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AI brief of an SEC Form 8-K · SBA Communications (SBAC)

SBA Communications Q4 net income rises to $370.4M; AFFO per share falls 8.1%

Mixed Impact 4 of 5 earnings Written later

SBA Communications reported fourth-quarter 2025 results, with net income of $370.4 million ($3.47 per diluted share) versus $178.8 million a year earlier, though that figure includes a $226.3 million gain on the sale of its Canadian operations. AFFO per share fell 8.1% to $3.19, and the company issued initial 2026 guidance that excludes all contracted EchoStar revenue while declaring a dividend of $1.25 per share, up about 13%.

Key points

  • Q4 2025 site leasing revenue rose 3.1% to $666.2 million; net income was $370.4 million, or $3.47 per diluted share, versus $1.61 a year earlier.
  • AFFO fell 9.2% to $340.4 million, and AFFO per share fell 8.1% to $3.19 from $3.47.
  • 2026 outlook projects total revenues of $2,815.0 million to $2,860.0 million and AFFO per share of $11.84 to $12.29, excluding all contracted EchoStar revenue.
  • Quarterly dividend of $1.25 per share is payable March 27, 2026, to holders of record on March 13, 2026.

The filing

CompanySBA Communications (SBAC)
Form8-K, current report
Filed with the SECFeb 26, 2026, 4:17 PM ET
Accession number0001193125-26-076767

Items reported: 2.02 Results of Operations

Read the filing on SEC.gov ↗

Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 12:42 AM ET, from the text of the filing and its press-release exhibits only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on February 26, 2026.

Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.