Shentel reports 2023 net income $8.0M, rev $287.4M (+7.5%); Glo Fiber customers +71.7%

SHENANDOAH TELECOMMUNICATIONS CO/VA/

2023-FY EPS reported $0.16 revenue$287,379,000

Consolidated net income $8.0M vs net loss $8.4M in 2022; revenue $287.4M (+7.5%).
Glo Fiber data customers grew 71.7% to ~42,000; passings up 58.6% to ~234,000; revenue $35.1M (+91.9%).
Broadband Adjusted EBITDA $105.8M (+17.6%); consolidated Adjusted EBITDA $90.6M (+19.3%).
Tower segment flat: 219 macro towers, 453 tenants; revenue $18.6M (-1.5%).
Announced agreement in Oct 2023 to acquire 100% of Horizon Acquisition Parent LLC.

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