Shenandoah Telecommunications ( (SHEN) ) has released its Q3 earnings. Here is a breakdown of the information Shenandoah Telecommunications presented to its investors.
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Shenandoah Telecommunications Company, commonly known as Shentel, is a provider of broadband services through its extensive fiber optic and cable networks, catering to residential and commercial customers across eight states in the eastern United States.
In its third-quarter 2024 report, Shentel announced significant growth in its Glo Fiber Expansion Markets, adding approximately 6,000 new subscribers and achieving a revenue increase of 62% compared to the same period last year. The company also made notable progress in integrating its recent acquisition, Horizon, which contributed substantially to its overall financial performance.
Key metrics revealed a revenue growth of $20.2 million, driven primarily by the Horizon acquisition and the Glo Fiber Expansion. The company’s Adjusted EBITDA rose by 31.3%, reaching $26.6 million, with adjusted EBITDA margins improving to 30%. Despite these positive strides, Shentel reported a net loss from continuing operations of $5.3 million, attributed mainly to increased depreciation, amortization, and interest expenses.
The company continues to invest heavily in its infrastructure, with capital expenditures reaching $226.5 million for the first nine months of 2024. Shentel’s management remains optimistic, expecting the ongoing Glo Fiber expansion and Horizon synergies to act as growth catalysts and drive margin improvements in the coming year.
Looking forward, Shentel anticipates further growth and development as it completes the integration of Horizon and continues to leverage its fiber network expansion to enhance service offerings and market reach.
