SHEN
Shenandoah Telecommunications Company11.89
-0.02-0.17%
Dec 16, 4:00:01 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
Details Ohio capex avoidance, M&A pause
Q&A fleshed out Shentel's Ohio market pullback, avoiding ~$1,400 per passing amid 2-3x aerial make-ready cost surges that crushed 15% ROI hurdles, with most as late-stage $1,000 labor. A cable rival just hiked its 5-year guarantee prices; residential cohorts hit 37% penetration in 5-7 years. M&A sidelined until 2027 FCF inflection—pure fiber only afterward. Answers mostly reaffirmed prepared fiber momentum and ARPU dip. Investors eye build completion.
Key Stats
Market Cap
652.74MP/E (TTM)
-Basic EPS (TTM)
-0.72Dividend Yield
0.01%Recent Filings
8-K
Shentel Q4 revenue beats
Shentel reported Q4 2025 total revenue up 7.2% to $91.6M, with Glo Fiber Expansion Markets surging 39.0% to $23.0M; full-year revenue rose 9.1% to $357.9M. Adjusted EBITDA jumped 31.3% to $33.5M in Q4, margin hitting 36.5%, fueled by fiber growth but offset by higher depreciation. Closed $567.4M ABS notes refinancing, slashing interest by over $10M annually. Guides 2026 revenue $370-377M, capex down 21%. Workforce cut 10% saves $12.3M yearly from 2027.
10-K
FY2025 results
Shentel drove FY2025 revenue up 9.1% y/y to $357.9M, fueled by Glo Fiber expansion markets surging 42.7% y/y while incumbent broadband dipped 2.9% y/y on video RGU erosion. Q4 momentum shone through 42.0% y/y data RGU growth in Glo Fiber and passings leaping to 427K from 346K a year prior, yet heavy $359M capex (net of grants) fueled a $23M operating loss amid 33% depreciation spike. ABS securitization closed December with $567M notes at 5.64-6.03% funding network; year-end debt hit $642M but liquidity stood at $235M including $175M RCF drawdown. Glo Fiber accelerated. Intensifying FTTH overbuilds threaten subscriber gains.
8-K
Two directors exit board
8-K
Shentel refinances $585M debt
Shentel closed its inaugural $567.4M secured fiber network revenue notes at 5.64%-6.03% due 2030, plus $175M variable funding notes and $175M revolving facility, refinancing $585.4M prior debt. Net proceeds repaid existing term and revolving borrowings under terminated 2021 credit agreement. Deal extends maturities to 2030 while slashing debt costs ~170bps.
8-K
Shentel prices $567M fiber notes
Shentel priced $567.4M inaugural fiber network revenue notes at 5.69% weighted average coupon, secured by assets in Virginia, Ohio, Pennsylvania, Indiana, and Maryland, with repayment due December 2030. Closing set for December 5, 2025. Proceeds will repay existing term loans. Notes offered privately to qualified buyers.
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