Core Viewpoint - Shenandoah Telecommunications Company (Shentel) has announced the offering of $567,405,000 in secured fiber network revenue term notes, which will be used to repay existing term loans and for general corporate purposes [1][2]. Group 1: Offering Details - The offering consists of $567,405,000 aggregate principal amount of secured fiber network revenue term notes, with an anticipated repayment date in December 2030 [1]. - The notes will be secured by certain fiber network assets and related customer contracts primarily located in Virginia, Ohio, Pennsylvania, Indiana, and Maryland [1]. Group 2: Use of Proceeds - The net proceeds from the offering will be utilized to repay and terminate existing term loans and for general corporate purposes [2]. Group 3: Regulatory Information - The notes will not be registered under the Securities Act of 1933 and may only be offered to qualified institutional buyers under Rule 144A and outside the United States in compliance with Regulation S [3]. Group 4: Company Overview - Shenandoah Telecommunications Company provides broadband services through high-speed fiber optic and cable networks to residential and commercial customers across eight states in the eastern United States [5]. - The company offers a range of services including broadband internet, video, voice, high-speed Ethernet, dedicated internet access, dark fiber leasing, and managed network services, supported by over 18,000 route miles of fiber [5].

Core Insights - Liberty Latin America reported strong commercial momentum leading to year-over-year revenue growth, with the highest quarterly mobile postpaid additions in three years and a return to positive operating income [2][10][12] - The company achieved a 7% year-over-year rebased growth in Adjusted OIBDA, driven by solid execution on cost reduction and customer base management [2][17] - Strategic initiatives remain a focus, including recovery efforts from Hurricane Melissa and partnerships to enhance communication services [2][4][5] Financial Highlights - Q3 2025 revenue was $1,113 million, a 2% increase from $1,089 million in Q3 2024, while year-to-date revenue decreased by 1% to $3,283 million [6][9] - Operating income for Q3 2025 was $188 million, a significant improvement from a loss of $380 million in Q3 2024 [12] - Adjusted OIBDA for Q3 2025 was $433 million, up 8% from $403 million in Q3 2024, with a margin of 39% [6][16] Segment Performance - Liberty Caribbean reported a 3% revenue growth on both a reported and rebased basis, with residential fixed revenue increasing by 5% [14] - C&W Panama achieved a 6% revenue increase, primarily driven by B2B growth [14] - Liberty Puerto Rico experienced a 3% decline in revenue, attributed to challenges in mobile network migration [14][10] Operational Metrics - Total customers as of Q3 2025 were approximately 1.9 million, with mobile subscribers reaching 6.68 million [8] - Organic postpaid additions were 101,700 in Q3 2025, compared to 25,600 in Q2 2025 [8] - Adjusted Free Cash Flow before distributions to noncontrolling interest owners was $16 million in Q3 2025, down from $77 million in Q3 2024 [6] Capital Expenditures - Property and equipment additions for Q3 2025 totaled $149 million, a decrease of 13% from $171 million in Q3 2024 [6][20] - Capital expenditures, net, were $122 million for Q3 2025, compared to $126 million in Q3 2024 [20] Debt and Liquidity - Total debt and finance lease obligations amounted to $8.36 billion as of September 30, 2025, with a gross leverage ratio of 4.9x [26] - The company had maximum undrawn commitments of $680 million, indicating strong liquidity [38]

Core Points - Liberty Latin America, in partnership with the Liberty Caribbean Foundation, delivered essential humanitarian aid to Jamaica following Hurricane Melissa, including potable water, food, hygiene products, and network restoration equipment [1][2] - The company utilized a chartered aircraft to transport supplies to Kingston, where local teams began immediate distribution to affected communities [2] - Liberty Caribbean Foundation is calling for public and corporate donations to support ongoing relief efforts and long-term recovery programs [2] Company Overview - Liberty Latin America operates in over 20 countries in Latin America and the Caribbean, providing communications and entertainment services, including digital video, broadband internet, and mobile services [3] - The company also offers enterprise-grade connectivity and IT solutions to a diverse range of customers, including small businesses and government agencies [3][7] - Liberty Caribbean, part of Liberty Latin America, delivers broadband, mobile, video, and voice services across the Caribbean under the brands Flow and BTC [6][7] Emergency Response - Liberty Latin America is collaborating with Starlink Direct to Cell to provide emergency connectivity services in Jamaica post-Hurricane Melissa, enabling access to data and communication services [10][11] - The company is committed to supporting Jamaica's recovery efforts and has coordinated with local authorities to ensure effective service delivery [11]

