Latest news with #Shentel
Yahoo
4 days ago
- Business
- Yahoo
Glo Fiber Expands Service and Opens New Retail Location in Williamsburg, Virginia
Williamsburg New Glo Store EDINBURG, Va., June 10, 2025 (GLOBE NEWSWIRE) -- Glo Fiber, powered by Shenandoah Telecommunications Company ('Shentel') (Nasdaq: SHEN), has opened a new Williamsburg, Virginia retail store for ultra-fast fiber internet service. A grand opening event is scheduled for June 12th from 4 p.m. to 6 p.m. in Midtown Row on Monticello Avenue. The Tide 92.3 FM will be appearing at the store with special Glo Fiber offers and chances to win concert tickets and other prizes. Glo Fiber internet, streaming TV, and voice services are already available to over 18,000 homes and businesses in the Williamsburg market, and construction to several thousand additional locations is planned by the end of the year. "The opening of our new store in Williamsburg marks an exciting milestone in our commitment to delivering fast, reliable fiber-optic internet to the region," said Chris Kyle, Vice President of Regulatory & Industry Affairs at Shentel. "This central location will provide easy access to customer support, service upgrades, and the latest in fiber technology for residents of Williamsburg, James City County, and York County. As we continue to expand, we remain dedicated to enhancing connectivity, fostering innovation, and ensuring that our customers experience the best in high-speed internet and local service." Glo Fiber provides super-fast, symmetrical upload and download speeds of up to 5 gigabits per second (Gbps). Fiber-to-the-home technology and Shentel's 17,200-mile regional fiber network enable Glo Fiber to deliver high speeds, low latency, and unparalleled internet reliability. The company has earned a reputation for providing superior, local customer service across its markets, including the growing list of communities in Virginia, West Virginia, Maryland, Pennsylvania, Ohio, and Delaware. Glo Fiber takes great pride in several key competitive differentiators: Fiber-to-the-home technology with exceptional reliability Symmetrical download and upload speeds of up to 5 Gbps Easy, straight-forward pricing with no long-term contracts Prompt and friendly local customer service Glo Fiber store hours are 9 a.m. to 6 p.m. Monday through Friday and the first Saturday of every month. To learn more, please visit for residential service and for commercial service. About Glo FiberGlo Fiber provides next-generation fiber-to-the-home (FTTH) multi-gigabit broadband internet access, live streaming TV, and digital phone service powered by Shentel (Nasdaq: SHEN). With services now available to approximately 363,000 homes and businesses, Glo Fiber offers reliable, symmetrical broadband service using state-of-the-art technology, including XGS-PON 10 Gbps networks. About Shenandoah TelecommunicationsShenandoah Telecommunications Company (Shentel) provides broadband services through its high speed, state-of-the-art fiber optic and cable networks to residential and commercial customers in eight contiguous states in the eastern United States. Shentel's services include: broadband internet, video, voice, high-speed Ethernet, dark fiber leasing, and managed network services. The Company owns an extensive regional network with over 17,200 route miles of fiber. For more information, please visit Media Contact:Jennifer McDowell, A photo accompanying this announcement is available at in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Globe and Mail
30-04-2025
- Business
- Globe and Mail
Shenandoah Telecommunications Company Reports First Quarter 2025 Results
EDINBURG, Va., April 30, 2025 (GLOBE NEWSWIRE) -- Shenandoah Telecommunications Company ('Shentel' or the 'Company') (Nasdaq: SHEN) announced first quarter 2025 financial and operating results. First Quarter 2025 Highlights Glo Fiber Expansion Markets 1 data subscribers grew 51% over the same period in 2024 to approximately 71,000. Glo Fiber Expansion Markets revenue grew 52% to $18.4 million. Total revenue grew 26.9% compared to the same period in 2024 to $87.9 million. Excluding the former Horizon markets, total revenue grew 5% to $72.9 million. Net loss from continuing operations was $9.1 million in the first quarter of 2025 compared with a net loss from continuing operations of $4.1 million in the first quarter of 2024. The increase in the net loss was due primarily to higher depreciation and amortization from Horizon and Glo Fiber network expansion. Adjusted EBITDA 2 grew 43.3% to $27.6 million. Excluding the former Horizon markets, Adjusted EBITDA grew $3.9 million, or 20.6%. 'We are pleased with our growth in the first quarter of 2025, as we continued to execute well in our Glo Fiber Expansion Markets with 5,400 new subscribers, 16,600 new passings and 52% revenue growth.' said President and CEO, Christopher E. French. 