Consolidated Communications Holdings, Inc. - CNSL STOCK NEWS

Consolidated Communications (CNSL) announced strong progress in its fiber expansion, exceeding its 2021 target by upgrading 330,000 locations to Gigabit+ speeds. The company reported Q4 2021 revenue of $318.5 million and net income of $15 million, a significant improvement from a net loss the previous year. The company is focused on its fiber-first strategy, planning to upgrade an additional 400,000 locations in 2022 and aims for 1 million total by 2025. Recent asset sales, including $26 million from Ohio operations, will support further investments.

Consolidated Communications has announced an agreement to sell its Kansas City assets to Alinda Capital Partners for cash. This strategic divestiture focuses on enhancing the company's fiber expansion plans in core regions. The Kansas City operations encompass about 19,000 consumer subscribers and generated roughly $50 million in revenue for fiscal 2021. The sale is subject to regulatory approvals and is expected to close in the second half of 2022. Consolidated's CEO emphasizes that this move aligns with their goal to either invest in fiber expansion or monetize assets without impacting their broader growth strategy.

Consolidated Communications (NASDAQ: CNSL) has secured an $18.3 million grant from the National Telecommunications and Information Administration (NTIA) to expand its Fidium fiber internet service to 22,000 rural homes and businesses in Maine. This project is part of the Connect Maine Partnership and aims to enhance broadband presence in underserved regions, significantly contributing to economic growth and improved quality of life. Consolidated plans to deliver gigabit internet by 2025, expanding to more than 70% of its service area.

Consolidated Communications (NASDAQ: CNSL) has successfully completed the sale of its Ohio assets to Hanson Communications. This divestiture is part of the company's strategic review to focus on fiber expansion in core regions. The Ohio operations generated approximately $9 million in revenue during fiscal year 2021, encompassing about 4,000 access lines and 3,900 Internet connections. More details regarding this transaction will be disclosed during the upcoming fourth quarter earnings call on March 3.

Consolidated Communications (NASDAQ: CNSL) will announce its fourth quarter 2021 financial results on March 3, before market opening. A live conference call is scheduled for 9 a.m. CT on the same day, allowing analysts and investors to participate and ask questions. A replay will be available till March 10. Consolidated Communications offers reliable communications solutions, including high-speed internet and data services, supported by a fiber network of over 50,000 route miles.

Consolidated Communications (NASDAQ: CNSL) is focusing on educating parents about data privacy as children’s screen time has doubled to an average of 7.7 hours daily, according to a JAMA Pediatrics study. In response, the company is providing age-appropriate tips on its Stay Safe Online resource during Data Privacy Week (Jan. 24-28, 2022). With 76% of individuals reporting confusion over data usage, Consolidated aims to promote safe online practices, emphasizing the importance of teaching children about data privacy.

Consolidated Communications (CNSL) has appointed Marissa Solis to its Board of Directors, effective January 24, 2022. Solis brings over 25 years of experience in consumer brand and marketing, currently serving as senior vice president at the NFL. Her previous roles include leadership positions at Deloitte and Pepsico, spearheading an $18 billion portfolio. Recognized by Ad Age as one of the Most Powerful Women in Sports in 2021, Solis aims to enhance the company's fiber growth strategy and customer engagement.

Consolidated Communications (NASDAQ: CNSL) has announced $42,000 in grants to K-12 schools aimed at enhancing technology-focused educational initiatives through its Consolidated Connects Educational Grant Program. This funding is part of a larger commitment, following a total of $60,000 awarded in the previous year. The grants support various innovative programs, including STEAM labs and robotics classes, across multiple states, showcasing the company's dedication to fostering student learning and critical thinking skills.