Core Viewpoint - Shenandoah Telecommunications Company (Shentel) will present at the Bank of America 2025 Media, Communications, & Entertainment Conference on September 3, 2025, at 9:40 AM E.T. [1] Company Overview - Shenandoah Telecommunications Company provides broadband services through high-speed fiber optic and cable networks to residential and commercial customers across eight contiguous states in the eastern United States [2] - The company's service offerings include broadband internet, video, voice, high-speed Ethernet, dark fiber leasing, and managed network services [2] - Shentel operates an extensive regional network with over 17,700 route miles of fiber [2]

Core Viewpoint - Shenandoah Telecommunications Company has appointed Angela M. Olsen as Vice President-Legal and General Counsel, bringing over 25 years of legal experience to the company [1][2][3] Company Overview - Shenandoah Telecommunications Company provides broadband services through high-speed fiber optic and cable networks to residential and commercial customers across eight contiguous states in the eastern United States [4] - The company's service offerings include broadband internet, video, voice, high-speed Ethernet, dark fiber leasing, and managed network services [4] - The company operates an extensive regional network with over 17,700 route miles of fiber [4] Leadership and Experience - Angela M. Olsen has previously held significant legal positions, including General Counsel and Corporate Secretary at AquaBounty Technologies, and Senior Advisor and Associate General Counsel at DuPont [2] - Olsen's background includes experience as a trial attorney at the US Department of Justice and in private practice at prominent law firms [2] - The CEO of Shentel, Christopher French, expressed confidence in Olsen's capabilities, highlighting her deep understanding of corporate law and her potential contribution to the company's growth [3]

Core Points - Shenandoah Telecommunications Company (Shentel) has received the 2025 CableFax Top Ops Award for Work Culture, recognizing its commitment to improving employee lives and fostering a connected work environment [1][6] - The company emphasizes core values such as teamwork, integrity, communication, agility, cooperation, mutual trust, and respect, which are integral to its success [2] - Shentel's community engagement initiatives, including the Shentel Cares program, encourage employees to support local charities and make a meaningful impact [2][4] - The company has been recognized for its investment in employee development through various support initiatives, including educational assistance and leadership training [5] - This is the second consecutive year Shentel has won a CableFax Top Ops Award, having previously been recognized in 2024 for its Glo Fiber brand as Fiber Provider of the Year [6] Company Overview - Shenandoah Telecommunications Company provides broadband services through advanced fiber optic and cable networks to residential and commercial customers across eight contiguous states in the eastern United States [7] - The company's service offerings include broadband internet, video, voice, high-speed Ethernet, dark fiber leasing, and managed network services, supported by an extensive regional network of over 17,700 route miles of fiber [7]

Core Viewpoint - Shenandoah Telecommunications Company has appointed Edward H. McKay as the new President and CEO, effective September 1, 2025, while Christopher E. French transitions to Executive Chairman of the Board [1][3]. Group 1: Leadership Transition - Edward H. McKay, currently the Executive Vice President and COO, will take over as President and CEO [2]. - Christopher E. French will remain involved in the company's strategy as Executive Chairman [1][3]. - The Board of Directors unanimously supported McKay's appointment, highlighting his experience and perspective for managing growth [3]. Group 2: Company Background - Shenandoah Telecommunications provides broadband services through advanced fiber optic and cable networks across eight states in the eastern United States [4]. - The company offers a range of services including broadband internet, video, voice, high-speed Ethernet, dark fiber leasing, and managed network services [4]. - Shenandoah Telecommunications has an extensive regional network with over 17,700 route miles of fiber [4].

