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Operating Income by Segment
Segment-level operating income reveals profitability after operating expenses and overhead, indicating which lines drive core earnings, where operating leverage exists, and how costs or integration issues affect the company’s ability to convert revenue into profit.Domestic operating income jumped materially in early‑2024 and has remained at a higher run‑rate—driven by straight‑line site‑leasing and a pickup in international leasing—helping sustain strong tower cash‑flow margins and underpin recent dividend increases and planned buybacks. Offsetting this tailwind, growing “Other” losses, elevated international churn and softer U.S. new‑build returns create downside risk to future operating income. The $3.5B unsecured bond, lower secured debt mix and targeted leverage give SBA the financing flexibility to fund builds and returns, so durability hinges on leasing execution and churn stabilization.
Date | Other | Domestic Site Leasing | International Site Leasing | Site Development |
|---|---|---|---|---|
Jun 30, 2026 | -$22.77M | $292.11M | $77.64M | $4.88M |
Mar 31, 2026 | -$18.94M | $278.20M | $80.40M | $3.19M |
Dec 31, 2025 | -$19.40M | $245.13M | $69.07M | $4.13M |
Sep 30, 2025 | -$17.09M | $309.55M | $72.67M | $9.04M |
Jun 30, 2025 | -$17.82M | $307.39M | $35.47M | $9.74M |
Mar 31, 2025 | -$17.04M | $303.95M | $42.23M | $5.78M |
Dec 31, 2024 | -$15.71M | $326.54M | $64.72M | $6.78M |
Sep 30, 2024 | -$12.10M | $324.37M | $57.56M | $5.76M |
Jun 30, 2024 | -$12.29M | $313.32M | $50.53M | $2.90M |
Mar 31, 2024 | -$15.96M | $285.63M | $52.54M | $1.15M |