Shentel(US:SHEN)2020-11-06 16:43Broadband Performance - Broadband data net additions reached 6,069 in Q3 2020 [7] - Glo Fiber one-year penetration in Harrisonburg, VA, reached 16.4%, exceeding initial plans [12] - Shentel increased the target market opportunity for Glo Fiber by 33% to 116,684 target passings with new franchise agreements [12] - Beam launched fixed wireless broadband service in Virginia and purchased CBRS spectrum across 88 counties in 4 states for $16 million [12] - Incumbent cable broadband penetration decreased from 46.2% to 40.0% year-over-year [38] - Glo Fiber broadband penetration increased from 10.1% to 12.5% from Q2 2020 to Q3 2020 [43] Financial Results - Q3 2020 revenue increased to $55.2 million from $51.8 million in Q3 2019, a 6.6% increase [21] - Q3 2020 Adjusted OIBDA increased to $14.6 million from $12.1 million in Q3 2019, a 20.7% increase [21] - Broadband revenue increased from $48.7 million to $50.7 million year-over-year [24] - Tower revenue increased from $3.1 million to $4.5 million year-over-year [27] - YTD 2020 Earnings per Share from continuing operations was $1.53, an 86.7% increase compared to $0.82 in 2019 [10] Sprint/T-Mobile Merger - T-Mobile exercised their option to purchase Shentel's PCS business assets and operations for 90% of Entire Business Value (EBV) [15]