Shenandoah Telecommunications Co. Files 10-Q for Period Ending March 31, 2024
Ticker: SHEN · Form: 10-Q · Filed: May 3, 2024 · CIK: 354963
Sentiment: neutral
Topics: 10-Q, Shenandoah Telecommunications, Quarterly Report, Financials, Telecommunications
TL;DR
<b>Shenandoah Telecommunications Co. (SHEN) has filed its Q1 2024 10-Q report, detailing financial performance and operational segments.</b>
AI Summary
SHENANDOAH TELECOMMUNICATIONS CO/VA/ (SHEN) filed a Quarterly Report (10-Q) with the SEC on May 3, 2024. Shenandoah Telecommunications Co. (SHEN) filed a 10-Q report for the period ending March 31, 2024. The filing covers the first quarter of fiscal year 2024. Key financial data and segment information are included in the report. The company is incorporated in Virginia (VA) and operates in the Telephone Communications sector. The filing was made on May 3, 2024.
Why It Matters
For investors and stakeholders tracking SHENANDOAH TELECOMMUNICATIONS CO/VA/, this filing contains several important signals. This 10-Q provides investors with the latest quarterly financial results and operational updates for SHEN, crucial for assessing the company's current health and future prospects. Understanding the segment performance and financial metrics within this filing is essential for making informed investment decisions regarding SHEN.
Risk Assessment
Risk Level: medium — SHENANDOAH TELECOMMUNICATIONS CO/VA/ shows moderate risk based on this filing. The filing is a standard quarterly report (10-Q), which typically contains routine financial information. However, the absence of specific financial performance figures in the provided text prevents a deeper risk assessment.
Analyst Insight
Review the detailed financial statements and segment performance within the full 10-Q filing to identify any significant trends or deviations from previous periods.
Revenue Breakdown
| Segment | Revenue | Growth |
|---|---|---|
| Tower Portfolio | ||
| ResidentialAndSMBCableMarkets | ||
| ResidentialAndSMBGloFiber | ||
| CommercialFiber |
Key Numbers
- 2024-03-31 — Period End Date (CONFORMED PERIOD OF REPORT)
- 2024-05-03 — Filing Date (FILED AS OF DATE)
- 2024-01-01 — Quarter Start Date (Reporting Period)
- 2023-03-31 — Prior Year Quarter End Date (Reporting Period)
Key Players & Entities
- SHENANDOAH TELECOMMUNICATIONS CO/VA/ (company) — FILER
- SHEN (company) — tk
- 20240331 (date) — CONFORMED PERIOD OF REPORT
- 20240503 (date) — FILED AS OF DATE
- 0000354963 (company) — CENTRAL INDEX KEY
- VA (location) — STATE OF INCORPORATION
- EDINBURG (location) — CITY
- 5409844141 (phone) — BUSINESS PHONE
FAQ
When did SHENANDOAH TELECOMMUNICATIONS CO/VA/ file this 10-Q?
SHENANDOAH TELECOMMUNICATIONS CO/VA/ filed this Quarterly Report (10-Q) with the SEC on May 3, 2024.
What is a 10-Q filing?
A 10-Q is a quarterly financial report with unaudited financials, management discussion, and interim business updates. This particular 10-Q was filed by SHENANDOAH TELECOMMUNICATIONS CO/VA/ (SHEN).
Where can I read the original 10-Q filing from SHENANDOAH TELECOMMUNICATIONS CO/VA/?
You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by SHENANDOAH TELECOMMUNICATIONS CO/VA/.
What are the key takeaways from SHENANDOAH TELECOMMUNICATIONS CO/VA/'s 10-Q?
SHENANDOAH TELECOMMUNICATIONS CO/VA/ filed this 10-Q on May 3, 2024. Key takeaways: Shenandoah Telecommunications Co. (SHEN) filed a 10-Q report for the period ending March 31, 2024.. The filing covers the first quarter of fiscal year 2024.. Key financial data and segment information are included in the report..
Is SHENANDOAH TELECOMMUNICATIONS CO/VA/ a risky investment based on this filing?
Based on this 10-Q, SHENANDOAH TELECOMMUNICATIONS CO/VA/ presents a moderate-risk profile. The filing is a standard quarterly report (10-Q), which typically contains routine financial information. However, the absence of specific financial performance figures in the provided text prevents a deeper risk assessment.
What should investors do after reading SHENANDOAH TELECOMMUNICATIONS CO/VA/'s 10-Q?
