**Shenandoah Telecommunications Company (Shentel) Reports Financial Results for Q2 2024**

**Shenandoah Telecommunications Company (Shentel) Reports Financial Results for Q2 2024** EDINBURG, Va., Aug. 07, 2024 (GLOBE NEWSWIRE) -- Shenandoah Telecommunications Company ("Shentel" or the "Company") (NASDAQ: SHEN) announced second-quarter 2024 financial and operating results. **1. Key Financial Metrics** | Metric | Q2 2024 | Q2 2023 | YoY Change | Previous Quarter | QoQ Change | Consensus Estimates | |------------------------------|---------------|---------------|------------|---------------------|-------------|------------------------| | Total Revenue | $85.8 million | $66.6 million | +28.7% | $82.3 million | +4.2% | $86.11 million | | Earnings Per Share (EPS) | -$0.23 | -$0.03 | — | $0.10 | — | $0.01 | | Adjusted EBITDA | $23.3 million | $19.5 million | +19.7% | $21.4 million | +8.9% | — | **Financial Performance Interpretation:** For Q2 2024, Shentel’s total revenue of $85.8 million missed the consensus estimate slightly, despite representing a 28.7% year-over-year growth and a 4.2% increase quarter-over-quarter. The EPS of -$0.23 fell well below market expectations due to non-recurring expenses related to the Horizon acquisition and increased depreciation and amortization costs. **2. Revenue Performance by Segment** | Segment | Q2 2024 Revenue | % Change YoY | Previous Guidance | |----------------------------|------------------|----------------|--------------------------| | Residential & SMB | $56.6 million | +8.0% | Not provided | | Commercial Fiber | $9.1 million | -11.6% | In line with expectations| **Segment Performance Interpretation:** The Residential and SMB segment recorded an 8.0% year-over-year revenue increase, which can be attributed to the strong performance of the Glo Fiber Expansion Markets. On the other hand, the Commercial Fiber segment saw a decline of 11.6% as anticipated, primarily due to the decreased T-Mobile revenue from legacy Sprint networks. **3. Comments from Company Officers** “We made good progress executing our Fiber First strategy with another solid quarter of Glo Fiber net subscriber additions and construction of new passings, and integration of our recent Horizon acquisition with its fiber-rich network has gone well,” said President and CEO Christopher E. French. **4. Dividends and Share Repurchase Program** There were no announcements regarding dividends or a share repurchase program. **5. Forward Guidance** The company did not provide specific forward guidance for the next quarter or fiscal year. **6. Stock Price Movement** Following the earnings release, Shentel’s stock observed a minor decrease in value, equivalent to about a -0.11% change. In summary, Shentel's Q2 2024 results showcased growth in overall revenue and adjusted EBITDA, bolstered by the recent Horizon acquisition, while also managing integration expenses and expansion investments strategically.