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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 Holdings (CNSL) announced plans to offer $400 million in senior secured notes due 2028 through its subsidiary, Consolidated Communications, Inc. The proceeds will be utilized to repay a portion of existing term loans under a Credit Agreement and for general corporate purposes. The notes will be offered to qualified institutional buyers and will not be registered under the Securities Act. Concurrently, CCI aims to amend the Credit Agreement to refinance remaining term loans and adjust interest rate margins.
Consolidated Communications (CNSL) has appointed Erik Garr as executive vice president and president of its consumer-SMB business unit. With over 25 years of experience, Garr previously held leadership roles at Policygenius, Google Cloud, and Google Fiber. He will spearhead the company's fiber build expansion and oversee customer experience. Additionally, Michael Smith has transitioned to lead the commercial and carrier business unit. This leadership change is marked as a strategic move to enhance network capabilities and customer satisfaction as the company focuses on fiber growth.
Consolidated Communications Holdings (CNSL) announced its Q4 and full-year 2020 results, highlighting a 1.5% revenue decline to $326.1 million. Despite challenges, the company achieved a 3.2% growth in data-transport revenue and a 2.8% increase in broadband revenue. Net loss was $6.8 million, with adjusted diluted net income per share at $0.12. The firm plans to invest $400M to $420M in capital expenditures for its fiber build in 2021, aiming for upgraded broadband services for 70% of its footprint by 2025. The strategic partnership with Searchlight Capital remains a cornerstone of its growth strategy.
Consolidated Communications (CNSL) has completed new fiber-to-the-premises (FTTP) networks in New Hampshire, connecting over 8,000 locations in Cheshire County to high-speed Internet with speeds up to 1 Gig. The $13 million projects, funded partly by a $4 million investment from the company, will support remote work and education without raising local property taxes. Consolidated aims to enhance broadband access in rural areas, collaborating with local authorities and expanding services to thousands more households in the region.
Consolidated Communications (NASDAQ: CNSL) announced its participation in the Morgan Stanley Technology, Media & Telecom Virtual Conference on March 1. CEO Bob Udell and CFO Steve Childers will engage in a fireside chat at 11:45 a.m. ET, followed by one-on-one meetings with investors. The event will be accessible via live webcast on the Company's Investor Relations website. Consolidated Communications is a prominent broadband and business communications provider, operating across 23 states and boasting a fiber network of 46,300 route miles.
Consolidated Communications (NASDAQ: CNSL) will announce its fourth-quarter financial results on February 25 before market opening. A conference call and webcast are scheduled for 9 a.m. CT on the same day to discuss the results. Participants can access the live webcast on the company's Investor Relations website and will have the option for a replay shortly after. Consolidated Communications provides broadband and business communications across 23 states and operates a fiber network exceeding 46,300 miles.
Consolidated Communications (NASDAQ: CNSL) has successfully closed an incremental $150 million term loan, fungible with its existing First Lien Term Loan B expiring in October 2027. The loan bears interest at a rate of LIBOR plus 4.75% per annum, with a 1.0% LIBOR floor. CFO Steve Childers expressed satisfaction with the financing terms, noting that this funding enhances liquidity and supports the company's growth strategy focused on expanding fiber infrastructure.
Consolidated Communications (NASDAQ: CNSL) has partnered with Ciena (NYSE: CIEN) to upgrade its wireline network, enhancing support for 5G services and applications. Utilizing Ciena's Adaptive IPTM solution, Consolidated aims to improve connectivity for customers transitioning to virtual environments. The collaboration will facilitate the introduction of new FlexEthernet-based slicing options, offering managed services without the need for carrier gear. This upgrade promises operational expense savings and expedited deployment of advanced networking capabilities for a growing demand in digital services.
Consolidated Communications (NASDAQ: CNSL) successfully aided Cerasis, a transportation logistics provider, in transitioning 90% of its workforce to remote work in less than a week during the COVID-19 pandemic. This swift action involved approximately 200 employees and ensured business continuity, allowing Cerasis to support its customers effectively. Consolidated's ProConnect Unified Communications solution was a key factor, providing flexibility and enhanced communication tools. The service's capabilities have been recognized with the 2020 Unified Communications Excellence Award.
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