Verizon and SBA Communications announced a long-term master lease agreement expanding Verizon’s access to SBA’s nationwide tower portfolio—strengthening Verizon’s 4G and 5G infrastructure strategy—while SBA posted robust third-quarter results with $240 million in net income and AFFO of $3.30 per share, exceeding forecasts and prompting an upgraded full-year outlook.
Verizon and SBA Communications have announced a new long-term agreement, securing a favorable framework that will drive significant cost certainty and support the continued expansion of Verizon’s world-class 4G and 5G services. This new agreement provides the flexibility needed for Verizon to be more nimble in managing its current infrastructure asset portfolio and deploying new technologies, ensuring coverage where customers need it and capacity when they demand it. It’s part of Verizon’s focus on engineering a reliable network that works when customers depend on it in the moments that matter most.
Although the master lease agreement locks in minimum commitments, the exact incremental growth —such as how many new sites, amendments, and co-locations —is not identified.
“Verizon is a leader in network reliability, and this long-term agreement with SBA strengthens that position,” said Phillip French, Vice President of Engineering at Verizon. “This new structure provides the framework we need to more efficiently manage our network portfolio, efficiently build out our network, stay nimble with future advancements, and deliver a secure, high-quality connection our customers can count on to power the moments that matter. It’s a strategic step that benefits our customers and our business.”
“Today’s announcement highlights the longstanding partnership between SBA Communications and Verizon. SBA’s leadership in wireless infrastructure and our commitment to quality help enable Verizon to deliver exceptional service nationwide, powering the essential connectivity people rely on,” said Brendan Cavanagh, President and Chief Executive Officer, SBA Communications. “We’re pleased to expand our relationship with this new long-term agreement, which reflects our shared commitment to operational excellence, innovation, and the future of communications.”
This strategic agreement reflects SBA’s high-quality tower portfolio and underscores Verizon’s commitment to focusing on the often unseen details critical to providing the reliable communications network and innovative services that power customers’ lives, the Verizon press statement said.
