Shenandoah Telecommunications Company (NASDAQ:SHEN) Q4 2022 Earnings Conference Call February 22, 2023 8:30 AM ET

Company Participants

Kirk Andrews - Director, FP&A

Christopher French - Chairman, President & CEO

James Volk - SVP, Finance & CFO

Edward McKay - EVP & COO

Conference Call Participants

Frank Louthan - Raymond James & Associates

Daniel Day - B. Riley Securities

Hamed Khorsand - BWS Financial

Operator

Good morning, everyone. Welcome to the Shenandoah Communications Fourth Quarter 2022 Earnings Conference Call. Today's conference is being recorded.

At this time, I would like to turn the conference over to Mr. Kirk Andrews, Director of Financial Planning and Analysis for Shentel.

Kirk Andrews

Good morning, and thank you for joining us. The purpose of today's call is to review Shentel's results for fourth quarter and full year 2022. Our results were announced in our press release distributed this morning, and the presentation we'll be reviewing is included on the Investor page at our website, www.shentel.com.

Please note that an audio replay of this call will be made available later today. The details are set forth in the press release announcing this call.

With us on the call today are Chris French, President and Chief Executive Officer; Ed McKay, Executive Vice President and Chief Operating Officer; and Jim Volk, Senior Vice President of Finance and CFO. After our prepared remarks, we will conduct a question-and-answer session.

As always, let me refer you to Slide 2 of the presentation, which contains our safe harbor disclaimer, and remind you that this conference call may include forward-looking statements subject to certain risks and uncertainties. These may cause our actual results to differ materially from the statements. Therefore, we have provided a detailed discussion of various risk factors in our SEC filings, which you are encouraged to review. You're cautioned not to place undue reliance on these forward-looking statements. Except as required by law, we undertake no obligation to publicly update or revise any forward-looking statements.

And with that, I will now turn the call over to Chris. Go ahead, Chris.

Christopher French

Thanks, Kirk. We appreciate everyone joining us this morning, and hope everyone is staying healthy and safe. 2022 was another successful year for Shentel. We had solid growth across our Incumbent Cable, Commercial Fiber and Tower businesses and had remarkable growth with our Glo Fiber expansion. As noted on Slide 4, we accelerated both our construction and sales of Glo Fiber in each of the past 2 years. Our annual construction pace increased 64% from approximately 27,000 new passings in 2020 to over 72,000 new passings in 2022.