% of revenue).
SBA Communications, Q3 2026: revenue $714M (-2% year over year), operating margin 51.5%, net earnings $231M, operating cash flow $332M. The chart follows the revenue to costs, profit and cash.
| Q3 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $714M | -0.2% | -3% |
| Gross profit | $542M | +0.6% | 0% |
| Operating profit | $368M | +5% | -2% |
| Net earnings | $231M | +16% | -2% |
| Operating cash flow | $332M | -19% | +4% |
| Free cash flow | $259M | -25% | +6% |
What changed
Revenue was $713.9M in Q3 2026, down 3% year over year and roughly flat from the previous quarter. Domestic Site Leasing was the largest line at 64% of revenue. Site Development lost $27.3M year over year (down 36%), 149% of the total change.
Gross margin was 76.0%, up 1.9 points from Q3 2025. Operating profit was $367.7M, a 51.5% margin (up 0.4 points year over year). Operating expenses grew 4% against a revenue fall of 3%. Net earnings were $231.3M, down 2% year over year. The effective tax rate was 8.7%.
Operating cash flow was $331.8M (up 4% year over year), 143% of net earnings. Non-cash charges added back $84.4M of depreciation and amortization and $18.0M of share-based compensation. Capital expenditures of $72.8M left free cash flow of $259.1M.
Questions
What was SBA Communications' revenue in the third quarter 2026?
SBA Communications (SBAC) reported revenue of $714M for the third quarter 2026 (Q3 2026), -3% from a year earlier and -0.2% from the quarter before.
Was SBA Communications profitable in the third quarter 2026?
Operating profit was $368M (51.5% of revenue) and net earnings $231M.
Source: SBA Communications 10-Q on SEC EDGAR.