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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 (Nasdaq: SHEN) has partnered with Massanutten Resort to deliver robust voice and internet services through Glo Fiber Enterprise. This initiative includes a customized multi-site network that enhances communications across six locations within the resort. The project aims to improve operational efficiency and advanced customer service, particularly through a sophisticated contact center solution. The collaboration showcases Glo Fiber's expanding reach, benefiting businesses across Virginia and neighboring states.
Shenandoah Telecommunications Company (SHEN) announced the appointment of Dara Leslie as Senior Vice President of Sales & Marketing as of June 20, 2022. With over 20 years in the broadband industry, including 10 years at Comcast, Leslie will spearhead revenue growth for both commercial and residential sectors. Ed McKay, the COO, emphasized her extensive experience as crucial for executing Shentel's fiber-first growth strategy. This leadership change aims to enhance Shentel's marketing and operational effectiveness as the company expands its service footprint.
Shenandoah Telecommunications Company (Nasdaq: SHEN) is expanding its Glo Fiber network to Sussex County, Delaware, bringing internet speeds up to 2 Gbps. The project will serve over 21,000 homes and businesses, marking Glo Fiber's first foray into Delaware. Construction is scheduled to begin in early 2023. The expansion aims to enhance broadband competition and offer residents high-quality services, such as multi-gigabit internet access and streaming TV. Glo Fiber will utilize Shentel's extensive 7,600-mile fiber network to ensure reliable service.
Shenandoah Telecommunications Company (Nasdaq: SHEN) announced plans to expand its Glo Fiber service in South Central Pennsylvania, bringing internet speeds up to 2 Gbps to over 8,300 homes and businesses in Waynesboro, Shippensburg, and Greencastle. Construction is to begin this summer, with the company already having a presence in Hanover and Carlisle. The expansion aims to enhance local infrastructure and provides competitive, reliable fiber-optic internet options.
Shenandoah Telecommunications Company (SHEN) announced the expansion of Glo Fiber's high-speed internet network to six towns in Rockingham County, Virginia. Construction will start in late summer 2022, with services expected to launch by the end of 2022. This project aims to provide internet speeds up to 2 Gbps to over 8,000 homes and businesses by mid-2023. Glo Fiber’s offerings include symmetrical internet access, phone services, and advanced Wi-Fi technologies. Local leaders express excitement about the economic benefits this expansion will bring to their communities.
Shenandoah Telecommunications Company (Nasdaq: SHEN) reported a revenue increase of 7.9% to $64.4 million for Q1 2022 versus Q1 2021, driven by strong growth in the Broadband segment. Net adds for Glo Fiber reached approximately 3,600, contributing to the total homes passed growing to about 94,000. However, the company faced pressures on margins due to escalated operating expenses, resulting in a loss per share of $(0.01) compared to income of $0.06 in the prior year. The company's focus remains on cost-saving initiatives to improve margins in the latter half of 2022.
Shenandoah Telecommunications Company (Nasdaq: SHEN) has announced a significant expansion of its Glo Fiber network into Northern York County, Virginia. Starting in early 2023, the construction aims to provide a 100% fiber-optic network to nearly 5,000 homes and businesses. The service will offer internet speeds up to 2 Gbps, alongside streaming TV and phone services. Glo Fiber emphasizes affordable pricing with no hidden fees. The expansion supports the community's diverse needs, enhancing connectivity for residents and local businesses.
Shenandoah Telecommunications Company (SHEN) will release its Q1 2022 financial results on April 28, 2022, post-market. A conference call is scheduled for April 29, 2022, at 8:00 AM ET, which will be accessible via internet and telephone. The company provides broadband services across the Mid-Atlantic region, with a robust network comprising over 7,600 route miles of fiber and 220 macro cellular towers. Investors can tune in to the call for insights into the company's performance and operational updates.
Glo Fiber, powered by Shenandoah Telecommunications Company (SHEN), has announced an expansion of its fiber-optic network to Lancaster County, Pennsylvania. The project will provide internet speeds of up to 2 Gbps to over 35,000 homes and businesses across areas including Lancaster Township and East Hempfield Township. Construction is set to commence in April 2022 and will span two years. Glo Fiber's offerings include high-speed internet, streaming TV, and digital home phone services using state-of-the-art technology, ensuring reliability and affordability for residents.
Shenandoah Telecommunications Company (SHEN) announced that Ed McKay, COO, will participate in a panel discussion at the New Street Research & BCG Fiber to the Future – Global Infrastructure Conference on March 29, 2022, at 11:50 a.m. ET. Investors can access a live webcast of the panel on Shentel’s website, with a replay available for a limited time post-presentation. With over 7,400 route miles of fiber and 220 macro cellular towers, Shentel offers high-speed broadband services across the Mid-Atlantic region.
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