Shenandoah Telecommunications Company (NASDAQ:SHEN) Q2 2023 Earnings Call Transcript August 2, 2023 8:30 AM ET Company Participants Kirk Andrews - Director of Financial Planning and Analysis Chris French - President and CEO Jim Volk - SVP of Finance and CFO Ed McKay - EVP and COO Conference Call Participants Frank Louthan - Raymond James Dan Day - B. Riley Hamed Khorsand - BWS Financial Operator Good morning, everyone. Welcome to Shenandoah Telecommunications Second Quarter 2023 Earnings Conference Call. To ...

Q2 2023 Earnings Conference Call August 2, 2023 This presentation includes "forward-looking statements" within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended, regarding our business strategy, our prospects and our financial position. These statements can be identified by the use of forward-looking terminology such as "believes," "estimates," "expects," "intends," "may," "will," "should," "could" or "anticipates" or the negative or other va ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D. C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from__________ to __________ Commission File No.: 000-09881 SHENANDOAH TELECOMMUNICATIONS COMPANY (Exact name of registrant as specified in its charter) Virginia 54-1 ...

Backhaul Connections 0.4% 0.1% 0.3% Q1'22 Monthly Compression 1. MRR = Monthly Recurring Revenue; MAR = Monthly Amortized Revenue 18 Tower - Metrics Towers Tenants 468 445 223 222 173 173 262 262 33 10 Q1'22 Q1'23 T-Mobile Intercompany Other Carriers Q1'22 Q1'23 SHENTEL® 19 Use of Non-GAAP Financial Measures | --- | --- | |------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ...

WeÂ've now been awarded a total of over $81 million in grants that will enable us to extend broadband over 25,000 unserved locations, primarily through fiber-to-the-home technology. With the completion of over 17,500 new Glo Fiber Passings and over 200 new government subsidized fiber passings in the first quarter, we now pass over 165,000 homes and businesses with fiber. In addition, our construction backlog remains very robust with 317,000 additional passings approved for construction. As we ramp up constr ...

Shenandoah Telecommunications Company (NASDAQ:SHEN) Q4 2022 Earnings Conference Call February 22, 2023 8:30 AM ET Company Participants Kirk Andrews - Director, FP&A Christopher French - Chairman, President & CEO James Volk - SVP, Finance & CFO Edward McKay - EVP & COO Conference Call Participants Frank Louthan - Raymond James & Associates Daniel Day - B. Riley Securities Hamed Khorsand - BWS Financial Operator Good morning, everyone. Welcome to the Shenandoah Communications Fourth Quarter 2022 Earnings Conf ...

Shenandoah Telecommunications Company (NASDAQ:SHEN) Q3 2022 Earnings Conference Call November 2, 2022 8:30 AM ET Company Participants Kirk Andrews - Director, Financial Planning & Analyst Chris French - President and Chief Executive Officer Jim Volk - Senior Vice President of Finance & Chief Financial Officer Ed McKay - Executive Vice President & Chief Operating Officer Conference Call Participants Frank Louthan - Raymond James Dan Day - B. Riley Hamed Khorsand - BWS Financial Operator Good morning, everyon ...

Q3 2022 Earnings Conference Call November 2, 2022 Safe Harbor Statement This presentation includes "forward-looking statements" within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended, regarding our business strategy, our prospects and our financial position. These statements can be identified by the use of forward-looking terminology such as "believes," "estimates," "expects," "intends," "may," "will," "should," "could" or "anticipates" or ...

Financial Data and Key Metrics Changes - Broadband revenue grew 9.2% to $61.4 million, driven by an 8.9% increase in residential and SMB revenue, primarily due to a 138.9% increase in Glo Fiber data RGUs [13][14] - Consolidated revenue grew 8.8% to $66 million, attributed to growth in Broadband and Tower revenues of 9.2% and 1.9% respectively [16] - Consolidated adjusted EBITDA increased 16.4% to $18.6 million, driven by a 10.2% increase in Broadband adjusted EBITDA and an 8.6% decline in corporate expenses [17][18] Business Line Data and Key Metrics Changes - Glo Fiber data net additions were approximately 3,300, increasing sequentially almost 39% [9][10] - Glo Fiber represented over half of residential and SMB revenue growth, with almost 19,000 new Glo Fiber passings added in the quarter [11][13] - The Tower segment revenue grew by $100,000 to $4.7 million, primarily due to a 3.8% increase in tenants [16] Market Data and Key Metrics Changes - Glo Fiber customer relationships more than doubled over the past year to over 17,000 [28] - The broadband data penetration rate across all markets remained steady at 15.2% [27] - Incumbent cable broadband data RGUs grew approximately 4.3% year-over-year, with a data penetration increase from 49.1% to 51% [32][34] Company Strategy and Development Direction - The company continues to focus on its Fiber First strategy, expanding its fiber network and customer acquisition [8][10] - Plans to ramp up construction to over 100,000 additional fiber passings in 2023, with a goal of 150,000 total fiber passings by the end of 2022 [24][45] - The company has secured over $68 million in state and local grant funds to bring gigabit broadband to over 19,000 unserved homes [25] Management's Comments on Operating Environment and Future Outlook - Management noted that the T-Mobile network turndown is progressing slower than expected, impacting revenue expectations [50] - The company expects adjusted EBITDA margins to improve modestly in the second half of the year [15] - Management remains confident in executing construction goals despite delays in state and grant contracts [44][45] Other Important Information - Free cash flow and cash on hand declined by approximately $50 million, ending the quarter with a liquidity position of $433 million [18] - The company plans to decommission 20 unprofitable Beam cell sites, expecting Beam to be EBITDA breakeven in the second half of the year [35] Q&A Session Summary Question: Can you talk to us a little bit about the funding that you've gotten? - Management expects the grants will be dispersed on a cost recovery basis with a lag of three to six months on average [48] Question: How is T-Mobile progress relative to expectations? - Management indicated that the progress is probably slower than expected regarding the turndown of the legacy Sprint network [50] Question: Any plans to sell the spectrum related to Beam? - Management plans to continue operating remaining cell sites but has started exploring options for selling the spectrum holdings [55] Question: Update on backhaul systems upgrades? - Management reported significant progress on ERP system upgrades and other operational improvements [58] Question: What's driving the increase in voice subscribers? - The increase is attributed to significant success with commercial voice customers [60]

Q1 2022 Earnings Conference Call August 3, 2022 Safe Harbor Statement This presentation includes "forward-looking statements" within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended, regarding our business strategy, our prospects and our financial position. These statements can be identified by the use of forward-looking terminology such as "believes," "estimates," "expects," "intends," "may," "will," "should," "could" or "anticipates" or th ...