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SBA Communications to Report Q4 Earnings: What to Expect?
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Key Takeaways
SBA Communications to report Q4 earnings on Feb. 26, with revenues expected to rise 4.5% YoY to $724.9M.
SBAC expects site-leasing revenues of $668.8M, up from $646.3M a year ago.
SBAC's AFFO per share seen at $3.25, down 6.3% YoY amid debt and Sprint-related churn.
SBA Communications Corporation (SBAC - Free Report) is scheduled to report fourth-quarter 2025 results on Feb. 26, after market close. While the company’s quarterly results might display a rise in revenues year over year, adjusted funds from operations (AFFO) per share is expected to decline.
In the last reported quarter, this Boca Raton, FL-based communications tower REIT reported an AFFO per share of $3.30, beating the Zacks Consensus Estimate of $3.19. Results reflected a growth in revenues during the quarter. However, higher costs and interest expenses undermined the performance to some extent.
Over the preceding four quarters, SBAC’s AFFO per share surpassed the Zacks Consensus Estimate on all occasions, the average beat being 2.33%. The graph below depicts this surprise history:
SBA Communications Corporation Price and EPS Surprise
In the fourth quarter, SBA communications might have gained from wireless carriers’ high capital spending for network expansion amid growth in mobile data usage and accelerated 5G network deployment efforts.
The company’s long-term (typically five to 10 years) tower leases with wireless service providers that have built-in rent escalators are likely to have generated stable site-leasing revenues for the company in the quarter. Moreover, SBAC’s business expansion into domestic and select international markets might have led to revenue growth during the to-be-reported quarter.
However, high debt burden and elevated sprint-related churn in certain markets where the company operates might have been deterrents for SBAC’s quarterly performance to some extent.
Projections for SBA Communications
The Zacks Consensus Estimate for fourth-quarter site-leasing revenues, which account for the lion’s share of total revenues, is pegged at $668.8 million, indicating an increase from the year-ago quarter’s $646.3 million.
Site-development revenues are expected to improve in the fourth quarter. The consensus mark stands at $56.2 million, implying growth from $47.4 million reported in the year-ago period.
The Zacks Consensus Estimate for total quarterly revenues is pegged at $724.9 million, indicating year-over-year growth of 4.5%.
The company’s activities in the to-be-reported quarter were inadequate to garner analysts’ confidence. The Zacks Consensus Estimate for quarterly AFFO per share remained unchanged at $3.25 over the past two months. The figure also implies a year-over-year decline of 6.3%.
What Our Quantitative Model Predicts for SBA Communications
Our proven model does not conclusively predict a surprise in terms of AFFO per share for SBA Communications this season. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an AFFO beat, which is not the case here.
SBA Communications currently has an Earnings ESP of 0.00% and a Zacks Rank of 3 (Hold). You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Cousins Properties (CUZ - Free Report) reported fourth-quarter 2025 FFO per share of 71 cents, in line with the Zacks Consensus Estimate. The figure increased 2.9% on a year-over-year basis.
CUZ experienced healthy leasing activity in the quarter. The weighted average occupancy decreased, while interest expenses increased and marred the growth tempo.
Crown Castle Inc. (CCI - Free Report) reported fourth-quarter 2025 AFFO per share of $1.12, which topped the Zacks Consensus Estimate of $1.07 per share. However, the figure declined nearly 6.7% year over year.
CCI’s results reflected a rise in services and other revenues year over year. A decrease in site rental revenues affected the results to some extent.
Note: Anything related to earnings presented in this write-up represents FFO, a widely used metric to gauge the performance of REITs.
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SBA Communications to Report Q4 Earnings: What to Expect?
Key Takeaways
SBA Communications Corporation (SBAC - Free Report) is scheduled to report fourth-quarter 2025 results on Feb. 26, after market close. While the company’s quarterly results might display a rise in revenues year over year, adjusted funds from operations (AFFO) per share is expected to decline.
In the last reported quarter, this Boca Raton, FL-based communications tower REIT reported an AFFO per share of $3.30, beating the Zacks Consensus Estimate of $3.19. Results reflected a growth in revenues during the quarter. However, higher costs and interest expenses undermined the performance to some extent.
Over the preceding four quarters, SBAC’s AFFO per share surpassed the Zacks Consensus Estimate on all occasions, the average beat being 2.33%. The graph below depicts this surprise history:
SBA Communications Corporation Price and EPS Surprise
SBA Communications Corporation price-eps-surprise | SBA Communications Corporation Quote
Factors at Play
In the fourth quarter, SBA communications might have gained from wireless carriers’ high capital spending for network expansion amid growth in mobile data usage and accelerated 5G network deployment efforts.
The company’s long-term (typically five to 10 years) tower leases with wireless service providers that have built-in rent escalators are likely to have generated stable site-leasing revenues for the company in the quarter. Moreover, SBAC’s business expansion into domestic and select international markets might have led to revenue growth during the to-be-reported quarter.
However, high debt burden and elevated sprint-related churn in certain markets where the company operates might have been deterrents for SBAC’s quarterly performance to some extent.
Projections for SBA Communications
The Zacks Consensus Estimate for fourth-quarter site-leasing revenues, which account for the lion’s share of total revenues, is pegged at $668.8 million, indicating an increase from the year-ago quarter’s $646.3 million.
Site-development revenues are expected to improve in the fourth quarter. The consensus mark stands at $56.2 million, implying growth from $47.4 million reported in the year-ago period.
The Zacks Consensus Estimate for total quarterly revenues is pegged at $724.9 million, indicating year-over-year growth of 4.5%.
The company’s activities in the to-be-reported quarter were inadequate to garner analysts’ confidence. The Zacks Consensus Estimate for quarterly AFFO per share remained unchanged at $3.25 over the past two months. The figure also implies a year-over-year decline of 6.3%.
What Our Quantitative Model Predicts for SBA Communications
Our proven model does not conclusively predict a surprise in terms of AFFO per share for SBA Communications this season. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an AFFO beat, which is not the case here.
SBA Communications currently has an Earnings ESP of 0.00% and a Zacks Rank of 3 (Hold). You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
You can see the complete list of today’s Zacks #1 Rank stocks here.
Performance of Other REITs
Cousins Properties (CUZ - Free Report) reported fourth-quarter 2025 FFO per share of 71 cents, in line with the Zacks Consensus Estimate. The figure increased 2.9% on a year-over-year basis.
CUZ experienced healthy leasing activity in the quarter. The weighted average occupancy decreased, while interest expenses increased and marred the growth tempo.
Crown Castle Inc. (CCI - Free Report) reported fourth-quarter 2025 AFFO per share of $1.12, which topped the Zacks Consensus Estimate of $1.07 per share. However, the figure declined nearly 6.7% year over year.
CCI’s results reflected a rise in services and other revenues year over year. A decrease in site rental revenues affected the results to some extent.
Note: Anything related to earnings presented in this write-up represents FFO, a widely used metric to gauge the performance of REITs.