Shenandoah Telecommunications Co

Good morning, everyone. Welcome to Shenandoah Daily Communications' third 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.

Good morning, and thank you for joining us. The purpose of today's call is to review Shentel's results for the third 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 shintel.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 two 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.

Thanks, Kirk. We appreciate everyone joining us this morning and hope everyone is well. I will start my comments with an update on our Horizon integration on Slide 4. We've made significant progress during our seven months of ownership. We launched the Glow Fiber brand in Ohio and implemented leadership changes in the second quarter. Most recently, we successfully completed four of the six back office system integrations, including the billing system conversion, which was the most complex of the six systems to convert. Work is well underway for the ERP and payroll conversions, which we expect to complete by January 2025. We've also integrated the commercial sales teams with one team now serving our carrier and wholesale customers for the combined company. We believe this change will provide upside in our sales bookings as we can provide more on-net solutions. The former Horizon customer care team has migrated over to the Shintel platform, providing better efficiencies and enhanced tools to provide a quality customer experience. We've also aligned our compensation and benefit programs to start in January 2025. We now have clear line of sight to realize our synergy savings and have upsized our target savings to 11 million. We expect the second quarter of 2025 will be the first quarter when all the synergy savings will be realized. I'll now turn to slide five to give an update on our strategy execution. We ended the second quarter with approximately 320,000 Glowfiber passings. We constructed and released to sales 101,000 new passings over the past year, in addition to 15,500 passings we acquired with the Horizon transaction. This gives a 58% growth rate from a year ago. As of the end of September, we have over 59,000 Glowfiber customers, also representing a 58% year-over-year growth rate. We have a record quarter with 6,000 net subscriber additions, and good sales momentum has continued into the fourth quarter. With that, I'll now turn the call over to Jim to review the details of our financial results.