The following is a summary of the Shenandoah Telecommunications Company (SHEN) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Shenandoah Telecommunications reported a 3.1% increase in Q1 2024 revenue, reaching $69.3 million.

• The company experienced considerable growth in the residential and SMB sector, with revenue growth at approximately 9.1%.

• Adjusted EBITDA for Q1 2024 remained flat compared to the same period in the previous year, at $19.3 million.

• Following the acquisition of Horizon Telecom, Shenandoah's pro forma liquidity position stood at $484 million as of April 1st, 2024.

• Horizon is predicted to generate between $50 million to $54 million in revenue and $12 million to $16 million in adjusted EBITDA for the duration of 2024.

Business Progress:

• Shenandoah Telecommunications completed the sale of its towers for a sum of $310 million during Q1.

• The company finalized a $356 million financing deal, resulting in an increment of $275 million in credit facility capacity and $81 million in preferred equity.

• The acquisition of Horizon Telecom cost $385 million, a move expected to double the commercial fiber business size and enhance Glo Fiber expansion markets.

• Shentel successfully acquired over 5,000 new customers in Q1, setting a new quarterly record.

• Shenandoah plans to expand its Glo Fiber market reach to 600,000 by the end of 2026.

More details: Shenandoah Telecommunications Co IR

Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.