Shenandoah Telecommunications Company (SHEN) Earnings Call Transcripts

Shenandoah Telecommunications Company's Latest Earnings Call - Q1 FY2026

In the first quarter of 2026, Shenandoah Telecommunications Company (SHEN:US) reported consolidated revenues of $92.2 million, reflecting a 4.8% year-over-year increase, driven primarily by strong growth in their Glo Fiber segment. Adjusted EBITDA grew 15% to $31.7 million, resulting in a margin improvement to 34.4%. Management reiterated their annual guidance for 2026, maintaining revenue expectations between $370 million and $377 million, which could provide a stable outlook for investors moving forward.

Reported metrics

Guidance from management

Management maintained their annual guidance for 2026, expecting revenues between $370 million and $377 million and adjusted EBITDA between $131 million and $136 million.

What management said

In our Glo Fiber markets, we're not. Our net adds were up 9% over the first quarter of 2025. So we're very pleased with our progress there. We did mention in our incumbent markets, we did see a little bit of churn to Starlink with some of the promotional offers they launched in the first quarter. But other than that, we're on plan as expected.

I'd say medium term, we are offering 5-year price guarantees on the higher speed tiers. But longer term, I think there's opportunity there. And we were very pleased with the speed mix in the past quarter. The demand is out there for those higher speeds, and we do think that's sustainable going forward.

What analysts pressed on

Analysts expressed concerns regarding pricing power and ARPU growth amidst increasing competition, particularly from Starlink. There were questions about the sustainability of customer growth and the impact of promotional activities on churn rates.

Main topics on the call

• Glo Fiber Expansion and Customer Growth — Shenandoah added approximately 6,000 Glo Fiber net customers in Q1 2026, a 9% improvement year-over-year. Management noted, "Collectively, these results demonstrate the excellent momentum we continue to see in our fiber ...
• Commercial Fiber Performance — The Commercial Fiber segment saw revenue growth of 4.7% year-over-year, with sales bookings reaching $196,000. This growth is attributed to strong demand from wireless carriers and enterprise customers.
• ARPU and Pricing Power Concerns — Management indicated that ARPU for Glo Fiber is expected to remain flat in the near term, while incumbent broadband ARPU has seen a slight decline due to competition. CEO McKay stated, "In our Glo Fiber business, we're e...
• Churn and Competitive Landscape — The company experienced slight churn in rural markets due to competition from Starlink. McKay mentioned, "We saw really no impact in Glo Fiber and no impact in the majority of our incumbent passings."

Read the full Shenandoah Telecommunications Company transcript (Q1 FY2026) → Summary generated from the call transcript; every figure above is stated by management on the record.

Earnings Call History

EarningsCalls.dev has 37 Shenandoah Telecommunications Company earnings call transcripts on record, spanning January 8, 2020 to September 10, 2026. Based on this history, Shenandoah Telecommunications Company reports quarterly. The most recent call on file is dated September 10, 2026. The full list is below — each row opens the complete, free-to-read transcript.

Ticker

SHEN

Exchange

NasdaqGS

Country

US

Sector

Communication Services

Industry

Diversified Telecommunication Services

Calls on record

37

First call

January 8, 2020

Most recent

September 10, 2026

Reporting cadence

quarterly