Shentel reports Q1 revenue up 7.9% to $64.4M, but EPS turns to $(0.01) loss

SHENANDOAH TELECOMMUNICATIONS CO/VA/

2022-Q1 EPS reported -$0.01 revenue$64,414,000

Revenue $64.4M (+7.9% YoY); loss from continuing ops of $(0.01)/share vs income $0.06 in Q1 2021.
Broadband revenue grew 8.3% to $59.7M but operating income fell to $8.2M from $10.3M; Adj EBITDA down 5.4%.
Glo Fiber added 2,400 net adds; passings grew to ~94,000, up 18,000 sequentially from Q4 2021.
Tower revenue +3.9% to $4.8M, tenants up 5.6% to 468; Adj EBITDA flat at $3.2M.
Capex $45.7M (up $6.2M YoY) mostly for Glo Fiber expansion; cash + revolver availability $454M.

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