Review the detailed financial statements and segment performance within the full 10-Q filing to identify any significant trends or deviations from previous periods. The overall sentiment from this filing is neutral.
Key Dates
- 2024-03-31: Quarter End Date — End of the reporting period for the 10-Q filing.
- 2024-05-03: Filing Date — Date the 10-Q report was officially submitted to the SEC.
Filing Stats: 4,521 words · 18 min read · ~15 pages · Grade level 16 · Accepted 2024-05-03 08:04:16
Filing Documents
- shen-20240331.htm (10-Q) — 806KB
- shenex31103312024.htm (EX-31.1) — 11KB
- shenex31203312024.htm (EX-31.2) — 10KB
- shenex31303312024.htm (EX-31.3) — 10KB
- shenex3203312024.htm (EX-32) — 9KB
- shen-20240331_g1.jpg (GRAPHIC) — 5KB
- 0001628280-24-020142.txt ( ) — 6397KB
- shen-20240331.xsd (EX-101.SCH) — 51KB
- shen-20240331_cal.xml (EX-101.CAL) — 128KB
- shen-20240331_def.xml (EX-101.DEF) — 188KB
- shen-20240331_lab.xml (EX-101.LAB) — 650KB
- shen-20240331_pre.xml (EX-101.PRE) — 440KB
- shen-20240331_htm.xml (XML) — 886KB
FINANCIAL INFORMATION
PART I. FINANCIAL INFORMATION
Financial Statements
Item 1. Financial Statements Unaudited Condensed Consolidated Balance Sheets 3 Unaudited Condensed Consolidated Statements of Comprehensive Income 4 Unaudited Condensed Consolidated Statements of Shareholders' Equity 5 Unaudited Condensed Consolidated Statements of Cash Flows 6 Notes to Unaudited Condensed Consolidated Financial Statements 7
Management's Discussion and Analysis of Financial Condition and Results of Operations 20
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 20
Quantitative and Qualitative Disclosures about Market Risk 25
Item 3. Quantitative and Qualitative Disclosures about Market Risk 25
Controls and Procedures 25
Item 4. Controls and Procedures 25
OTHER INFORMATION
PART II. OTHER INFORMATION
Legal Proceedings 26
Item 1. Legal Proceedings 26
Risk Factors 26
Item 1A. Risk Factors 26
Unregistered Sales of Equity Securities and Use of Proceeds 26
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 26
Other Information
Item 5. Other Information 26
Exhibits 27
Item 6. Exhibits 27 Signatures 29 2 Table of Contents SHENANDOAH TELECOMMUNICATIONS COMPANY AND SUBSIDIARIES UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (in thousands) March 31, 2024 December 31, 2023 ASSETS Current assets: Cash and cash equivalents $ 389,735 $ 139,255 Accounts receivable, net of allowance for credit losses of $ 1,064 and $ 886 , respectively 18,228 19,782 Income taxes receivable 2,618 4,691 Prepaid expenses and other 15,025 11,782 Current assets held for sale 561 561 Total current assets 426,167 176,071 Investments 13,408 13,198 Property, plant and equipment, net 896,208 850,337 Goodwill and intangible assets, net 81,083 81,123 Operating lease right-of-use assets 14,170 13,024 Deferred charges and other assets 14,886 11,561 Non-current assets held for sale — 68,915 Total assets $ 1,445,922 $ 1,214,229 LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities: Current maturities of long-term debt, net of unamortized loan fees $ 7,879 $ 7,095 Accounts payable 50,281 53,546 Advanced billings and customer deposits 12,267 12,394 Accrued compensation 7,337 11,749 Current operating lease liabilities 2,266 2,222 Accrued liabilities and other 11,003 7,747 Current liabilities held for sale — 3,602 Total current liabilities 91,033 98,355 Long-term debt, less current maturities, net of unamortized loan fees 290,716 292,804 Other long-term liabilities: Deferred income taxes 163,726 85,664 Benefit plan obligations 4,161 3,943 Non-current operating lease liabilities 8,362 7,185 Other liabilities 16,281 16,912 Non-current liabilities held for sale — 56,696 Total other long-term liabilities 192,530 170,400 Commitments and contingencies (Note 13) Shareholders' equity: Common stock, no par value, authorized 96,000 ; 50,447 and 50,272 issued and outstanding at March 31, 2024 and December 31, 2023, respectively — — Additional paid in capital 69,616 66,933 Retained earnings 798,765 584,069 Accumulated other compreh