(RTTNews) - SBA Communications Corp. (SBAC) reported second-quarter net income of $198.8 million or $1.87 per share, compared with $225.8 million or $2.09 per share in the prior-year quarter.
Quarterly site leasing revenue increased 5.1% to $663.9 million from $631.8 million a year ago, while site development revenue declined 23.5% to $51.4 million. Total revenue rose to $715.3 million from $699.0 million in the prior year.
Adjusted funds from operations or AFFO declined 5.2% to $324.4 million. AFFO per share fell to $3.05 from $3.17 a year earlier.
Separately, SBA's board declared a quarterly cash dividend of $1.25 per Class A common share, payable September 17, 2026, to shareholders of record as of August 20, 2026.
For fiscal 2026, the company updated its outlook and now expects site leasing revenue of $2.651 billion to $2.676 billion, compared with its prior outlook, reflecting a $2 million increase at the midpoint. Total revenue is projected at $2.841 billion to $2.886 billion. AFFO is expected to be between $1.270 billion and $1.318 billion, with AFFO per share of $11.95 to $12.40.
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