Consolidated Communications Holdings, Inc. - CNSL STOCK NEWS

Consolidated Communications Holdings (CNSL) reported Q1 2021 results, revealing a revenue of $324.8 million, a slight decrease of 0.3% from the previous year. Broadband revenue increased by 2.6% to $1.7 million. The company continues its fiber expansion, upgrading 46,000 passings to Gig+ FTTP, aiming for 70% coverage by 2025. However, net loss was $62.1 million with a GAAP net loss per share of ($0.80). Operating expenses rose by 2.6%, while capital expenditures surged to $76 million due to ongoing network projects. Guidance for 2021 includes capital expenditures between $400 million and $420 million.

Consolidated Communications (NASDAQ: CNSL) has launched 1 Gig broadband services for over 22,000 residential and small business locations in Sacramento and Roseville, California. Utilizing fiber-to-the-premises technology, these services provide improved speeds and capabilities, enhancing remote work and learning experiences. The company emphasizes no data caps or throttling, ensuring customers can use high-bandwidth applications freely. This initiative aligns with Consolidated's five-year plan to upgrade 1.6 million locations to Gigabit speeds, enhancing connectivity in its service areas.

Consolidated Communications (NASDAQ: CNSL) has completed its first 5,000 network upgrades in Brattleboro and Montpelier, Vermont, as part of a five-year plan to expand its fiber-to-the-premises (FTTP) network. The company aims to upgrade 50,000 passings this year and over 200,000 by 2026. Thousands in these cities now have access to gigabit Internet, enhancing remote work and learning. Further expansions are planned in other states, and the company targets upgrading 1.6 million locations across its service area.

Consolidated Communications Holdings, Inc. (CNSL) announced the repricing of its existing term loan, reducing the margin and LIBOR floor by 1.5%. The second amendment refinanced $999.9 million of the term loan at LIBOR plus 3.50%, leading to an estimated annual cash interest savings of $18 million. The funding for this restructuring was supported by a recent $400 million senior secured note offering, resulting in $14 million annual amortization elimination. The company's updated cash interest expense guidance for 2021 is now between $130 million and $135 million, down from $142 million to $152 million.

Consolidated Communications (NASDAQ: CNSL) will release its first quarter 2021 financial results on April 29 before the market opens. A live conference call and webcast will follow at 9 a.m. CT, providing analysts and investors the opportunity to engage in a Q&A session. Interested participants can dial 833-794-0898 with the conference ID 7369367 to join. Consolidated Communications is a top-10 fiber provider in the U.S. with a fiber network spanning 46,300 route miles, offering a variety of communication solutions.

Consolidated Communications (NASDAQ: CNSL) has partnered with the town of Eastbrook, Maine, to construct a high-speed, fiber-to-the-premises (FTTP) Internet network, servicing nearly 500 municipal locations. This project will provide symmetrical Gig speeds, significantly enhancing current Internet availability. Jointly funded by Consolidated and Eastbrook, the construction is set to complete by the end of 2021. This initiative is aligned with Consolidated’s broader expansion plan, which aims to upgrade over 450,000 locations in Maine by 2025, enabling greater access to reliable broadband for residents and businesses.

Consolidated Communications (NASDAQ: CNSL) has been selected to build fiber-to-the-premises (FTTP) networks in eight New Hampshire towns, enhancing local broadband access. These partnerships, approved by residents, will connect over 9,400 homes and businesses to high-speed internet with speeds up to 1 Gig. Public-private partnerships will ensure no tax increases for residents, while Consolidated expands its fiber network, targeting 300,000 upgrades in 2021. This initiative supports economic development and community connectivity.

Consolidated Communications Holdings (NASDAQ: CNSL) announced that its subsidiary, Consolidated Communications, Inc., completed a $400 million offering of 5.000% senior secured notes due 2028. The offering's proceeds will primarily be used to repay existing term loans, along with covering related fees and general corporate purposes. The notes were offered to qualified institutional buyers and are guaranteed by Consolidated and its subsidiaries. This announcement highlights the company's financial strategy amidst market uncertainties and regulatory challenges.

Consolidated Communications Holdings, Inc. (CNSL) announced a $400 million offering of 5.000% senior secured notes due 2028. The notes will pay interest semi-annually and are set to close on March 18, 2021. Proceeds will be used to repay term loans, cover offering expenses, and for general corporate purposes. The notes are being offered to qualified institutional buyers under Rule 144A and will not be registered under the Securities Act. This release serves as informational and does not constitute an offer to sell the notes.