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Shenandoah Telecommunications Company (Shentel) has been a cornerstone in the telecommunications industry since 1902. From its humble beginnings as a small phone company in Virginia’s northern Shenandoah Valley, Shentel has evolved into a major provider of advanced broadband services, digital TV, high-speed internet, and phone services across Virginia, West Virginia, and Maryland.
Shentel operates through two main business segments: tower and broadband. The tower segment is responsible for leasing company-owned cell tower spaces to other wireless communication providers, while the broadband segment offers broadband Internet, video, and voice services to residential and commercial clients. Notably, the broadband segment drives the majority of Shentel's revenue, with significant contributions from residential and small to medium-sized businesses.
In recent developments, Shentel has strategically positioned itself for growth. The company has announced the sale of its tower business, which will provide additional growth capital to expand its Glo Fiber line of business. The planned expansion aims to reach approximately 600,000 homes and businesses by the end of 2026. Furthermore, Shentel has secured $356 million in committed financing to support its acquisition of Horizon Telcom. This acquisition will bolster Shentel's fiber optic network by adding approximately 5,500 route miles of fiber.
Shentel has a regional network that encompasses around 15,400 route miles of fiber and 219 macro cellular towers. The company's services include broadband internet, video, voice, fiber optic Ethernet, wavelength leasing, and tower colocation leasing. Recent expansions include a franchise agreement to deploy next-generation fiber-to-the-home (FTTH) broadband services to Frederick County, Maryland, targeting over 40,000 homes and businesses. The company prides itself on providing high speeds, low latency, and unmatched reliability through its FTTH connections.
Shentel's subsidiary, Glo Fiber, offers multi-gigabit broadband internet, live streaming TV, and digital phone services. Glo Fiber's network is built on state-of-the-art technology, providing symmetrical upload and download speeds of up to 5 gigabits per second (Gbps). Their services have earned a reputation for superior local customer service across multiple states.
Financially, Shentel uses Adjusted EBITDA as a key performance metric to evaluate operational effectiveness. This non-GAAP measure helps in period-to-period comparisons by excluding items that are not comparable across reporting periods. The sale proceeds from the tower business and Horizon acquisition are expected to provide Shentel with financial flexibility for future growth.
Overall, Shentel's commitment to serving rural and underserved markets with advanced communication services underscores its mission to ensure these communities receive the same level of service as larger metropolitan areas. For more information, visit www.shentel.com.
Shenandoah Telecommunications (SHEN) reported its Q4 and full-year 2024 results, highlighting significant growth in its Glo Fiber segment. Revenue increased 21.9% to $328.1 million in 2024, primarily driven by $47.7 million from newly acquired Horizon markets. Glo Fiber Expansion Markets saw impressive growth with data customers up 56% year-over-year to over 65,000, and passings increased 48% to approximately 346,000.
However, the company reported a loss from continuing operations of $28.4 million in 2024 compared to income of $1.0 million in 2023, mainly due to higher depreciation, amortization, and interest expenses. Adjusted EBITDA increased 19.7% to $94.6 million. The integration of Horizon Telcom was completed in Q4, with expected annual synergy savings of $13.8 million by Q2 2025.
Shenandoah Telecommunications Company (SHEN) has expanded its high-speed gigabit internet service to approximately 5,000 additional homes in Shenandoah County, with plans to add over 2,000 more by year-end. The $47 million construction project is partially funded through Virginia's Telecommunication Initiative (VATI), alongside Shentel's capital investment and Shenandoah County's contribution.
The expansion focuses on bringing broadband infrastructure to rural areas, including Fort Valley, to enhance education, economic growth, and healthcare opportunities. The project addresses challenges of higher costs in rural areas due to lower population density and extensive distances between homes. Shentel offers fast internet with exceptional reliability, straightforward pricing without long-term contracts, local customer service, and various video and voice service options.
Shenandoah Telecommunications Company (Shentel) (NASDAQ:SHEN) will release its fourth quarter and full year 2024 financial results before the market opens on Thursday, February 20, 2025. The company will host a conference call and simultaneous webcast on the same day at 8:30 a.m. Eastern Time to discuss the financial results and business highlights.
