Shentel Reports 2019 Strong Fourth Quarter and Year End Operating Statistics
January 07 2020 - 8:00AM
Shenandoah Telecommunications Company (Shentel) (NASDAQ: SHEN)
announces preliminary operating statistics for the fourth quarter
and year-end 2019.
“We achieved our second consecutive quarter of record postpaid
wireless gross and net postpaid additions in the fourth quarter
2019, driven in part by our network and distribution investments in
the recently acquired Parkersburg expansion areas. We grew
postpaid gross and net additions in 2019 by 24% and 142%,
respectively, giving us strong sales momentum in our Wireless
business as we enter 2020,” said President and CEO Christopher
French “Our Cable and Wireline focus on increasing broadband
penetration, together with the acquisition of Big Sandy Broadband,
produced 11.3% year-over-year growth in cable broadband RGUs with
broadband penetration increasing to 40.7% as of December 31,
2019. We continue to see the benefits of the recently
completed DOCSIS 3.1 upgrades which have enabled 1 Gigabit download
speeds across our footprint, while our new rate card and ongoing
improvements in customer service and operations have significantly
increased customer satisfaction and retention.”
WIRELESS |
|
December 31,2019 |
|
December 31,2018 |
Retail PCS subscribers –
postpaid |
|
844,194 |
|
795,176 |
Retail PCS subscribers –
prepaid |
|
274,012 |
|
258,704 |
Total PCS subscribers |
|
1,118,206 |
|
1,053,880 |
|
|
Three Months Ended |
|
|
Twelve Months Ended |
|
|
|
December 31, |
|
|
December 31, |
|
WIRELESS |
|
2019 |
|
2018 |
|
|
2019 |
|
2018 |
|
Gross PCS subscriber additions
– postpaid |
|
71,830 |
|
54,517 |
|
|
235,953 |
|
190,334 |
|
Net PCS subscriber additions –
postpaid |
|
20,777 |
|
9,639 |
|
|
49,018 |
|
20,236 |
(1) |
Gross PCS subscriber additions
– prepaid |
|
39,352 |
|
38,225 |
|
|
152,098 |
|
150,662 |
|
Net PCS subscriber additions –
prepaid |
|
2,461 |
|
3,242 |
|
|
15,308 |
|
17,191 |
(1) |
PCS average monthly retail
churn % – postpaid |
|
2.05% |
|
1.90% |
|
|
1.92% |
|
1.82% |
|
PCS average monthly retail
churn % – prepaid |
|
4.52% |
|
4.55% |
|
|
4.26% |
|
4.45% |
|
(1) Results exclude 38,343 postpaid and
15,691 prepaid subscribers acquired on February 1, 2018 in the
Richmond Expansion Area.
CABLE AND
WIRELINE |
|
December 31, 2019 (2) |
|
|
December 31, 2018 |
|
|
Cable (3) |
Wireline |
Total |
|
|
Cable |
Wireline |
Total |
Cable homes passed |
|
189,762 |
|
16,500 |
|
206,262 |
|
|
|
185,119 |
|
16,500 |
|
201,619 |
|
|
|
|
|
|
|
|
|
|
|
Video RGUs |
|
48,613 |
|
5,024 |
|
53,637 |
|
|
|
53,086 |
|
5,586 |
|
58,672 |
|
Penetration |
|
25.6% |
|
30.4% |
|
26.0% |
|
|
|
28.7% |
|
33.9% |
|
29.1% |
|
|
|
|
|
|
|
|
|
|
|
Broadband RGUs |
|
77,227 |
|
6,689 |
|
83,916 |
|
|
|
70,183 |
|
5,206 |
|
75,389 |
|
Penetration |
|
40.7% |
|
40.5% |
|
40.7% |
|
|
|
37.9% |
|
31.6% |
|
37.4% |
|
|
|
|
|
|
|
|
|
|
|
Voice RGUs |
|
24,152 |
|
7,213 |
|
31,365 |
|
|
|
23,810 |
|
5,664 |
|
29,474 |
|
Penetration |
|
12.7% |
|
43.7% |
|
15.2% |
|
|
|
12.9% |
|
34.3% |
|
14.6% |
|
|
|
|
|
|
|
|
|
|
|
Total Cable RGUs |
|
149,992 |
|
18,926 |
|
168,918 |
|
|
|
147,079 |
|
16,456 |
|
163,535 |
|
CABLE AND WIRELINE |
|
December 31, 2019 (2) |
|
|
December 31, 2018 |
|
|
Cable |
Wireline |
Total |
|
|
Cable |
Wireline |
Total |
Rural Local Exchange Carrier
("RLEC") |
|
|
|
|
|
|
|
|
|
RLEC homes passed |
|
— |
25,495 |
|
25,495 |
|
|
|
— |
25,457 |
|
25,457 |
|
RLEC RGUs |
|
|
|
|
|
|
|
|
|
Data RLEC |
|
— |
7,797 |
|
7,797 |
|
|
|
— |
9,104 |
|
9,104 |
|
Penetration |
|
— |
30.6% |
|
30.6% |
|
|
|
— |
35.8% |
|
35.8% |
|
Voice RLEC |
|
— |
14,332 |
|
14,332 |
|
|
|
— |
15,698 |
|
15,698 |
|
Penetration |
|
— |
56.2% |
|
56.2% |
|
|
|
— |
61.7% |
|
61.7% |
|
Total RLEC RGUs |
|
— |
22,129 |
|
22,129 |
|
|
|
— |
24,802 |
|
24,802 |
|
(2) Homes passed are as of September 30,
2019. (3) Excludes Glo Fiber results.
About Shenandoah Telecommunications Shenandoah
Telecommunications Company (Shentel) provides a broad range of
diversified communications services through its high speed,
state-of-the-art network to customers in the Mid-Atlantic United
States. The Company’s services include: wireless voice and data;
cable video, internet and digital voice; fiber network and
services; and regulated local and long distance telephone. Shentel
is the exclusive personal communications service (“PCS”) Affiliate
of Sprint in a multi-state area covering large portions of central
and western Virginia, south-central Pennsylvania, West Virginia,
and portions of Maryland, North Carolina, Kentucky, and Ohio. For
more information, please visit www.shentel.com.
CONTACTS:Shenandoah Telecommunications, Inc.Jim VolkSenior Vice
President, Finance and Chief Financial
Officer540-984-5990Jim.Volk@emp.shentel.com
OrJohn Nesbett/Jennifer BelodeauIMS Investor
Relations203-972-9200jnesbett@institutionalms.com
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