Shenandoah Telecommunications ( (SHEN) ) has released its Q1 earnings. Here is a breakdown of the information Shenandoah Telecommunications presented to its investors.
Shenandoah Telecommunications Company, commonly known as Shentel, is a provider of broadband services through its advanced fiber optic and cable networks, serving residential and commercial customers across eight states in the eastern United States. The company offers a range of services including internet, video, voice, and managed network services, supported by an extensive regional network of over 17,200 route miles of fiber.
In the first quarter of 2025, Shentel reported a significant increase in total revenue, reaching $87.9 million, marking a 26.9% growth compared to the same period in 2024. This growth was primarily driven by the expansion of the Glo Fiber markets and the acquisition of Horizon markets. Despite this revenue growth, the company reported a net loss from continuing operations of $9.1 million, attributed mainly to increased depreciation and amortization costs from network expansions.
Key financial highlights include a 51% increase in Glo Fiber data subscribers, contributing to a 52% rise in revenue from these markets. Adjusted EBITDA also saw a notable increase of 43.3% to $27.6 million, reflecting strong performance in the company’s legacy markets. However, the incumbent broadband markets experienced a revenue decline due to decreased video and data revenues.
Looking forward, Shentel remains focused on its strategic growth through the continued expansion of its Glo Fiber network and leveraging synergies from the Horizon acquisition. The management is optimistic about sustaining revenue growth and improving operational efficiencies, despite the challenges posed by increased operational costs.