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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 Company (SHEN) announced the expansion of Glo Fiber's all-fiber, multi-gigabit broadband network in Martinsburg, WV, starting November 2021. This service will reach approximately 7,000 homes and businesses, offering high-speed internet, streaming TV, and digital phone services. Glo Fiber utilizes Shentel's 7,000-mile fiber network to ensure reliable connectivity and superior customer service. The local community, represented by Mayor Kevin Knowles, welcomes this investment as essential for growth.
Glo Fiber, part of Shenandoah Telecommunications Company (SHEN), has initiated construction for its all-fiber network in Hanover, PA.
Service is anticipated to launch by late October 2021, offering multi-gigabit broadband to over 6,000 homes and businesses.
The network promises high-speed internet, streaming TV, and digital phone services. Glo Fiber's pricing is all-inclusive, ensuring no hidden fees. This expansion aims to meet the growing demand for reliable internet in the community, aligning with Shentel's vision of providing superior local service.
Shenandoah Telecommunications Company (Nasdaq: SHEN) announced a significant expansion of its Beam fixed wireless broadband service to Buckingham and Greene Counties, benefitting over 1,000 households. This move is part of a broader rollout, providing service to over 22,000 households this year. Beam delivers high-speed internet with download speeds up to 100 Mbps at starting prices of $60 per month. The service utilizes licensed mid-band spectrum and 5G-ready technology to connect rural areas, addressing the increasing demand for reliable internet.
Glo Fiber, powered by Shenandoah Telecommunications Company (Nasdaq: SHEN), announced an agreement to expand its fiber-to-the-home (FTTH) network in Suffolk, VA. Starting in 2022, this initiative aims to deliver high-speed, multi-gigabit internet access to over 30,000 homes and businesses, enhancing local broadband infrastructure. The project underscores Glo Fiber's commitment to reliable, affordable internet services using Shentel's extensive 7,000-mile fiber network. Local officials express support, recognizing the competitive benefits for residents and businesses alike.
Glo Fiber, part of Shenandoah Telecommunications Company (SHEN), plans to build a fiber network in Carlisle, PA, launching services in Q4 2021. The initiative aims to provide high-speed internet, streaming TV, and digital phone services to over 7,000 homes and businesses, leveraging Shentel's extensive 7,000-mile fiber network. Glo Fiber offers multi-gigabit symmetrical internet with no hidden fees, emphasizing local customer service. This expansion reflects Shentel's commitment to enhancing internet access in smaller communities in the Mid-Atlantic region.
On August 24, 2021, Shenandoah Telecommunications Company (SHEN) announced the expansion of its Glo Fiber network into Frederick County, VA, aimed at both residential and business customers. This expansion will connect approximately 14,000 additional homes and businesses, enhancing internet services in areas like Winchester and Stephens City. Glo Fiber, established in 2019, offers high-speed fiber-to-the-home services leveraging a 7,000-mile fiber network. The construction is expected to complete in 2022, aligning with Shentel's mission to improve internet access in rural communities.
Shenandoah Telecommunications Company (Shentel) (Nasdaq: SHEN) is expanding its high-speed Internet service, Beam, to rural areas in Barbour, Orange, and Page Counties. This initiative will enhance Internet access for over 1,600 households, contributing to the total of 22,000 households served this year. Beam offers download speeds up to 100 Mbps starting at $60 per month, without hidden fees. With a focus on underserved communities, Shentel leverages advanced LTE technology and local infrastructure to deliver reliable service.
Shenandoah Telecommunications Company (Nasdaq: SHEN) reported robust second-quarter 2021 results with revenue growth of 11.7% to $60.7 million and Adjusted OIBDA growing 29.6% to $16.3 million. The company completed the sale of its Wireless assets to T-Mobile for $1.94 billion, allowing for a special dividend of $18.75 per share, totaling approximately $937 million. Broadband RGUs increased 20.3% year over year, and operational adjustments led to a significant decrease in corporate expenses. The company maintains its favorable outlook for the remainder of 2021.
Shenandoah Telecommunications Company (SHEN) will announce its second quarter 2021 financial results on July 29, 2021, after market close. A conference call will follow at 8:00 AM ET on July 30, 2021, allowing investors to gain insights into the company's performance. The webcast can be accessed online, and a telephonic replay will be available shortly after the call concludes. Shentel provides advanced broadband services, including internet, video, voice, and fiber optic solutions, supported by over 7,000 route miles of fiber and 223 cellular towers.
Shentel (Nasdaq: SHEN) has partnered with York College of Pennsylvania to enhance internet and voice services across its three campuses, benefiting approximately 5,000 students and faculty. This collaboration aims to address bandwidth challenges and ensure reliable connectivity during remote learning, especially crucial amid the ongoing COVID-19 pandemic. Polling indicates that nearly 60% of college students struggle with stable internet access. The partnership represents Shentel's continued commitment to providing advanced communication solutions tailored for higher education institutions.
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