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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.
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.
Glo Fiber, operated by Shenandoah Telecommunications Company (SHEN), has announced plans to expand its fiber-optic broadband services to approximately 15,000 homes and businesses in Steubenville, Mingo Junction, Wintersville, and surrounding areas in Jefferson County, Ohio. The company offers symmetrical upload and download speeds of up to 5 gigabits per second (Gbps), leveraging its 16,000-mile regional fiber network.
Glo Fiber's services include high-speed internet, phone service, video service, and Whole Home Wi-Fi. The expansion is part of Glo Fiber's strategy to provide fast, reliable broadband and quality customer service in smaller cities, towns, and rural areas. The company currently serves approximately 300,000 homes and businesses and is continuing its expansion in Ohio.
Glo Fiber, powered by Shenandoah Telecommunications Company (SHEN), has been named the Fiber Provider of the Year in Cablefax's 2024 Top Ops Awards. This recognition highlights Glo Fiber's commitment to delivering high-performance fiber internet services to approximately 300,000 homes across 6 states. The award acknowledges excellence in customer service, innovation, and operational efficiency in the cable and telecommunications industry.
Glo Fiber's key differentiators include:
- Fiber-to-the-home technology with exceptional reliability
- Symmetrical download and upload speeds up to 5 Gbps
- Easy, straight-forward pricing
- Prompt, local customer service
Shentel's COO, Ed McKay, expressed pride in the recognition and reaffirmed the company's commitment to expanding its fiber network and delivering high-speed, reliable internet to more communities.
Shenandoah Telecommunications Company (Nasdaq: SHEN) reported its Q2 2024 results, highlighting the completion of the Horizon acquisition for $385 million. Revenue grew 28.7% to $85.8 million, with Horizon contributing $16.7 million. Glo Fiber Expansion Markets added 5,000 subscribers, reaching 53,000 total. However, the company reported a net loss of $12.8 million, primarily due to integration and acquisition expenses. Adjusted EBITDA increased by 19.7% to $23.3 million. Capital expenditures rose to $150.9 million for the first half of 2024. The company also issued $81 million in Preferred Stock and upsized its credit facility by $275 million to support growth initiatives.
Shenandoah Telecommunications Company (Shentel) (NASDAQ:SHEN) has appointed Michael A. Rhymes to its board of directors and Audit Committee on July 30, 2024. Rhymes, currently the Chief Information Officer at Entergy (NYSE: ETR), brings extensive experience in information technology, strategic planning, and business transformation.
Prior to Entergy, Rhymes held leadership positions at Gates , Eaton, Cooper Industries, Ernst & Young, and Accenture. He holds a Bachelor of Science in Economics and an MBA from Texas A&M University. Shentel's Chairman and CEO, Christopher E. French, expressed enthusiasm about Rhymes' appointment, highlighting his expertise in technology, cybersecurity, and organizational development in regulated industries.
Glo Fiber, operated by Shenandoah Telecommunications Company (NASDAQ: SHEN), has announced plans to expand its fiber-optic broadband services to approximately 13,800 homes and businesses in Zanesville, Ohio. The company offers symmetrical upload and download speeds of up to 5 gigabits per second (Gbps) through its fiber-to-the-home technology and 15,600-mile regional fiber network.
Glo Fiber's expansion in Ohio is part of its rapid growth, now passing over 275,000 homes and businesses with its fiber-optic networks. The company emphasizes superior local customer service, high-speed internet reliability, and additional services such as phone, video, and Whole Home Wi-Fi. Key differentiators include exceptional network reliability, symmetrical speeds, straightforward pricing without long-term contracts, and prompt local customer service.
Shenandoah Telecommunications Company (Shentel) NASDAQ:SHEN has announced its upcoming second quarter 2024 earnings call, scheduled for Wednesday, August 7, 2024, at 8:30 a.m. Eastern Time. The company will release its financial results before the market opens on the same day. Investors and analysts can access the conference call and simultaneous webcast to discuss Shentel's financial performance and business highlights.
The earnings call can be accessed via the company's Investor Relations page at https://investor.shentel.com/. Analysts are required to register separately to dial in. A replay of the call will be available for a time on the company's website for those unable to attend the live event.
Glo Fiber, powered by Shenandoah Telecommunications Company (Shentel) (Nasdaq: SHEN), announced the deployment of next-generation fiber-optic broadband services in Greenfield, Ohio, serving approximately 2,500 homes and businesses. The service offers symmetrical upload and download speeds up to 5 Gbps, leveraging fiber-to-the-home technology and Shentel's extensive 15,600-mile regional fiber network. Glo Fiber's expansion aims to deliver high speed, low latency, and reliable internet, alongside phone, video services, and Whole Home WiFi. The company has expanded rapidly, now passing over 275,000 homes and businesses. Glo Fiber emphasizes outstanding customer service and exceptional network reliability, distinguishing itself from competitors with no long-term contracts and straightforward pricing.
Glo Fiber, powered by Shenandoah Telecommunications Company (Nasdaq: SHEN), has announced an agreement to expand its fiber network to Spring Township in Centre County, Pennsylvania. This expansion aims to provide high-speed internet of up to 5 Gbps to around 3,000 homes and businesses. Leveraging Shentel's 15,600-mile regional fiber network, Glo Fiber offers symmetrical upload and download speeds with low latency and high reliability. This initiative marks Glo Fiber's commitment to serving rural areas with competitive telecommunication options, emphasizing its superior local customer service and straightforward pricing without long-term contracts.
Shenandoah Telecommunications Company (Shentel) reported its first quarter 2024 financial results, with revenue growing by 3.1% to $69.2 million. The Tower segment's financial results were presented as discontinued operations. Glo Fiber Markets added 5,000 subscribers and ended the quarter with 47,000 subscribers. The Tower Portfolio was sold for $309.9 million in cash. Net loss from continuing operations was $4.1 million due to higher interest expense. Glo Fiber Markets revenue grew by 73.0% to $12.1 million. Shentel completed the sale of its tower portfolio and made significant acquisitions to fuel organic growth.
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