SBA Communications Corp Class A

SBAC: XNAS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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SBA Earnings: Carrier Activity Remains Muted; We're Skeptical of the Value of Dish Equipment

Michael Hodel

Nov 3, 2026

SBA's revenue declined 2.5% in the third quarter. As with its US peers, services revenue was very weak, down 36% at SBA, reflecting volatile carrier activity. Core tower leasing revenue in the US declined 3.4%, in line with the past two quarters. International leasing revenue increased 13%.

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SBA Communications Corp Class A

SBA Earnings: Carrier Activity Remains Muted; We're Skeptical of the Value of Dish Equipment

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