Consolidated Communications Holdings, Inc. - CNSL STOCK NEWS

Consolidated Communications (NASDAQ: CNSL) is promoting Cybersecurity Awareness Month, emphasizing online safety and privacy for October. The initiative aims to educate individuals and communities on cybersecurity practices. Senior director Aaron Reason highlighted the company's commitment to keeping customers connected and secure. The event, co-led by the National Cyber Security Alliance and the Cybersecurity and Infrastructure Agency, aims to enhance national resilience against cyber threats.

Consolidated Communications (NASDAQ: CNSL) has announced an agreement to sell its Ohio assets to Middle Point Home Telephone Company. This divestiture aligns with Consolidated's strategic focus on core broadband regions. The Ohio operations generated approximately $9 million in revenue in fiscal 2020 and include around 4,000 access lines and 3,900 Internet connections. The transaction is subject to regulatory approvals, anticipated to be completed by year-end, with further details to be provided during the Q3 2021 earnings call.

The International Brotherhood of Electrical Workers and the Communication Workers of America have ratified new four-year labor agreements with Consolidated Communications, impacting approximately 900 workers in Northern New England. These agreements, effective until August 9, 2025, aim to enhance customer experience and support the company's fiber growth strategy, according to CEO Bob Udell. The contracts are designed to provide operational flexibility to meet customer needs while improving the company's sustainability.

Consolidated Communications (NASDAQ: CNSL) announced tentative four-year agreements with the International Brotherhood of Electrical Workers (IBEW) and Communication Workers of America (CWA), impacting approximately 900 workers in Northern New England. The agreements await ratification by union members and signal a commitment to job security and competitive benefits. CEO Bob Udell expressed satisfaction with the negotiations, highlighting a strong partnership with union leadership and a focus on progress in the region.

Consolidated Communications (CNSL) reported its Q2 2021 results, showcasing a revenue of $320.4 million, a slight decrease from the prior year. Broadband revenue saw a growth of 3.7%, while a notable decline in voice services brought a 5.9% drop. Operating expenses increased 4.9% to $214.3 million, leading to a 24.5% decrease in operating income to $30 million. A net loss of $55.1 million was reported compared to a profit of $13.9 million a year prior. The company affirmed its 2021 outlook, with capital expenditures projected between $400 million and $420 million.

Consolidated Communications (NASDAQ: CNSL) has made significant strides in expanding its fiber internet services, connecting 122,000 homes and small businesses in the first half of 2021. The company aims to achieve 300,000 gigabit speed connections by year-end. The five-year expansion plan targets over 70% of its service area, emphasizing symmetrical, multi-gig speeds. Consolidated's service delivers speeds 20 times faster than the national average, with competitive pricing starting at $70/month for 1-gig service, including a one-year price lock.

Consolidated Communications (Nasdaq: CNSL) has announced that Bob Udell, CEO, and CFO Steve Childers will present at the 7th Annual Cowen Communications Infrastructure Summit on August 10. They will participate in a virtual fireside chat at 3:25 p.m. MT and engage in one-to-one meetings with investors. A live webcast of the event and presentation materials will be available on the Company’s Investor Relations website.

Consolidated is a leading broadband provider, offering high-speed internet, data, phone, and other solutions across nearly 50,000 fiber route miles.

Consolidated Communications (NASDAQ: CNSL) has received all necessary state Public Utilities Commission approvals for its conversion of the contingent payment right (CPR) linked to Searchlight Capital Partners' $350 million investment from October 2020. Searchlight now holds around 24.5% of CNSL's outstanding shares, with plans for a second closing of the investment to add an additional $75 million and 15 million shares, pending FCC approval. This partnership aims to enhance long-term value for shareholders and accelerate the company's fiber expansion.

Consolidated Communications (NASDAQ: CNSL) is expanding its fiber internet service to over 30,000 residents and businesses across several Vermont locations by the end of September. This rollout includes symmetrical 1-gig service available for $70 per month, featuring no data caps or throttling. The company aims to bring multi-gig fiber internet to 70% of its service area by 2025, with 200,000 Vermonters having access by that year. The investment in fiber infrastructure is positioned to enhance connectivity and drive economic development in these communities.