Shenandoah Telecommunications Company (NASDAQ:SHEN) Q2 2024 Earnings Call August 7, 2024 8:30 AM ET

Company Participants

Kirk Andrews - Director, Financial Planning and Analysis
Chris French - President and Chief Executive Officer
Ed McKay - Executive Vice President and Chief Operating Officer
Jim Volk - Senior Vice President, Finance and Chief Financial Officer

Conference Call Participants

Frank Louthan - Raymond James
Hamed Khorsand - BWS Financial

Operator

Good morning, everyone. Welcome to Shenandoah Telecommunications Second Quarter 2024 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 the second quarter of 2024. Our results were announced in a press release distributed this morning and the presentation we’ll be reviewing is included on the Investor page at our shentel.com website. 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 are 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.

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

Chris French

Thanks, Kirk. We appreciate everyone joining us this morning and hope everyone is well. Before we discuss our second quarter financial and operating results, I’d like to comment on progress with execution of our Glo Fiber expansion strategy and network build-out. When we developed our Glo Fiber business plan 5 years ago, we identified a few operating metrics that we believe are key to driving returns on investment. Cost to pass a home was estimated to be in the $1,000 to $1,400 range. As we reach the halfway point of our targeted passings, we have seen cost increase, but we remain within this range.