'Glo Fiber growth and higher Horizon synergy savings were key drivers in our return to strong Adjusted EBITDA growth in our legacy markets of 20.6%, along with an increase in Adjusted EBITDA margins from 28% to 31%.' Shentel's first -quarter earnings conference call will be webcast at 8:30 a.m. ET on Wednesday, April 30, 2025. The webcast and related materials will be available on Shentel's Investor Relations website at First Quarter 2025 Results Compared with First Quarter 2024 Revenue increased by $18.7 million, or 26.9%, to $87.9 million, primarily due to $15.2 million of revenues earned in the acquired Horizon markets. Excluding Horizon, revenues grew by $3.5 million, or 5.0%, primarily due to Glo Fiber Expansion Markets Residential & SMB revenue growth of $5.6 million, or 46.5%. This growth was partially offset by Incumbent Broadband Markets 3 revenue decline of $2.2 million, or 5.0%. Glo Fiber Expansion Markets revenue growth in Shentel's legacy markets was driven by a 46.3% year-over-year growth in data revenue generating units ('RGUs') driven by the Company's increase in passings. Incumbent Broadband Markets revenue decreased primarily due to lower video revenue driven by a 14.1% decline in video RGUs and lower data revenue driven by a decrease in non-recurring other revenue. Cost of services increased by $7.0 million, or 27.1%, due to $7.6 million of cost of services incurred in the acquired Horizon markets, partially offset by a $0.6 million decrease in cost of services incurred in the legacy Shentel markets, driven by a decrease in programming costs. Selling, general and administrative expense increased by $3.0 million, or 10.8%, due to $3.2 million of selling, general and administrative costs incurred in the acquired Horizon markets and a $0.2 million decrease in the legacy Shentel markets driven by lower professional fees. Restructuring, integration and acquisition expense of $0.5 million in the three months ended March 31, 2025 was comparable with the three months ended March 31, 2024. Depreciation and amortization increased by $12.0 million, or 68.9%, due to $9.2 million of depreciation and amortization related to the tangible and intangible assets acquired in the Horizon transaction and the Company's expansion of its Glo Fiber network. Total broadband homes passed grew 128,000 to approximately 604,000, including 363,000 Glo Fiber Expansion Market passings and 241,000 Incumbent Broadband Markets passings. ____________________________________ 1 Glo Fiber Expansion Markets consists of FTTH passings in greenfield expansion markets in the Shentel and Horizon markets. 2 See 'Non-GAAP Financial Measures' below for a reconciliation to the most comparable GAAP measure. 3 Incumbent Broadband Markets consists of Shentel Incumbent Cable Markets and Horizon Incumbent Telephone Markets with Fiber-To-The-Home ('FTTH') passings. Other Information Capital expenditures were $83.2 million for the three months ended March 31, 2025 compared with $70.1 million in the comparable 2024 period. The $13.2 million increase in capital expenditures was primarily driven by capital expenditures in the Horizon markets and expansion of the networks in Glo Fiber Expansion Markets and government-subsidized markets. The Company received $6.9 million and $2.7 million in government grant cash reimbursements during the three months ended March 31, 2025 and 2024, respectively. As of March 31, 2025, our cash and cash equivalents totaled $87.5 million, the availability under our Revolver was $143.0 million, and the remaining reimbursements available under government grants was $104.1 million, which are subject to fulfilling the terms of the agreements, for total available liquidity of approximately $334.6 million. During the three months ended March 31, 2025, we borrowed a total of $100.0 million under our term loans and had total indebtedness of $515.8 million as of March 31, 2025. Earnings Call Webcast Date: Wednesday, April 30, 2025 Time: 8:30 a.m. ET Listen via Internet: For Analysts, please register to dial-in at this link. A replay of the call will be available for a limited time on the Investor Relations page of the Company's website. About Shenandoah Telecommunications Shenandoah Telecommunications Company (Shentel) provides broadband services through its high speed, state-of-the-art fiber optic and cable networks to residential and commercial customers in eight contiguous states in the eastern United States. The Company's services include: broadband internet, video, voice, high-speed Ethernet, dark fiber leasing, and managed network services. The Company owns an extensive regional network with over 17,200 route miles of fiber. For more information, please visit This release contains forward-looking statements about Shentel regarding, among other things, its business strategy, its prospects and its financial position. These statements can be identified by the use of forward-looking terminology such as 'believes,' 'estimates,' 'expects,' 'intends,' 'may,' 'will,' 'plans,' 'should,' 'could,' or 'anticipates' or the negative or other variation of these or similar words, or by discussions of strategy or risks and uncertainties. The forward-looking statements are based upon management's beliefs, assumptions and current expectations and may include comments as to Shentel's beliefs and expectations as to future events and trends affecting its business that are necessarily subject to uncertainties, many of which are outside Shentel's control. Although management believes that the expectations reflected in the forward-looking statements are reasonable, forward-looking statements are not, and should not be relied upon as, a guarantee of future performance or results, nor will they necessarily prove to be accurate indications of the times