Brief: Shenandoah Telecommunications Company Reports First Quarter 2020 Results

Shenandoah Telecommunications

30/04/2020 11:48

April 30 (Reuters) - Shenandoah Telecommunications Co
 SHEN.O :
    * MPANY REPORTS FIRST QUARTER 2020 RESULTS
    * Q1 REVENUE $153.2 MILLION VERSUS REFINITIV IBES ESTIMATE
OF
$162.9 MILLION
    * ENDED QUARTER WITH $195.2 MILLION OF LIQUIDITY
    * COVID-19 EFFECTS WERE NOT MATERIAL TO OUR OVERALL Q1
PERFORMANCE
    * SHENANDOAH - POSTPAID GROSS ADDITIONS DECREASED DUE
TEMPORARY
CLOSURE, BEGINNING IN MIDDLE OF MARCH, OF ABOUT 40% OF
SPRINT-BRANDED RETAIL STORES
    * DO NOT EXPECT THAT LONG-TERM GROWTH PROSPECTS OF OUR
WIRELESS
BUSINESS WILL BE MATERIALLY AFFECTED
    * QTRLY EARNINGS PER SHARE $0.27
    * SHENTEL SERVED 847,771 WIRELESS POSTPAID SUBSCRIBERS AT
MARCH
31, AN INCREASE OF 5.8%
    * EXPECT TO SETTLE DISPUTE WITH SPRINT OVER RESETTING OF
TRAVEL
FEE. IN Q2 THROUGH BINDING ARBITRATION

Source text for Eikon:  ID:nGNX2nkdFs 
Further company coverage:  SHEN.O 

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