Core Insights - Shenandoah Telecommunications Company ("Shentel") reported strong growth in its Glo Fiber segment, with revenue increasing by 40.5% year-over-year and an incremental margin of 71% [3][5] - The company achieved $13.8 million in annual run-rate synergies from the Horizon Telcom acquisition, fully realized in the second quarter of 2025 [3][5] - Adjusted EBITDA grew by 21.9% to $28.4 million, with an expanded margin from 27% in Q2 2024 to 32% in Q2 2025 [5][24] Financial Performance - Total revenue for Q2 2025 was $88.6 million, a 3.2% increase from Q2 2024 [5][6] - Glo Fiber Expansion Markets data subscribers increased by 43.1% to approximately 76,000 [5] - Net loss from continuing operations decreased to $9.0 million from $12.8 million in the same quarter last year [5][15] Revenue Breakdown - Glo Fiber Expansion Markets revenue rose by $5.7 million, or 40.5%, to $19.8 million [6] - Residential & SMB - Incumbent Broadband Markets revenue declined by $1.4 million, or 3.2%, due to a 14.5% drop in video RGUs [6] - Commercial Fiber revenue decreased by $1.2 million, or 6.0%, primarily due to a non-cash deferred revenue adjustment [6] Cost Management - Cost of services decreased by $1.9 million, or 5.5%, attributed to lower network payroll and programming costs [6] - Selling, general and administrative expenses fell by $0.5 million, or 1.6%, due to reduced professional fees [6] - Restructuring, integration, and acquisition expenses dropped significantly by $11.1 million, or 98.2%, compared to the previous year [6] Capital Expenditures and Financial Outlook - Capital expenditures for the first half of 2025 were $169.4 million, up from $150.9 million in the same period of 2024 [11] - The company initiated 2025 financial guidance, projecting total revenue between $352 million and $357 million, representing an 8.1% increase from 2024 [8][9] - Adjusted EBITDA guidance for 2025 is set between $113 million and $118 million, indicating a 21.6% growth [9] Operational Statistics - Total broadband homes passed increased by 92,847 to approximately 623,000 [5] - The company owns over 17,700 route miles of fiber, supporting its broadband services [12]

Core Viewpoint - Shenandoah Telecommunications Company (Shentel) is set to release its second quarter 2025 financial results on July 31, 2025, followed by a conference call to discuss the results and business highlights [1]. Financial Results Announcement - The financial results will be released after market close on July 31, 2025 [1]. - A conference call and simultaneous webcast will take place at 4:30 PM Eastern Time on the same day [1]. - Analysts are required to register to dial-in for the call [1]. Company Overview - Shenandoah Telecommunications Company provides broadband services through advanced fiber optic and cable networks to both residential and commercial customers across eight contiguous states in the eastern United States [3]. - The company's service offerings include broadband internet, video, voice, high-speed Ethernet, dark fiber leasing, and managed network services [3]. - Shentel operates an extensive regional network with over 17,200 route miles of fiber [3].

Core Insights - Shenandoah Telecommunications Company ("Shentel") reported strong growth in the first quarter of 2025, with significant increases in subscribers and revenue, particularly in its Glo Fiber Expansion Markets [3][7][8] - The company achieved a 52% revenue growth in Glo Fiber Expansion Markets, contributing to a total revenue increase of 26.9% year-over-year [7][8] - Adjusted EBITDA grew by 43.3% to $27.6 million, with margins improving from 28% to 31% [3][7][23] Financial Performance - Total revenue for Q1 2025 was $87.9 million, up from $69.2 million in Q1 2024, primarily driven by $15.2 million from acquired Horizon markets [8][14] - Glo Fiber Expansion Markets revenue reached $18.4 million, a 52% increase compared to the previous year [7][8] - Net loss from continuing operations was $9.1 million in Q1 2025, compared to a loss of $4.1 million in Q1 2024, attributed to higher depreciation and amortization costs [7][14] Subscriber Growth - The company added 5,400 new subscribers in Glo Fiber Expansion Markets, bringing total subscribers in these markets to approximately 71,000, a 51% increase year-over-year [3][7] - Total broadband homes passed increased by 128,000 to approximately 604,000, with significant growth in both Glo Fiber and Incumbent Broadband Markets [7][26] Capital Expenditures - Capital expenditures for Q1 2025 were $83.2 million, up from $70.1 million in the same period of 2024, reflecting investments in network expansion [6][9] - The increase in capital expenditures was primarily driven by investments in Horizon markets and Glo Fiber network expansion [9][13] Operational Metrics - Adjusted EBITDA margin improved to 31% in Q1 2025 from 28% in Q1 2024, indicating enhanced operational efficiency [23] - The company reported a 46.5% growth in residential and SMB revenue in Glo Fiber Expansion Markets, contributing to overall revenue growth [8][27] Liquidity Position - As of March 31, 2025, Shentel had cash and cash equivalents of $87.5 million and total available liquidity of approximately $334.6 million [13][17]