Shentel Q1 revenue up 11.3% to $71.7M, net income $2.1M vs loss YoY; Glo Fiber adds surge

SHENANDOAH TELECOMMUNICATIONS CO/VA/

2023-Q1 EPS reported $0.04 revenue$71,686,000

Revenue $71.7M (+11.3% YoY); net income $2.1M vs net loss $0.6M in Q1 2022; EPS $0.04 vs ($0.01).
Broadband segment revenue $67.2M (+12.5%); Glo Fiber Markets revenue $7.0M (+104.7%).
Consolidated Adjusted EBITDA $22.4M (+28.6%); Broadband Adjusted EBITDA $26.3M (+25.0%).
Glo Fiber data net additions 4,507 (+87.3% YoY); total passings 165,058 (+71,447 YoY).
T-Mobile disconnected 188 backhaul circuits in Q1; expects 174 more disconnects in 2023.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

SHENANDOAH TELECOMMUNICATIONS CO/VA/ reported first quarter 2023 results: revenue $71.7 million, net income $2.1 million.

Period: first quarter 2023
Revenue: $71.7 million
Net income: $2.1 million
Result: reported results

Exact text from the filing

First Quarter 2023 Highlights Glo Fiber Markets data net additions were 4,507 or 87.3% higher than the first quarter of 2022. Consolidated revenue grew 11.3% to $71.7 million compared to the first quarter of 2022. Glo Fiber Markets revenue grew 104.7% to $7.0 million and Broadband revenue grew 12.5% to $67.2 million over the same period. Consolidated net income was $2.1 million in the first quarter of 2023, compared with net loss of $0.6 million in the first quarter of 2022. Consolidated Adjusted EBITDA grew 28.6% to $22.4 million compared to the first quarter of 2022. Broadband Adjusted EBITDA grew 25.0% to $26.3 million over the same period.

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Source: SEC EDGAR

accession 0001171843-23-002665

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