Interested parties can listen to the webcast via the Internet at this link. Analysts are required to register to dial-in through a provided link. A replay of the call will be available for a time on the Investor Relations page of the company’s website.
Glo Fiber, powered by Shenandoah Telecommunications Company (SHEN), has opened a new retail store in Suffolk, Virginia, expanding its presence in the region. The company currently serves over 17,000 homes and businesses in Suffolk, with plans to extend coverage to 8,000 additional locations by year-end.
The company offers symmetrical upload and download speeds of up to 5 gigabits per second through its fiber-to-the-home technology and 16,300-mile regional fiber network. Glo Fiber's service is available across Virginia, West Virginia, Maryland, Pennsylvania, Ohio, and Delaware, featuring no long-term contracts and local customer service.
Glo Fiber, powered by Shenandoah Telecommunications Company (SHEN), has announced plans to expand its fiber-to-the-home (FTTH) broadband services to Berryville, Virginia. The expansion will serve approximately 1,800 homes and businesses, with construction scheduled to begin in summer 2025.
The company will provide symmetrical upload and download speeds of up to 5 gigabits per second (Gbps) through its 16,000-mile regional fiber network. The service offers high-speed internet, phone service, video service, and Whole Home Wi-Fi solutions. Key features include exceptional reliability, no long-term contracts, and local customer service.
This expansion represents Glo Fiber's continued growth across Virginia, West Virginia, Maryland, Pennsylvania, Ohio, and Delaware, focusing on bringing high-speed fiber service to rural communities.
Glo Fiber, powered by Shenandoah Telecommunications Company (SHEN), is expanding its fiber optic broadband service in Lancaster, Ohio. The network currently serves over 4,000 homes and businesses, with plans to reach approximately 10,000 additional locations by the second half of 2025. Construction began in summer 2024.
The service offers symmetrical upload and download speeds up to 5 gigabits per second (Gbps), leveraging Shentel's 16,000-mile regional fiber network. Glo Fiber's offering includes internet, phone service, video service, and Whole Home Wi-Fi, with no long-term contracts required. The company operates across multiple states including Ohio, Pennsylvania, Virginia, West Virginia, Maryland, and Delaware.
Shenandoah Telecommunications (SHEN) reported Q3 2024 results with revenue growing 30% to $87.6 million, primarily driven by the Horizon acquisition contributing $16.9 million. Glo Fiber added approximately 6,000 subscribers, reaching over 59,000 total subscribers, with passings growing by 22,000 to 320,000. The company reported a net loss of $5.3 million, mainly due to higher depreciation and interest expenses. Adjusted EBITDA increased 31.3% to $26.6 million, with margins improving from 27% to 30% sequentially. The Horizon integration is ahead of schedule with expected annual synergy savings of $11 million.
Shenandoah Telecommunications Company (SHEN) has scheduled its third quarter 2024 earnings call for Thursday, November 7, 2024, at 8:00 a.m. Eastern Time. The company will release its financial results before market opening on the same day. The earnings discussion will include financial results and business highlights. Investors can access the call through the company's investor relations website, while analysts need to register separately for dial-in access. A replay of the call will be available on the company's website for a time.
Shenandoah Telecommunications Company (SHEN) has declared a cash dividend of $0.10 per share, payable on December 2, 2024, to shareholders of record as of November 5, 2024. This represents an 11.1% increase ($0.01 per share) compared to the December 2023 dividend. The announcement marks Shentel's sixty-fifth consecutive year of annual dividends, reflecting the company's confidence in its Glo Fiber expansion plans.
Glo Fiber, powered by Shenandoah Telecommunications Company (Nasdaq: SHEN), has begun construction to deploy fiber-to-the-home broadband services in Frederick County, MD. The company has been awarded multiple grants from the Maryland Office of Statewide Broadband to deliver a 100% fiber network to over 4,500 unserved locations in the county. Glo Fiber offers symmetrical upload and download speeds of up to 5 Gbps, leveraging Shentel's 16,000-mile regional fiber network.
The expansion includes rural areas of Frederick County, with services already launched in the City of Frederick. Glo Fiber's offerings include high-speed internet, phone service, video service, and Whole Home Wi-Fi. The company emphasizes its superior local customer service and straightforward pricing with no long-term contracts.
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