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SBA Communications SBAC Q2 2025 earnings

Reported August 4, 2025 · After market close

Revenue$699.0MMiss by $2.0MDiluted EPS$2.09Miss by $1.03
Revenue estimate$701.0M
EPS estimate$3.12

Next report

Aug 3, 2026 (In 3 weeks)
Revenue estimate$705.7M
EPS estimate$1.84

Financials

Q2 2025

Income statement

See full
Revenue$699.0M+5.8%
Gross profit$645.5M+1.9%
Operating income$334.8M-5.6%
Net income$225.8M+38.7%
EPS (diluted)$2.09+38.4%

Balance sheet

See full
Cash & equivalents$300.5M+6.1%
Total debt$12.5B+1.9%
Total equity-$4.9B+7.1%
Total assets$10.8B+10.0%

Cash flow

See full
Operating cash flow$368.1M-13.5%
CapEx$646.9M+606%
Free cash flow$312.2M-16.9%

Valuation & ratios

Valuation

as of 06/30/25
See full
Market cap$25.42B+19.8%
Enterprise value$37.63B+13.3%
P/E28.9×-12.3×
P/S9.3×+1.4×

Profitability

See full
Gross margin94.1%-1.9pp
Operating margin52.4%+9.9pp
Net margin32.3%+13.0pp
FCF margin39%-7.2pp

Returns & leverage

See full
Current ratio0.4×+0.2×

Segments

By segment

See full
Domestic Site Leasing Revenue$469.8M+1.4%
International Site Leasing Revenue$162.0M-0.8%
Site Development Construction$67.2M+97.5%

Versus estimates

Revenue

Q1 2026$703.4MBeat by $7.2MQ4 2025$719.6MMiss by $6.2MQ3 2025$732.3MBeat by $6.5M
Q2 2025$699.0MMiss by $2.0M
Q1 2025$664.2MBeat by $1.9MQ4 2024$693.7MBeat by $11.4M

Diluted EPS

Q1 2026$1.74Miss by $0.20Q4 2025$3.47Miss by $0.42Q3 2025$3.32Beat by $0.28
Q2 2025$2.09Miss by $1.03
Q1 2025$1.77Miss by $1.35Q4 2024$1.61Miss by $0.47

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Questions, answered.

When did SBA Communications report Q2 2025 earnings?
SBA Communications (SBAC) reported Q2 2025 earnings on August 4, 2025 after market close.
What were SBA Communications's Q2 2025 revenue and EPS?
SBA Communications reported revenue of $699.0M and diluted EPS of $2.09 for Q2 2025.
Did SBA Communications beat estimates in Q2 2025?
Revenue missed the consensus estimate of $701.0M by $2.0M. EPS missed the consensus estimate of $3.12 by $1.03.
How did SBA Communications's Q2 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 5.8% from $660.5M a year earlier and diluted EPS grew 38.4% from $1.51.
Where can I find SBA Communications's Q2 2025 SEC filings?
You can read the 10-Q periodic report (0001034054-25-000008) directly on SEC EDGAR. The filing index links above go to sec.gov.