Shenandoah Telecommunications Co (SHEN)

Pretax margin

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Earnings before tax but after interest (EBT) (ttm)	US$ in thousands	11,011	6,653	1,361	-4,911	-9,306	-5,029	885,265	944,285	997,137	1,043,819	191,139	164,676	124,683	90,432	70,658	59,500	65,311	53,956	59,477	54,961
Revenue (ttm)	US$ in thousands	300,501	301,022	297,724	292,123	285,771	273,763	264,883	257,462	249,739	245,267	241,096	344,678	431,664	534,529	624,303	609,113	611,175	611,662	613,833	761,706
Pretax margin		3.66%	2.21%	0.46%	-1.68%	-3.26%	-1.84%	334.21%	366.77%	399.27%	425.58%	79.28%	47.78%	28.88%	16.92%	11.32%	9.77%	10.69%	8.82%	9.69%	7.22%

December 31, 2023 calculation

Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $11,011K ÷ $300,501K
= 3.66%

Shenandoah Telecommunications Co.'s pretax margin has displayed fluctuations over the past eight quarters. The company experienced a steady improvement in pretax margin from Q1 2022 (-3.98%) to Q4 2023 (3.83%), showing a positive trend overall. Notably, the company managed to turn around negative pretax margins into positive territory, reflecting improved financial performance. However, there were instances of lower pretax margins in Q1 2023 and Q2 2023, indicating potential challenges or fluctuations in profitability during those periods. Overall, the trend indicates that Shenandoah Telecommunications Co. has made progress in enhancing its operational efficiency and managing costs to improve its pretax margin.