Shentel Q2 revenue up 8.8% to $66M; net loss $3.2M on Beam impairment

SHENANDOAH TELECOMMUNICATIONS CO/VA/

2022-Q2 EPS reported -$0.08 revenue$130,435,000

Net loss from continuing ops $3.2M vs income $1.6M YoY; adjusted EBITDA up 16.4% to $18.6M.
Glo Fiber data net adds ~3,300 (up 103% YoY); passings grew 20% sequentially to ~113,000.
Recorded $4.5M in impairment/restructuring charges from decommissioning 20 Beam fixed wireless sites.
Total liquidity of $433.3M; expects to draw remaining $275M term loans by June 2023.
Broadband revenue up 9.2% to $61.4M; tower revenue flat at $2.9M EBITDA.

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