Shentel Reports Q3 2026 Results: Fiber Revenue Grows 32.2%

Shenandoah Telecommunications Company (Shentel) announced its financial results for the third quarter of 2026 on October 28, 2026. The company reported total revenue of $93.9 million for the three months ended September 30, 2026, a 4.6% increase compared to the same period in 2025. Net loss attributable to common shareholders was $10.8 million for the quarter, compared to a loss of $10.9 million in the prior year.

Shentel highlighted growth in its Glo Fiber Expansion Markets, where revenue increased 32.2% year over year to $28.2 million. This segment now represents 30.0% of total revenue. The company noted that fiber revenue grew nearly 20% and now accounts for 52% of total revenue. Adjusted EBITDA for the quarter increased 11.8% year over year to $33.2 million.

Conversely, revenue in the Incumbent Broadband Markets decreased 6.8% to $39.1 million. This decline was attributed to lower video and data revenue, driven by a 13.0% decrease in video RGUs as customers switched to streaming services and a 3.0% decline in data ARPU.

Regarding capital expenditures, Shentel spent $215.0 million on capital expenditures for the nine months ended September 30, 2026. This represents a decrease of $36.5 million compared to the same period in 2025. The company reported total available liquidity of $138.6 million as of September 30, 2026, which includes unrestricted cash and cash equivalents of $18.6 million, restricted cash of $27.0 million, and availability under its revolving credit facility.

Shentel also announced a reduction in force of approximately 10% of its employees to align with the completion of its Glo Fiber construction phase. The company expects to save approximately $12.3 million annually beginning in 2027, with $2.5 million in restructuring costs expected to be incurred to achieve these savings.

The company updated its 2026 capital expenditure guidance to $255 million to $275 million, net of government grant reimbursements. This revised outlook reflects an increase in projected Glo Fiber homes passed from 510,000 to 517,000 by the end of 2026.