revenue $703.4M, net income $184.8M. SBA Communications completes Millicom acquisition

Filed May 5, 2026 · Period ending March 31, 2026 · Compared to 10-Q May 1, 2025 · ~1 min read

Key Changes

• high

  Domestic site leasing revenue declined in Q1 2026 vs. decline in Q1 2025, driven by Sprint and EchoStar churn. Company guides to -136M domestic churn through 2026, with operating income down year-over-year.

  MD&A: Domestic Revenue & Operating Profit verify on EDGAR →
• high

  Millicom acquisition closed, adding 7,110 international towers. International revenue swung from decline in Q1 2025 to growth in Q1 2026, with operating profit up year-over-year.

  MD&A: International Revenue & Millicom verify on EDGAR →
• medium

  Interest expense jumped year-over-year after refinancing Tower Securities with higher-cost Revolving Credit Facility borrowings. Revolver utilization increased at quarter-end.

  MD&A: Interest Expense & Debt verify on EDGAR →