Shenandoah Telecommunications Company (NASDAQ:SHEN) Q4 2023 Earnings Call Transcript

Edward McKay: They’re continuing to shift more toward the higher tiers. As I mentioned, almost half of our new customers are signing up for gigabit speeds or higher. So, we’re definitely capturing the higher end of the market as customers want more bandwidth.

Hamed Khorsand: And my last question is that, has there been any changes as far as your cost and your capital expenditure model? And how much has that been?

Edward McKay: So, I will say we previously gave a range of $1,000 to $1,400 per passing for new construction for Glo Fiber. We are at the higher end of that range now. We’re building in some less dense areas. And the cost for construction has gone up. We’ve seen it level off in the past year, but we did see some significant increases before that.

Hamed Khorsand: Okay. Great. Thank you.

Christopher French: Thanks, Hamed.

Operator: That concludes today’s question-and-answer session. I’d like to turn the call back to Jim Volk for closing remarks.

James Volk: Yes. Thank you, all, for joining. We look forward to updating you in 2024 of what we expect will be a very exciting year. Thanks, everyone, and have a great day.

Operator: This concludes today’s conference call. Thank you for participating. You may now disconnect.