Shentel Q3 revenue up 30% to $87.6M; net loss widens to $5.3M; Glo Fiber adds 6k subs

SHENANDOAH TELECOMMUNICATIONS CO/VA/

2024-Q3 EPS reported $3.65 revenue$242,646,000

Revenue grew $20.2M YoY to $87.6M, driven by Horizon acquisition ($16.9M) and Glo Fiber expansion.
Net loss from continuing ops $5.3M vs $0.2M loss in Q3 2023; higher D&A and interest expense.
Adjusted EBITDA increased 31% to $26.6M; margin improved sequentially to 30% from 27%.
Glo Fiber added ~6k subs in quarter; total Glo Fiber subs ~59k; passings ~320k.
Horizon integration ahead of schedule; now expects $11M in annual synergy savings.

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