Q2 FY26 · Ended Jun 30, 2026 · View SEC filing
The shrinking US book still earns most profit
US leasing is 63.3% of revenue but 83.0% of operating income, so its churn moves profit most.
For investorsWhat has to go right for US leasing to grow again
For foundersSelling the same space twice: the shared-infrastructure playbook
Acquired towers lifted international leasing sharply, yet it earns a 36.7% segment margin against 64.6% at home.
Operating income rose 5.1% while net income fell to $196.5M, as interest rose and a currency gain shrank.
Running costs took 20.2% of leasing revenue, so each new tenant or amendment falls mostly to operating profit.
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Business Lens describes SBA Communications from its own filings with the SEC. It is not a view on its shares, a target, or advice to buy, sell or hold anything; figures are as filed and may be restated by the company later. The filing is linked above.