at which such performance or results will be achieved, and actual results may differ materially from those contained in or implied by the forward-looking statements as a result of various factors. A discussion of other factors that may cause actual results to differ from management's projections, forecasts, estimates and expectations is available in Shentel's filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K for the year ended December 31, 2024 and our Quarterly Reports on Form 10-Q. Those factors may include, among others, the expected savings and synergies from the Horizon transaction may not be realized or may take longer or cost more than expected to realize, changes in overall economic conditions including rising inflation, regulatory requirements, changes in technologies, changes in competition, demand for our products and services, availability of labor resources and capital, natural disasters, pandemics and outbreaks of contagious diseases and other adverse public health developments, such as COVID-19, and other conditions. The forward-looking statements included are made only as of the date of the statement. Shentel undertakes no obligation to revise or update such statements to reflect current events or circumstances after the date hereof, or to reflect the occurrence of unanticipated events, except as required by law. CONTACTS: Shenandoah Telecommunications Company Jim Volk Senior Vice President and Chief Financial Officer 540-984-5168 SHENANDOAH TELECOMMUNICATIONS COMPANY AND SUBSIDIARIES UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (in thousands, except per share amounts) Three Months Ended March 31, 2025 2024 Residential & SMB - Incumbent Broadband Markets 1, 3 $ 43,359 $ 43,809 Residential & SMB - Glo Fiber Expansion Markets 2 18,444 12,118 Commercial Fiber 3 19,612 9,938 RLEC & Other 6,483 3,383 Service revenue and other 87,898 69,248 Operating expenses: Cost of services exclusive of depreciation and amortization 33,030 25,985 Selling, general and administrative 30,992 27,978 Restructuring, integration and acquisition 510 618 Depreciation and amortization 29,458 17,443 Total operating expenses 93,990 72,024 Operating loss (6,092) (2,776) Other (expense) income: Interest expense (4,892) (4,076) Other income, net 733 1,736 Loss from continuing operations before income taxes (10,251) (5,116) Income tax benefit (1,119) (1,026) Loss from continuing operations (9,132) (4,090) Discontinued operations: Income from discontinued operations, net of tax — 1,981 Gain on the sale of discontinued operations, net of tax — 216,805 Total income from discontinued operations, net of tax — 218,786 Net (loss) income (9,132) 214,696 Dividends on redeemable noncontrolling interest 1,472 — Net (loss) income attributable to common shareholders $ (10,604) $ 214,696 Net (loss) income per share attributable to common shareholders, basic and diluted: Loss from continuing operations $ (0.19) $ (0.08) Income from discontinued operations, net of tax — 4.33 Net (loss) income per share $ (0.19) $ 4.25 Weighted average shares outstanding 54,959 50,520 _______________________________________________________ Revenue from residential and small and medium business ('SMB') customers in Incumbent Broadband Markets is primarily earned through the Company's provision of data, video and voice services over primarily hybrid fiber coaxial cable and to a lesser extent fiber to the home ('FTTH') networks in incumbent markets. Revenue from residential and SMB customers in Glo Fiber Expansion Markets is primarily earned through the Company's provision of data, video and voice services over FTTH networks in new greenfield expansion markets. Shentel updated the presentation of certain Residential & SMB - Incumbent Broadband Markets and Commercial Fiber revenues in the prior year to conform with changes in how management views these lines of business. SHENANDOAH TELECOMMUNICATIONS COMPANY AND SUBSIDIARIES UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (in thousands) March 31, 2025 December 31, 2024 ASSETS Current assets: Cash and cash equivalents $ 87,547 $ 46,272 Accounts receivable, net of allowance for credit losses of $988 and $1,156, respectively 29,749 29,722 Income taxes receivable 1,080 1,244 Prepaid expenses and other 16,088 17,282 Total current assets 134,464 94,520 Investments 15,534 15,709 Property, plant and equipment, net 1,483,796 1,438,538 Goodwill and intangible assets, net 157,275 157,723 Operating lease right-of-use assets 19,834 19,548 Deferred charges and other assets 14,550 14,235 Total assets $ 1,825,453 $ 1,740,273 LIABILITIES, TEMPORARY EQUITY AND SHAREHOLDERS' EQUITY Current liabilities: Current maturities of long-term debt, net of unamortized loan fees $ 10,348 $ 9,204 Accounts payable 59,266 57,820 Advanced billings and customer deposits 16,432 16,104 Accrued compensation 11,172 16,283 Current operating lease liabilities 3,060 3,060 Accrued liabilities and other 11,716 12,100 Total current liabilities 111,994 114,571 Long-term debt, less current maturities, net of unamortized loan fees 504,199 407,675 Other long-term liabilities: Deferred income taxes 166,397 167,716 Benefit plan obligations 4,864 4,945 Non-current operating lease liabilities 10,945 10,794 Other liabilities 32,645 33,525 Total other long-term liabilities 214,851 216,980 Commitments