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Consolidated Communications Holdings, Inc. (NASDAQ: CNSL) is a prominent provider of broadband and business communication services across 23 states in the United States. Leveraging its extensive fiber optic network that spans an impressive 45,850 fiber route miles, the company delivers a wide array of communication solutions aimed at both consumers and businesses of all sizes. These services include data, voice, video, managed services, cloud computing, and wireless backhaul.
Headquartered in Mattoon, Illinois, Consolidated Communications serves a diverse range of customers. Its business product suite encompasses data and Internet solutions, voice services, data center services, security services, managed and IT services, and an expanded suite of cloud services. Additionally, the company provides wholesale solutions to wireless and wireline carriers and other service providers, including data, voice, network connections, custom fiber builds, and last-mile connections.
For residential customers, Consolidated Communications offers high-speed Internet, video, phone, and home security services. The company also provides multi-service bundles tailored for residential and small business needs.
Recent achievements of Consolidated Communications include significant advancements in their fiber network infrastructure, enhancing the speed and reliability of their services. Current projects involve expanding their fiber network to underserved areas and introducing innovative solutions to meet the evolving needs of their clientele.
Financially, Consolidated Communications maintains a stable position, continually investing in infrastructure and technology to ensure long-term growth and customer satisfaction. The company's strategic partnerships and continuous innovation highlight its commitment to providing top-tier communication services.
Consolidated Communications (Nasdaq: CNSL) has announced that it will release its third quarter 2024 financial results on Tuesday, November 5, before the market opens. The earnings press release will be available on the company's investor relations website at https://ir.consolidated.com/.
Notably, Consolidated Communications will not host an earnings conference call for this quarter. This decision is attributed to the pending acquisition of the company by affiliates of Searchlight Capital Partners, L.P. and British Columbia Investment Management
Consolidated Communications (NASDAQ: CNSL) has awarded $50,000 in educational grants through its Consolidated Connects Educational Grant Program in 2024. The grants will support over 1,800 students at 12 schools, focusing on innovative, technology-driven learning programs. Since 2021, Consolidated has awarded more than $164,000 to 44 schools, benefiting over 15,000 students.
The grants support various initiatives, including:
- Upgrading classroom technology
- Improving robotics equipment
- Integrating drone technology
- Enhancing esports programs
- Expanding digital literacy resources
Jennifer Spaude, SVP of Corporate Communications, emphasized the importance of these investments in promoting curiosity and problem-solving skills among students. The 2025 grant application is scheduled to open for eligible schools in January.
Consolidated Communications Holdings, Inc. (Nasdaq: CNSL) reported its Q2 2024 financial results. Key highlights include:
- Revenue: $268.7 million
- Consumer fiber broadband revenue: $45.4 million
- Consumer broadband net adds: 3,670
- Net loss: ($66.7 million)
- Adjusted EBITDA: $84.2 million
- Capital expenditures: $102.7 million
The company completed the sale of its Washington assets on May 1, 2024. CNSL is also in the process of being acquired by affiliates of Searchlight Capital Partners and British Columbia Investment Management in a $3.1 billion all-cash transaction, expected to close in late Q4 2024 or early Q1 2025.
Consolidated Communications (Nasdaq: CNSL) is set to release its second quarter 2024 financial results on Aug. 6, 2024, before the market opens. The earnings release will be available on the company's investor relations website. Due to the pending acquisition by affiliates of Searchlight Capital Partners, L.P., and British Columbia Investment Management , Consolidated Communications will not hold an earnings conference call.
Consolidated Communications announced that its Fidium Fiber brand has been awarded CNET’s Best Internet Providers of 2024. This recognition highlights Fidium's fast speeds, 100% fiber connection, and competitive pricing.
Since 2021, Consolidated has expanded its multi-gigabit fiber network to over 1.25 million homes and businesses across more than 20 states. Chief Operating Officer Gaurav Juneja praised the teams' efforts in delivering high-quality internet services, even to rural areas. CNET's evaluation considers factors like speed, pricing, and customer service, making this award a notable achievement for Consolidated.
Consolidated Communications Holdings, Inc. (Nasdaq: CNSL) reported first quarter 2024 financial results with revenue totaling $274.7 million. The company saw an increase in consumer broadband revenue and commercial data services revenue. However, net loss was reported at ($47.2 million) with an increase in net interest expense. The company made significant capital expenditures and entered into a term loan agreement. Consolidated also completed the sale of its Washington assets and is pending acquisition by Searchlight Capital Partners, L.P. and British Columbia Investment Management
Consolidated Communications Holdings, Inc. (Nasdaq: CNSL) has finalized the sale of its Washington assets to Palisade Infrastructure on May 1, 2024. The divestiture is part of the Company's strategic asset review and focus on fiber expansion. The Washington operations included around 9,950 data connections, 8,500 access lines, and generated around $20 million in revenue in 2023. Lazard acted as the financial advisor for the transaction.
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