Shentel(US:SHEN) Globenewswire·2025-10-29 20:05Core Insights - Shenandoah Telecommunications Company ("Shentel") reported a significant increase in Adjusted EBITDA margin from 27% in Q2 2024 to 33% in Q3 2025, indicating strong operational efficiency following the Horizon acquisition [3][5] - Glo Fiber revenue and subscribers grew by 41% year-over-year, with total passings increasing by 21,000 sequentially to over 400,000 [3][5] Financial Performance - Total revenue for Q3 2025 was $89.8 million, a 2.5% increase compared to Q3 2024 [5] - Glo Fiber Expansion Markets revenue reached $21.3 million, reflecting a 41.1% growth due to a 41.3% increase in average subscribers [5][6] - Net loss from continuing operations was $9.4 million in Q3 2025, compared to a loss of $5.3 million in Q3 2024 [5][28] - Adjusted EBITDA increased by 11.8% to $29.7 million, with the Adjusted EBITDA margin expanding from 30% in Q3 2024 to 33% in Q3 2025 [5][28] Operational Highlights - The company constructed 20,000 Glo Fiber passings and added approximately 5,800 new Glo Fiber customers in Q3 2025 [6] - Residential & SMB - Incumbent Broadband Markets passings grew by 4,000 to a total of 248,000, with 89% of planned passings in previously unserved areas completed [6] - Commercial Fiber revenue declined by $1.1 million, primarily due to non-cash deferred revenue adjustments [6] Capital Expenditures and Financial Outlook - Capital expenditures for the nine months ended September 30, 2025, were $251.5 million, up from $226.5 million in the same period in 2024 [13] - The company reiterated its 2025 financial guidance, projecting total revenue between $352 million and $357 million, and Adjusted EBITDA between $113 million and $118 million [10][11] Liquidity and Debt - As of September 30, 2025, Shentel had total available liquidity of $212.6 million, including $22.6 million in cash and cash equivalents [13] - Total indebtedness was $535.4 million as of September 30, 2025 [13]