and contingencies Temporary equity: Redeemable noncontrolling interest 83,936 82,464 Shareholders' equity: Common stock, no par value, authorized 96,000; 54,857 and 54,605 issued and outstanding at March 31, 2025 and December 31, 2024, respectively — — Additional paid in capital 150,857 147,733 Retained earnings 758,393 768,997 Accumulated other comprehensive income, net of taxes 1,223 1,853 Total shareholders' equity 910,473 918,583 Total liabilities, temporary equity and shareholders' equity $ 1,825,453 $ 1,740,273 SHENANDOAH TELECOMMUNICATIONS COMPANY AND SUBSIDIARIES UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (in thousands) Three Months Ended March 31, 2025 2024 Cash flows from operating activities: Net (loss) income $ (9,132) $ 214,696 Income from discontinued operations, net of tax — 218,786 Loss from continuing operations (9,132) (4,090) Adjustments to reconcile net (loss) income to net cash provided by operating activities: Depreciation and amortization 28,984 17,320 Amortization of intangible assets 474 123 Stock-based compensation expense, net of amount capitalized 3,717 3,966 Deferred income taxes (1,119) (1,026) Provision for credit losses 288 756 Other, net 480 (184) Changes in assets and liabilities Accounts receivable 2,490 1,726 Current income taxes 164 — Operating lease assets and liabilities, net (135) 75 Other assets (682) (4,495) Accounts payable 992 (38) Other deferrals and accruals (5,997) (1,218) Net cash provided by operating activities - continuing operations 20,524 12,915 Net cash provided by operating activities - discontinued operations — 2,243 Net cash provided by operating activities 20,524 15,158 Cash flows from investing activities: Capital expenditures (83,236) (70,053) Government grants received 6,929 2,710 Proceeds from sale of assets and other 47 — Net cash used in investing activities - continuing operations (76,260) (67,343) Net cash provided by investing activities - discontinued operations — 305,827 Net cash (used in) provided by investing activities (76,260) 238,484 Cash flows from financing activities: Proceeds from credit facility borrowings 100,000 — Principal payments on long-term debt (2,178) (1,312) Taxes paid for equity award issuances (787) (1,456) Payments for financing arrangements and other (24) (394) Net cash provided by (used in) financing activities 97,011 (3,162) Net increase in cash and cash equivalents 41,275 250,480 Cash and cash equivalents, beginning of period 46,272 139,255 Cash and cash equivalents, end of period $ 87,547 $ 389,735 Supplemental Disclosures of Cash Flow Information Interest paid, net of amounts capitalized $ (4,262) $ (3,955) Income tax refunds received $ 164 $ — Non-GAAP Financial Measures Adjusted EBITDA and Adjusted EBITDA Margin The Company defines Adjusted EBITDA as (loss) income from continuing operations calculated in accordance with GAAP, adjusted for the impact of depreciation and amortization, impairment expense, other income (expense), net, interest income, interest expense, income tax expense (benefit), stock compensation expense, transaction costs related to acquisition and disposition events (including professional advisory fees, integration costs, and related compensatory matters), restructuring expense, tax on equity award vesting and exercise events, and other non-comparable items. A reconciliation of (loss) income from continuing operations, which is the most directly comparable GAAP financial measure, to Adjusted EBITDA is provided below herein. Adjusted EBITDA margin is the Company's calculation of Adjusted EBITDA, divided by revenue calculated in accordance with GAAP. The Company uses Adjusted EBITDA and Adjusted EBITDA margin as supplemental measures of performance to evaluate operating effectiveness and assess its ability to increase revenues while controlling expense growth and the scalability of the Company's business growth strategy. Adjusted EBITDA is also a significant performance measure used by the Company in its incentive compensation programs. The Company believes that the exclusion of the expense and income items eliminated in calculating Adjusted EBITDA and Adjusted EBITDA margin provides management and investors a useful measure for period-to-period comparisons of the Company's core operating results by excluding items that are not comparable across reporting periods or that do not otherwise relate to the Company's ongoing operations. Accordingly, the Company believes that Adjusted EBITDA and Adjusted EBITDA margin provide useful information to investors and others in understanding and evaluating the Company's operating results. However, use of Adjusted EBITDA and Adjusted EBITDA margin as analytical tools has limitations, and investors and others should not consider them in isolation or as substitutes for analysis of our financial results as reported under GAAP. In addition, other companies may calculate Adjusted EBITDA and Adjusted EBITDA margin or similarly titled measures differently, which may reduce their usefulness as comparative measures. Three Months Ended March 31, (in thousands) 2025 2024 Loss from continuing operations $ (9,132) $ (4,090) Depreciation and amortization 29,458 17,443 Interest expense 4,892 4,076 Other income, net (733) (1,736) Income tax benefit (1,119) (1,026) Stock-based compensation 3,717 3,966 