Shentel raises fiber spending outlook as subsidy receipts shift into 2027

Shentel raised its 2026 capital expenditure guidance, net of government grant reimbursements, to $255 million to $275 million from $220 million to $250 million. The broadband provider said the revision reflects a higher year-end Glo Fiber target and subsidy reimbursements now projected to extend into 2027. The company increased its projected homes passed by the network from 510,000 to 517,000 by the end of 2026. It reported surpassing 500,000 passings and adding a record 8,600 net Glo Fiber customers in the third quarter. Shentel still expects its planned network expansion projects to be substantially complete by the end of 2026. Revenue and adjusted EBITDA guidance remain unchanged.