Shenandoah Telecommunications Q3 revenue rises 4.6% on fiber growth

Overview

• US broadband provider's Q3 revenue rose 4.6% yr/yr, driven by Glo Fiber expansion

• Adjusted EBITDA for Q3 grew 11.8% yr/yr as fiber revenue rose nearly 20%

• Company previously announced 10% workforce reduction as fiber construction nears completion

Outlook

• Company maintains 2026 revenue guidance at $370 mln to $377 mln

• Shenandoah Telecom keeps 2026 adjusted EBITDA outlook at $131 mln to $136 mln

• Company raises 2026 capital expenditure guidance to $255 mln-$275 mln from $220 mln-$250 mln

Result Drivers

• GLO FIBER EXPANSION - Co said 32.2% yr/yr revenue growth in Glo Fiber Expansion Markets was driven by higher penetration rates and increased passings

• INCUMBENT BROADBAND DECLINE - Co said revenue in Incumbent Broadband Markets fell 6.8% yr/yr due to lower video and data revenue, with video RGUs down 13% as customers switched to streaming

• COMMERCIAL FIBER GROWTH - Co said Commercial Fiber revenue rose 5.9% yr/yr due to increases in recurring revenue from additional circuit services sold to new and existing customers

Company press release:

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the integrated telecommunications services peer group is "buy"

• Wall Street's median 12-month price target for Shenandoah Telecommunications Co is $27.50, about 174.2% above its October 27 closing price of $10.03

Reuters Recommended Reads

• Oct 26 - Verizon Q3 profit beats; raises 2026 postpaid phone net adds forecast

• Oct 28 - Norway's Telenor Q3 service revenue rises, maintains 2026 forecast

• Oct 28 - Netherlands' KPN Q3 group service revenue rises; reiterates 2026 outlook

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)