Restructuring, integration and acquisition 510 618 Adjusted EBITDA $ 27,593 $ 19,251 Adjusted EBITDA margin 31 % 28 % Supplemental Information In the below table, Shentel updated the presentation of certain Residential & SMB - Incumbent Broadband Markets and Commercial Fiber revenues in the prior year to conform with changes in how management views these lines of business. Operating Statistics Three Months Ended March 31, 2025 2024 Homes and businesses passed (1) Incumbent Broadband Markets (4) 240,788 216,514 Glo Fiber Expansion Markets (5) 362,861 259,567 Total homes and businesses passed 603,649 476,081 Residential & Small and Medium Business ("SMB") Revenue Generating Units ("RGUs"): Incumbent Broadband Markets (4) 111,860 108,958 Glo Fiber Expansion Markets (5) 70,565 46,729 Broadband Data 182,425 155,687 Video 38,395 40,148 Voice 26,037 24,039 Total Residential & SMB RGUs (excludes RLEC) 246,857 219,874 Residential & SMB Penetration (2) Incumbent Broadband Markets (4) 46.5 % 50.3 % Glo Fiber Expansion Markets (5) 19.4 % 18.0 % Broadband Data 30.2 % 32.7 % Video 6.4 % 8.4 % Voice 4.5 % 5.3 % Fiber route miles 17,224 10,132 Total fiber miles (3) 1,893,402 883,199 ______________________________________________________ (1) Homes and businesses are considered passed ('passings') if we can connect them to our network without further extending the distribution system. Passings is an estimate based upon the best available information. Passings will vary among video, broadband data and voice services. (2) Penetration is calculated by dividing the number of users by the number of passings or available homes, as appropriate. (3) Total fiber miles are measured by taking the number of fiber strands in a cable and multiplying that number by the route distance. For example, a 10 mile route with 144 fiber strands would equal 1,440 fiber miles. (4) Incumbent Broadband Markets consists of Shentel Incumbent Cable Markets and Horizon Incumbent Telephone Markets with FTTH passings. (5) Glo Fiber Expansion Markets consists of FTTH passings in greenfield expansion markets in the Shentel and Horizon markets. Three Months Ended March 31, 2025 2024 Residential & SMB Revenue: Incumbent Broadband Markets 27,875 27,505 Glo Fiber Expansion Markets 15,764 10,193 Broadband Data $ 43,639 $ 37,698 Video 14,658 14,380 Voice 2,560 2,462 Other 946 1,387 Total Residential & SMB Revenue $ 61,803 $ 55,927 Average RGUs: Incumbent Broadband Markets 111,528 109,255 Glo Fiber Expansion Markets 67,868 44,163 Broadband Data 179,396 153,418 Video 39,256 41,294 Voice 25,783 24,039 ARPU: (1) Incumbent Broadband Markets $ 83.31 $ 83.92 Glo Fiber Expansion Markets $ 77.42 $ 76.93 Broadband Data $ 81.09 $ 81.91 Video $ 124.46 $ 116.08 Voice $ 33.09 $ 34.14 ______________________________________________________ (1) Average Revenue Per RGU calculation = (Residential & SMB Revenue) / average RGUs / 3 months. Shentel updated the presentation of certain revenues in the prior year to conform with changes in how management views these lines of business. This reclassification also resulted in updated ARPU values for the prior period. The 2024 reclassification are summarized in the following table: Residential & SMB ARPU Q1'24 Q2'24 Q3'24 Q4'24 2024 Prior Reporting Revenue: Incumbent Broadband Markets $ 27,798 $ 28,324 $ 28,241 $ 28,489 $ 112,852 Glo Fiber Expansion Markets 10,783 12,499 13,797 15,053 52,132 Broadband Data 38,581 40,823 42,038 43,542 164,984 Video 14,394 14,913 14,520 14,203 58,030 Voice 3,023 3,283 3,275 3,184 12,765 Discounts, adjustments and other 490 34 (508) (403) (387) Total Residential & SMB Revenue $ 56,488 $ 59,053 $ 59,325 $ 60,526 $ 235,392 Commercial Fiber 9,377 19,921 20,257 17,456 67,011 RLEC & Other 3,383 6,825 8,017 7,430 25,655 Service revenue and other $ 69,248 $ 85,799 $ 87,599 $ 85,412 $ 328,058 Average RGUs: Incumbent Broadband Markets 109,255 111,689 111,224 111,384 110,888 Glo Fiber Expansion Markets 44,163 50,892 56,290 62,387 53,432 Broadband Data 153,418 162,581 167,514 173,771 164,320 Video 41,294 42,443 41,630 40,596 41,491 Voice 40,690 43,865 44,214 44,840 43,402 ARPU: Incumbent Broadband Markets $ 84.81 $ 84.53 $ 84.64 $ 85.26 $ 84.81 Glo Fiber Expansion Markets $ 81.39 $ 81.86 $ 81.70 $ 80.42 $ 81.30 Broadband Data $ 83.83 $ 83.70 $ 83.65 $ 83.52 $ 83.67 Video $ 116.19 $ 117.12 $ 116.26 $ 116.62 $ 116.55 Voice $ 24.77 $ 24.95 $ 24.69 $ 23.67 $ 24.51 Residential & SMB ARPU Q1'24 Q2'24 Q3'24 Q4'24 2024 Current Reporting Revenue: Incumbent Broadband Markets $ 27,505 $ 28,015 $ 27,876 $ 28,120 $ 111,516 Glo Fiber Expansion Markets 10,193 11,840 12,980 14,169 49,182 Broadband Data 37,698 39,855 40,856 42,289 160,698 Video 14,380 14,894 14,495 14,173 57,942 Voice 2,462 2,526 2,508 2,442 9,938 Other 1,387 1,021 699 880 3,987 Total Residential & SMB Revenue $ 55,927 $ 58,296 $ 58,558 $ 59,784 $ 232,565 Commercial Fiber 9,938 20,678 21,024 18,198 69,838 RLEC & Other 3,383 6,825 8,017 7,430 25,655 Service revenue and other $ 69,248 $ 85,799 $ 87,599 $ 85,412 $ 328,058 Average RGUs: Incumbent Broadband Markets 109,255 111,689 111,224 111,384 110,888 Glo Fiber Expansion Markets 44,163 50,892 56,290 62,387 53,432 Broadband Data 153,418 162,581 167,514 173,771 164,320 Video 41,294 42,443 41,630 40,596 41,491 Voice 24,039 23,143 23,392 23,968 23,636 ARPU: (1) Incumbent Broadband Markets $ 83.92 $ 83.61 $ 83.54 $ 84.15 $ 83.81 Glo Fiber Expansion Markets $ 76.93 $ 77.55 $ 76.86 $ 75.70 $ 76.70 Broadband Data $ 81.91 $ 81.71 $ 81.30 $ 81.12 $ 81.50 Video $ 116.08 $ 116.97 $ 116.06 $ 116.37 $ 116.37 Voice $ 34.14 $ 36.38 $ 35.74 $ 33.96 $ 35.04
