Shentel’s Q1 Revenue Climbs 4.8% as Fiber Expansion Drives 6,000 Net Adds
Shentel’s Q1 revenue rose 4.8% to $92.2 million, driven by a 34.6% increase in Glo Fiber expansion markets revenue to $24.8 million and 6,000 net fiber additions. The company logged a $15.8 million net loss from operations versus $9.1 million last year and reiterated 2026 revenue and adjusted EBITDA targets.
1. First Quarter Financial Results
Shentel reported first-quarter 2026 revenue of $92.2 million, a 4.8% increase over last year, with adjusted EBITDA rising 15% to $31.7 million. Net loss from operations widened to $15.8 million compared to $9.1 million in Q1 2025.
2. Glo Fiber Expansion Performance
Glo Fiber expansion markets revenue surged 34.6% year over year to $24.8 million, fueled by approximately 6,000 net additions and a 33.7% increase in data RGUs. Commercial fiber revenue also grew 4.7% on higher circuit services sales to existing customers.
3. Cost Management and Capital Expenditures
Cost of services declined by $1.2 million, while selling, general and administrative expenses rose $2.4 million due to increased advertising and payroll costs. Restructuring and integration charges climbed $1.9 million. Capital expenditures totaled $75.8 million, down $7.4 million as fiber buildout nears completion.
4. 2026 Guidance and Cash Flow Outlook
The company reaffirmed full-year 2026 guidance of $370–$377 million in revenue, $131–$136 million in adjusted EBITDA, and $220–$250 million in net capital expenditures. Shentel remains on track for positive free cash flow in 2027 and held $194.5 million in available liquidity at quarter end.