Shentel surpasses 100,000 fiber passings in second quarter 2022

Regional US operator Shenandoah Telecommunications (Shentel) grew revenue 8.8 percent in second quarter 2022 as its Glo Fiber business thrived, but its net loss doubled as it took a financial hit from the decommissioning of unprofitable Beam fixed wireless access sites. During the quarter, Shentel’s Glo Fiber unit chugged past the 100,000 passings milestone, adding 19,000 new locations to reach a total of approximately 113,000. CEO Chris French also announced it signed agreements for 72,000 additional franchise passings, increasing its total number of franchise and government grant award passings to 430,000. The latter figure represents 89 percent of the 482,000 passings Shentel said it is aiming to reach by 2026. Its construction backlog currently stands at 317,000 locations. Shentel has repeatedly raised its 2026 passings target, first increasing it from 300,000 to 450,000 locations late last year. It appears to have subsequently raised that to a total of 482,000 passings, inclusive of 32,000 locations it plans to reach using money from government grants.