Associated Press
30-04-2025
- Business
- Associated Press
Shenandoah Telecommunications Company Reports First Quarter 2025 Results
EDINBURG, Va., April 30, 2025 (GLOBE NEWSWIRE) -- Shenandoah Telecommunications Company ('Shentel' or the 'Company') (Nasdaq: SHEN) announced first quarter 2025 financial and operating results. First Quarter 2025 Highlights 'We are pleased with our growth in the first quarter of 2025, as we continued to execute well in our Glo Fiber Expansion Markets with 5,400 new subscribers, 16,600 new passings and 52% revenue growth.' said President and CEO, Christopher E. French. 'Glo Fiber growth and higher Horizon synergy savings were key drivers in our return to strong Adjusted EBITDA growth in our legacy markets of 20.6%, along with an increase in Adjusted EBITDA margins from 28% to 31%.' Shentel'sfirst-quarter earnings conference call will be webcast at8:30 a.m. ETonWednesday,April 30, 2025. The webcast and related materials will be available on Shentel's Investor Relations website athttps:// First Quarter 2025 Results Compared with First Quarter 2024 ____________________________________ 1 Glo Fiber Expansion Markets consists of FTTH passings in greenfield expansion markets in the Shentel and Horizon markets. 2 See 'Non-GAAP Financial Measures' below for a reconciliation to the most comparable GAAP measure. 3 Incumbent Broadband Markets consists of Shentel Incumbent Cable Markets and Horizon Incumbent Telephone Markets with Fiber-To-The-Home ('FTTH') passings. Other Information Earnings Call Webcast Date: Wednesday, April 30, 2025 Time: 8:30 a.m. ET Listen via Internet: For Analysts, please register to dial-in at this link. A replay of the call will be available for a limited time on the Investor Relations page of the Company's website. About Shenandoah Telecommunications Shenandoah Telecommunications Company (Shentel) provides broadband services through its high speed, state-of-the-art fiber optic and cable networks to residential and commercial customers in eight contiguous states in the eastern United States. The Company's services include: broadband internet, video, voice, high-speed Ethernet, dark fiber leasing, and managed network services. The Company owns an extensive regional network with over 17,200 route miles of fiber. For more information, please visit This release contains forward-looking statements about Shentel regarding, among other things, its business strategy, its prospects and its financial position. These statements can be identified by the use of forward-looking terminology such as 'believes,' 'estimates,' 'expects,' 'intends,' 'may,' 'will,' 'plans,' 'should,' 'could,' or 'anticipates' or the negative or other variation of these or similar words, or by discussions of strategy or risks and uncertainties. The forward-looking statements are based upon management's beliefs, assumptions and current expectations and may include comments as to Shentel's beliefs and expectations as to future events and trends affecting its business that are necessarily subject to uncertainties, many of which are outside Shentel's control. Although management believes that the expectations reflected in the forward-looking statements are reasonable, forward-looking statements are not, and should not be relied upon as, a guarantee of future performance or results, nor will they necessarily prove to be accurate indications of the times at which such performance or results will be achieved, and actual results may differ materially from those contained in or implied by the forward-looking statements as a result of various factors. A discussion of other factors that may cause actual results to differ from management's projections, forecasts, estimates and expectations is available in Shentel's filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K for the year endedDecember 31, 2024and our Quarterly Reports on Form 10-Q. Those factors may include, among others, the expected savings and synergies from the Horizon transaction may not be realized or may take longer or cost more than expected to realize, changes in overall economic conditions including rising inflation, regulatory requirements, changes in technologies, changes in competition, demand for our products and services, availability of labor resources and capital, natural disasters, pandemics and outbreaks of contagious diseases and other adverse public health developments, such as COVID-19, and other conditions. The forward-looking statements included are made only as of the date of the statement. Shentel undertakes no obligation to revise or update such statements to reflect current events or circumstances after the date hereof, or to reflect the occurrence of unanticipated events, except as required by law. CONTACTS: Shenandoah Telecommunications Company Jim Volk Senior Vice President and Chief Financial Officer 540-984-5168 [email protected] _______________________________________________________ Non-GAAP Financial Measures Adjusted EBITDA and Adjusted EBITDA Margin The Company defines Adjusted EBITDA as (loss) income from continuing