Shentel stock gains fiber momentum as capex outlook rises

Published on 11/10/2026 at 22:21 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Shentel stock reflects stronger fiber momentum after the third quarter. Management kept its operating outlook but raised planned capital spending.

Fiber growth reshapes Shentel

Glo Fiber expansion revenue rose strongly in the third quarter, while combined fiber revenue reached 52 percent of consolidated revenue.
Management kept its 2026 revenue and adjusted EBITDA outlook unchanged but raised net capital expenditure guidance.
The planned network expansion is expected to be substantially complete by the end of 2026, supporting a shift toward customer growth and cash generation.

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Shenandoah Telecommunications reported stronger fiber momentum in its third quarter ended September 30, 2026. In its October 28 investor-relations release, the company said total revenue increased 4.6 percent year over year to USD 93.9 million, while adjusted EBITDA rose 11.8 percent to USD 33.2 million.

Fiber becomes the main growth engine

Glo Fiber expansion markets generated USD 28.2 million of revenue, up 32.2 percent from the prior-year quarter. Commercial Fiber revenue added a further 5.9 percent, and the two fiber businesses together grew 19.5 percent to represent 52 percent of consolidated revenue.

Glo Fiber passed more than 500,000 homes and businesses during the quarter and added a record 8,600 net data customers. The company ended the period with 108,787 Glo Fiber broadband data customers, compared with 82,662 a year earlier. By contrast, incumbent broadband revenue declined 6.8 percent as video customers continued to switch to streaming services.

Higher investment weighs on cash outlook

Shentel left its 2026 revenue guidance at USD 370 million to USD 377 million and adjusted EBITDA guidance at USD 131 million to USD 136 million. It raised net capital expenditure guidance to USD 255 million to USD 275 million from USD 220 million to USD 250 million, citing additional Glo Fiber passings and government grant reimbursements that are now expected to extend into 2027.

The company expects its planned network expansion to be substantially complete by year-end. Management also said a workforce reduction announced earlier in 2026 is expected to generate annual savings of USD 12.3 million from 2027, with roughly half affecting operating expenses and half capitalized labor.