Shenandoah Telecommunications Co
NASDAQ:SHEN
Shenandoah Telecommunications Co
Shenandoah Telecommunications Co. operates as a holding company, which engages in the provision of regulated and unregulated telecommunication services to end-user customers and other telecommunications providers. The company is headquartered in Edinburg, Virginia and currently employs 860 full-time employees. Its segments include Broadband and Tower. The Broadband segment provides broadband Internet, video and voice services to residential and commercial customers in portions of Virginia, West Virginia, Maryland, Pennsylvania, and Kentucky, through fiber optic services under the brand name of Glo Fiber, hybrid fiber coaxial cable under the brand name of Shentel, and fixed wireless network services under the brand name of Beam. The Broadband segment also leases dark fiber and provides ethernet and wavelength fiber optic services to enterprise and wholesale customers throughout the entirety of its service area. The Tower segment owns over 220 macro cell towers and leases colocation space on the towers to wireless communications providers. Its towers are built on ground that it leases from its respective landlords.
Shenandoah Telecommunications Co. operates as a holding company, which engages in the provision of regulated and unregulated telecommunication services to end-user customers and other telecommunications providers. The company is headquartered in Edinburg, Virginia and currently employs 860 full-time employees. Its segments include Broadband and Tower. The Broadband segment provides broadband Internet, video and voice services to residential and commercial customers in portions of Virginia, West Virginia, Maryland, Pennsylvania, and Kentucky, through fiber optic services under the brand name of Glo Fiber, hybrid fiber coaxial cable under the brand name of Shentel, and fixed wireless network services under the brand name of Beam. The Broadband segment also leases dark fiber and provides ethernet and wavelength fiber optic services to enterprise and wholesale customers throughout the entirety of its service area. The Tower segment owns over 220 macro cell towers and leases colocation space on the towers to wireless communications providers. Its towers are built on ground that it leases from its respective landlords.
Revenue Growth: Fourth quarter revenue rose 7.2% to $91.6 million, driven by strong performance in Glo Fiber and Commercial Fiber segments.
Fiber Expansion: Fiber-based revenue surpassed incumbent broadband for the first time, with Glo Fiber passings reaching 427,000 and RGUs up 35% to 88,000.
Profitability: Adjusted EBITDA jumped 31.3% to $33.5 million, with margin expanding 670 basis points to 36.5%.
Cost Savings: A 10% workforce reduction is expected to generate $12.3 million in annual savings starting in 2027.
Guidance: 2026 revenue is guided to $370–$377 million and adjusted EBITDA to $131–$136 million, both indicating continued growth.
CapEx Decline: Net capital expenditures are projected to drop about 21% in 2026 to $220–$250 million as the expansion phase winds down.
Debt Refinancing: Recent ABS refinancing will lower interest costs by 172 basis points, saving $11 million annually.