operations calculated in accordance with GAAP, adjusted for the impact of depreciation and amortization, impairment expense, other income (expense), net, interest income, interest expense, income tax expense (benefit), stock compensation expense, transaction costs related to acquisition and disposition events (including professional advisory fees, integration costs, and related compensatory matters), restructuring expense, tax on equity award vesting and exercise events, and other non-comparable items. A reconciliation of (loss) income from continuing operations, which is the most directly comparable GAAP financial measure, to Adjusted EBITDA is provided below herein. Adjusted EBITDA margin is the Company's calculation of Adjusted EBITDA, divided by revenue calculated in accordance with GAAP. The Company uses Adjusted EBITDA and Adjusted EBITDA margin as supplemental measures of performance to evaluate operating effectiveness and assess its ability to increase revenues while controlling expense growth and the scalability of the Company's business growth strategy. Adjusted EBITDA is also a significant performance measure used by the Company in its incentive compensation programs. The Company believes that the exclusion of the expense and income items eliminated in calculating Adjusted EBITDA and Adjusted EBITDA margin provides management and investors a useful measure for period-to-period comparisons of the Company's core operating results by excluding items that are not comparable across reporting periods or that do not otherwise relate to the Company's ongoing operations. Accordingly, the Company believes that Adjusted EBITDA and Adjusted EBITDA margin provide useful information to investors and others in understanding and evaluating the Company's operating results. However, use of Adjusted EBITDA and Adjusted EBITDA margin as analytical tools has limitations, and investors and others should not consider them in isolation or as substitutes for analysis of our financial results as reported under GAAP. In addition, other companies may calculate Adjusted EBITDA and Adjusted EBITDA margin or similarly titled measures differently, which may reduce their usefulness as comparative measures. Supplemental Information In the below table, Shentel updated the presentation of certain Residential & SMB - Incumbent Broadband Markets and Commercial Fiber revenues in the prior year to conform with changes in how management views these lines of business. Operating Statistics ______________________________________________________ (1) Homes and businesses are considered passed ('passings') if we can connect them to our network without further extending the distribution system. Passings is an estimate based upon the best available information. Passings will vary among video, broadband data and voice services. (2) Penetration is calculated by dividing the number of users by the number of passings or available homes, as appropriate. (3) Total fiber miles are measured by taking the number of fiber strands in a cable and multiplying that number by the route distance. For example, a 10 mile route with 144 fiber strands would equal 1,440 fiber miles. (4) Incumbent Broadband Markets consists of Shentel Incumbent Cable Markets and Horizon Incumbent Telephone Markets with FTTH passings. (5) Glo Fiber Expansion Markets consists of FTTH passings in greenfield expansion markets in the Shentel and Horizon markets. ______________________________________________________ (1) Average Revenue Per RGU calculation = (Residential & SMB Revenue) / average RGUs / 3 months. Shentel updated the presentation of certain revenues in the prior year to conform with changes in how management views these lines of business. This reclassification also resulted in updated ARPU values for the prior period. The 2024 reclassification are summarized in the following table:
Yahoo
08-04-2025
- Business
- Yahoo
Shentel Expands High-Speed, Reliable Broadband Service in Bedford County
Laying Fiber EDINBURG, Va., April 08, 2025 (GLOBE NEWSWIRE) -- Shenandoah Telecommunications Company ('Shentel') (Nasdaq: SHEN), a leading provider of broadband services, recently extended high-speed, gigabit internet service to approximately 2,500 additional homes in Bedford County and plans to add over 1,500 more by the end of the year. This $24 million construction project is partly funded by the Commonwealth of Virginia's nationally recognized Virginia Telecommunication Initiative (VATI) run by the Department of Housing and Community Development (DHCD). The rest of the funding comes from Shentel's own capital investment and a contribution from Bedford County. The goal of the VATI initiative is to create strong, competitive communities by expanding broadband infrastructure into rural areas that lack access to high-speed internet. 'Since the inception of our broadband partnership with Shentel, their company representatives have been true professionals – responsive, accessible, and diligent – which Bedford County staff and leadership greatly appreciate,' stated Tommy Scott, Bedford County Board Chairman. 'More importantly, over the last year the volume and quality of Shentel and their contractors' field work has been excellent. Indeed, they have made tremendous progress in receiving the required permits, burying, and installing aerial fiber optic cable and offering their service to Bedford County residents.' 