SBA Communications SBAC Q2 2026 earnings

“We had another solid quarter, with financial and operating results in line with our expectations. Carrier activity remained steady, with our customers both upgrading sites and expanding their networks through new colocations. With Auction 115 around the corner, we're excited about future network deployments and partnering with our customers to cement the U.S. as a leader in wireless connectivity and 6G. In the second quarter, we saw increased new tower construction as we ramped up efforts in Central America building sites for Millicom and others. We expect to continue seeing this production grow steadily throughout the year. Our balance sheet got even stronger as we completed our first investment grade bond offering, issuing $3.5 billion of senior unsecured notes, meaningfully reducing the amount of secured debt and laying a solid foundation for future financings. We also replaced our prior secured revolving credit facility with a new $2.5 billion unsecured revolving credit facility. With our enhanced liquidity and investment grade balance sheet, we expect to continue growing our dividend at the highest growth rate in the industry while investing in our portfolio and incremental shareholder returns through stock repurchases. We ended the quarter with net debt to Adjusted EBITDA of 6.4x, in the middle of our target range of 6.0x to 7.0x, leaving us plenty of capacity to do both.”