SBA Communications outlined plans to build around 600 new towers in 2026 and intends to resume share buybacks in the second half of the year. The company modestly raised its full-year 2026 outlook for site leasing revenue, adjusted funds from operations, and AFFO per share, citing higher straight-line revenues and improved net cash interest expenses. In the second quarter, AFFO per share was $3.05, and SBA added approximately $9 million of domestic new lease and amendment billings. The company also completed its first unsecured investment-grade bond issuance, raising $3.5 billion, which fully paid down its revolver and left $570 million of cash on the balance sheet. Internationally, SBA built 99 new towers in the quarter, up from 75 in the prior quarter, and expects that number to increase steadily.
SBA Communications CorpPlans 600 new towers, resumes buybacks, raises 2026 outlook, and completed $3.5B bond issuance.