'Shentel has been in Bedford County for many years and it's encouraging to see them continually expanding their services to citizens and businesses currently without adequate broadband,' said Robert Hiss, Bedford County Administrator. 'Bedford County has enjoyed working with Shentel's capable and professional staff. Over the past year, we've witnessed Shentel make steady progress on their contracted broadband work and anticipate them completing their project in the fall of 2025.' As a leading broadband internet provider serving smaller markets and rural communities, Shentel takes great pride in several key differentiators: Fast internet with exceptional reliability Easy, straight-forward pricing with no long-term contracts Prompt and friendly local customer service A full range of video and voice service options 'We are thrilled at the opportunity to expand our high-speed internet network in Bedford County. We are grateful for the leadership of Bedford County and the Department of Housing and Community Development and know that this partnership is positively impacting residents,' said Chris Kyle, Vice President of Government Affairs. To learn more about Shentel, please visit for residential service and for commercial service. About Shenandoah TelecommunicationsShenandoah Telecommunications Company (Shentel) provides broadband services through its high-speed, state-of-the-art fiber optic and cable networks to residential and commercial customers in eight contiguous states in the eastern United States. Shentel's services include: broadband internet, video, voice, high-speed Ethernet, dark fiber leasing, and managed network services. The Company owns an extensive regional network with over 16,800 route miles of fiber. For more information, please visit Media Contact:Jennifer A photo accompanying this announcement is available at in to access your portfolio
Yahoo
11-02-2025
- Business
- Yahoo
Glo Fiber Brings Lightning Fast Fiber Optic Internet to Berryville, VA
Expansion will bring internet speeds up to 5 Gbps to the county seat of Clarke County EDINBURG, Va., Feb. 11, 2025 /PRNewswire/ -- Glo Fiber, powered by Shenandoah Telecommunications Company ("Shentel") (Nasdaq: SHEN), announced they have reached an agreement to deploy next generation fiber-to-the-home (FTTH) broadband services to Berryville, Virginia. Glo Fiber will bring a future-proof, 100% fiber network to approximately 1,800 homes and businesses in the area. Construction is slated to begin the summer of 2025. "Berryville is pleased about Glo Fiber's commitment to bring their advanced fiber-optic internet service to our community," said Keith Dalton, Town Manager of Berryville. "We look forward to our residents and business partners having additional options available to them for fast, reliable internet service." Glo Fiber provides super-fast, symmetrical upload and download speeds of up to 5 gigabits per second (Gbps). Fiber-to-the-home technology and Shentel's 16,000-mile regional fiber network enable Glo Fiber to deliver high speeds, low latency, and unparalleled internet reliability. The company has earned a reputation for providing superior local customer service across its markets, including the growing list of communities in Virginia, West Virginia, Maryland, Pennsylvania, Ohio, and Delaware. In addition to high-speed internet, Glo Fiber offers phone service, video service, and Whole Home Wi-Fi for a seamless connection anywhere in your home or business. "Shentel is thrilled to announce the expansion of Glo Fiber in Berryville," said Chris Kyle, Vice President of Industry Affairs & Regulatory. "This marks an exciting milestone as we expand further throughout the Shenandoah Valley. While we expand, our mission remains the same – provide high-speed, reliable fiber service to rural communities." Glo Fiber takes great pride in several key differentiators compared to their competitors: Fiber-to-the-home technology with exceptional reliability Symmetrical download and upload speeds of up to 5 Gbps Easy, straight-forward pricing with no long-term contracts Prompt and friendly local customer service To learn more about Glo Fiber, please visit for residential service and for commercial service. About Glo FiberGlo Fiber provides next-generation fiber-to-the-home (FTTH) multi-gigabit broadband internet access, live streaming TV, and digital phone service powered by Shentel (Nasdaq: SHEN). With services now available to approximately 320,000 homes and businesses, Glo Fiber offers reliable, symmetrical broadband service using state-of-the-art technology, including XGS-PON 10 Gbps networks. About Shenandoah TelecommunicationsShenandoah Telecommunications Company (Shentel) provides broadband services through its high speed, state-of-the-art fiber optic and cable networks to residential and commercial customers in eight contiguous states in the eastern United States. Shentel's services include: broadband internet, video, voice, high-speed Ethernet, dark fiber leasing, and managed network services. The Company owns an extensive regional network with over 16,300 route miles of fiber. For more information, please visit View original content to download multimedia: SOURCE Shenandoah Telecommunications Company Sign in to access your portfolio
