Shentel Q1 net loss from continuing ops $4.1M; closes Tower sale, Horizon acquisition

SHENANDOAH TELECOMMUNICATIONS CO/VA/

2024-Q1 EPS reported $4.21 revenue$69,248,000

Revenue grew 3.1% to $69.2M; net loss from continuing ops $4.1M vs income $0.7M YoY.
Adjusted EBITDA $19.3M, consistent with Q1 2023; Glo Fiber added 5,000 subs, passings up 25,700.
Completed $309.9M tower sale to Vertical Bridge on March 29, 2024; gain drives discontinued ops income $218.8M.
On April 1, closed $385M Horizon acquisition ($305M cash + 4.1M shares); amended credit facility to $675M.
Issued $81M of 7% perpetual preferred stock; pro forma debt net of cash ~$190M; liquidity ~$484M.

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 0.95

SHENANDOAH TELECOMMUNICATIONS CO/VA/ reported first quarter 2024 results: net income Net loss from continuing operations was $4.1 million in the first quarter of 2024.

Period: first quarter 2024
Net income: Net loss from continuing operations was $4.1 million in the first quarter of 2024
Result: reported results

Exact text from the filing

Revenue grew 3.1% to $69.2 million compared to the first quarter of 2023.

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

SHENANDOAH TELECOMMUNICATIONS CO/VA/ reported first quarter 2024 results: net income Net loss from continuing operations was $4.1 million in the first quarter of 2024.

Period: first quarter 2024
Net income: Net loss from continuing operations was $4.1 million in the first quarter of 2024
Result: reported results

Exact text from the filing

Net loss from continuing operations was $4.1 million in the first quarter of 2024 compared with net income from continuing operations of $0.7 million in the first quarter of 2023 due primarily to higher interest expense.

View on SEC.gov

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Source: SEC EDGAR

accession 0001171843-24-002508

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