Consolidated Communications Holdings, Inc. - CNSL STOCK NEWS

Consolidated Communications (NASDAQ: CNSL) has completed the construction of new fiber-to-the-premises broadband networks in Danbury, Errol, Mason, and Springfield, New Hampshire, benefiting over 2,000 residents and businesses. This project involved over 500 miles of fiber installation and was supported by a $3.5 million state grant as part of the Emergency Broadband Expansion Program, along with the company’s investment of $1.5 million. Consolidated plans to upgrade 300,000 locations in 2021, aiming to enhance Internet access for remote work and education.

Consolidated Communications (CNSL) announced plans to extend its fiber coverage to 70% of its service area within five years, focusing on rural consumers and small businesses. The company will accelerate fiber builds to add gigabit-capable services to an additional 300,000 homes in 2021 and upgrade 1.6 million passings over five years. Consolidated has secured $58.9 million in funding from the RDOF to support this initiative, along with a recent refinancing that reduced leverage to 3.5x. The effort aims to enhance broadband access significantly and provide competitive services.

Consolidated Communications (NASDAQ: CNSL) has announced a new educational grant program, Consolidated Connects, aimed at K-12 schools in its service area. The initiative focuses on technology-based learning, enhancing students' critical thinking skills essential for academic success. In its first grant cycle, priority will be given to projects addressing virtual learning gaps. Applications are open until January 6, 2021, supporting innovative educational projects that leverage technology to enrich student learning experiences.

Consolidated Communications (Nasdaq: CNSL) announced that CEO Bob Udell will present at the Wells Fargo TMT Summit on December 1 at 8:40 a.m. ET. The company will also conduct one-on-one meetings during the event. Interested parties can access a live webcast and presentation materials on Consolidated's Investor Relations website.

With a robust fiber network of 46,300 route miles, Consolidated is a top-10 fiber provider in the U.S., offering high-speed Internet, managed services, and more across a 23-state service area.

Consolidated Communications Holdings, Inc. (CNSL) reported its Q3 2020 results, highlighting revenue of $327.1 million, a 1.9% decline year-over-year. Adjusted EBITDA rose 1% to $132.2 million. Consumer Broadband revenue grew by 2.6%, marking six consecutive growth quarters. Operating expenses decreased by $7.2 million, driving net income to $14.6 million, significantly up from $389,000 a year ago. The successful global debt refinancing improved liquidity and reduced net debt leverage to 4.0x.

Consolidated Communications (NASDAQ: CNSL) is partnering with the National Cybersecurity Alliance this October to promote cybersecurity awareness, aiming to educate businesses and consumers on how to protect themselves from online threats such as scams and ransomware. The initiative highlights accessible educational resources and emphasizes the critical role individuals play in cybersecurity. Experts warn that many employees lack awareness of cybersecurity risks, with a significant percentage unaware that suspicious email interactions can lead to malware infections. Consolidated offers various cybersecurity solutions and assessments for businesses.

Consolidated Communications (NASDAQ: CNSL) has expanded its Microsoft 365 services, offering businesses a comprehensive cloud-based platform for enhanced productivity and collaboration. The suite includes Microsoft Teams for video meetings and file sharing, catering to businesses of all sizes. Eric Nevalainen, IT Manager of Local #49 of the IUOE, emphasized the suite's importance during the COVID-19 pandemic for communication among 14,000 members. The services come with no upfront costs, leveraging Consolidated's robust fiber network across 23 states.

Consolidated Communications (CNSL) will release its third quarter financial results on Oct. 29, 2020, before market opening. A conference call to discuss the results will be held at 9 a.m. CT on the same day. The call will be available via live webcast on the company's Investor Relations website and can be replayed shortly after. Interested participants can join by dialing 877-374-3981 with conference ID 7219487. A playback option will also be accessible until Nov. 5 by calling 855-859-2056.

Consolidated Communications (CNSL) has secured an initial $350 million investment from Searchlight Capital Partners as part of a total commitment of $425 million. The investment will enhance liquidity and support fiber expansion, aiming to deliver broadband services to over 1 million customers. The company completed a global refinancing, raising $2.25 billion in secured debt, which improves its leverage profile and extends debt maturities to late 2027. Following the investment, the company expects to see significant growth in revenue and operational flexibility.