SBA Communications lifts annual forecast on strong demand for cell tower leasing

The company reported second-quarter revenue of $715.3 million, beating analysts' average estimate of $706 million, according to data compiled by LSEG.

Adjusted funds from operations came in at $3.05 per share for the quarter ended June 30, ahead of expectations of $2.98 per share.

SBA Communications owned or operated 46,390 communication sites as of June 30.

Cell tower owner SBA Communications SBAC.O on Monday raised its annual revenue forecast and surpassed second-quarter revenue expectations, driven by strong demand for its leasing services from mobile network operators.

• SBA, whose major customers include wireless carriers Verizon VZ.N, AT&T T.N and T-Mobile TMUS.O, has benefitted from rising investments by mobile network operators to expand 5G and network capacity.
• The Florida-based cell tower owner now expects 2026 revenue between $2.841 billion and $2.886 billion, slightly up from its previous projection of $2.839 billion to .