Key Takeaways SHEN's Glo Fiber launched 100% fiber broadband in Hillsboro, OH, boosting digital access. Glo Fiber now reaches 363K homes, aiming for 550K by 2026, driving revenues up 27% to $87.9M. Strong margins and cash flow offset concerns over heavy buildout costs and market competition.Shenandoah Telecommunications (SHEN) ’s subsidiary, Glo Fiber, recently unveiled its 100% fiber-optic broadband service in select neighborhoods of Hillsboro, OH. The ongoing efforts to bring world-class digital infrast ...

EDINBURG, Va., June 20, 2025 (GLOBE NEWSWIRE) -- Shenandoah Telecommunications Company (“Shentel”, Nasdaq: SHEN) announced plans to expand Glo Fiber service in Blacksburg, Virginia with a definitive agreement to acquire the assets and operations of Blacksburg Broadband LLC, which operates under the name WideOpen Blacksburg. The acquisition is anticipated to be complete by early to mid-July. WideOpen Blacksburg’s President, Dr. Andrew Cohill, stated, “I am confident that Glo Fiber is going to provide outstan ...

Shenandoah Telecommunications (SHEN) Q1 2025 Earnings Call April 30, 2025 08:30 AM ET Company Participants Kirk Andrews - Director of FP&AChristopher French - Chairman, President & CEOJames Volk - Senior VP of Finance & CFOEdward McKay - Executive VP & COOFrank Louthan - Managing DirectorHamed Khorsand - Principal Operator Good morning, everyone. Welcome to the Shenandoah Telecommunications First Quarter twenty twenty five Earnings Conference Call. Today's conference is being recorded. At this time, I will ...

Shenandoah Telecommunications (SHEN) Q1 2025 Earnings Call April 30, 2025 08:30 AM ET Company Participants Kirk Andrews - Director of FP&AChristopher French - Chairman, President & CEOJames Volk - Senior VP of Finance & CFOEdward McKay - Executive VP & COOFrank Louthan - Managing DirectorHamed Khorsand - Principal Operator Good morning, everyone. Welcome to the Shenandoah Telecommunications First Quarter twenty twenty five Earnings Conference Call. Today's conference is being recorded. At this time, I will ...

Financial Data and Key Metrics Changes - Revenues grew 27% to $87.9 million, with former Horizon markets contributing $15.2 million. Excluding Horizon, revenues increased by $3.5 million or 5% compared to Q1 2024 [11] - Adjusted EBITDA increased by 43% to $27.6 million, with former Horizon markets contributing $4.4 million. Excluding Horizon, adjusted EBITDA grew by $4 million or 21% year-over-year [12] - Adjusted EBITDA margins improved from 28% in Q1 2024 to 31% in Q1 2025, driven by high incremental margins from Glo Fiber subscribers and synergy savings [12] Business Line Data and Key Metrics Changes - Glo Fiber expansion markets added 5,400 new subscribers and 16,600 new passings, resulting in a 52% revenue increase compared to the same period in 2024 [6] - Legacy Glo Fiber markets revenue grew by $5.6 million or 47%, driven by subscriber increases, while incumbent broadband markets revenue declined by $2.2 million due to a 14% drop in video RGUs [11] - The commercial sales team achieved record sales bookings of just under $200,000 in monthly recurring revenues [8] Market Data and Key Metrics Changes - Glo Fiber's broadband data penetration reached 19.4%, up from 18% a year earlier, with monthly broadband data churn remaining low at 0.9% [19] - Incumbent broadband markets saw a 2.7% year-over-year increase in broadband data customers, ending Q1 with approximately 112,000 customers [20] - Overall broadband data penetration decreased to 46.5% due to the addition of acquired passings in the Horizon territory [21] Company Strategy and Development Direction - The company plans to complete the construction phase of Glo Fiber expansion and government grant projects by the end of 2026, targeting 550,000 total Glo Fiber passings [16] - The company aims to achieve free cash flow positivity by 2027, with significant growth expected in 2028 and beyond [30] - The company is focusing on a hybrid capital structure to lower the cost of debt, planning to access the ABS market for its fiber business [14] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about growth prospects in Glo Fiber markets, highlighting the potential for free cash flow generation as penetration rates increase [6] - The company noted a favorable response from customers to enhanced rate plans and value propositions introduced in the past year [7] - Management expects EBITDA margins to continue growing by 300 to 400 basis points annually as customer additions increase [33] Other Important Information - Liquidity as of March 31 was $335 million, including $88 million in cash and $143 million in available revolver capacity [13] - Capital expenditures in Q1 totaled $76 million, with full-year guidance set between $250 million and $280 million [22] - The company has not been significantly impacted by price increases due to tariffs, with most materials sourced domestically [23][24] Q&A Session Summary Question: Potential for ABS securities and optimal capital structure - Management expects ABS to save about 100 basis points in interest expense and plans to use investment-grade tranches [28] Question: Glo Fiber capital expenditure plans - The company anticipates completing Glo Fiber construction by the end of 2026, with capital intensity expected to drop to 20-25% of revenues starting in 2027 [30] Question: Subscriber growth challenges - Management indicated that they are not yet facing difficulties in adding subscribers, with continued growth observed even in mature markets [36] Question: Competitive pressures - There is minimal competition in Glo Fiber markets, with only a small overlap with BrightSpeed [37] Question: Refinancing process and cost implications - The internal restructuring for refinancing is expected to save approximately $7 million in annual interest expense [40]

April 30, 2025 Q1 2025 Earnings Conference Call 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 ...

Core Viewpoint - Glo Fiber, a subsidiary of Shenandoah Telecommunications Company (Shentel), is expanding its fiber-to-the-home (FTTH) broadband services to Dover Township and Dover Borough in York County, Pennsylvania, aiming to serve approximately 7,000 additional homes and businesses [1][4]. Company Overview - Glo Fiber provides next-generation FTTH multi-gigabit broadband internet access, live streaming TV, and digital phone service, currently available to over 346,000 homes and businesses [5]. - The company offers symmetrical upload and download speeds of up to 5 gigabits per second (Gbps) through its advanced fiber-optic technology and a regional fiber network spanning 16,800 miles [3][6]. Service Expansion - Construction for the new services in the Dover area is expected to begin later in 2025, following the initial service launch in York County in 2022 [1][4]. - The expansion reflects Glo Fiber's commitment to providing high-speed, reliable internet service and enhancing competitive options for residents and businesses in the area [4]. Customer Service and Technology - Glo Fiber is recognized for its superior local customer service and offers additional services such as phone service, video service, and Whole-Home Wi-Fi [3][7]. - The company utilizes state-of-the-art technology, including XGS-PON 10 Gbps networks, to ensure reliable and high-speed internet access [5].