Consolidated Communications Announces First Quarter 2024 Financial Results
First Quarter 2024 Results
-
Revenue totaled
$274.7 million -
Overall consumer revenue was
$114.8 million -
Consumer fiber broadband revenue was
$41.6 million - Total consumer broadband net adds were 6,338
-
Consumer broadband revenue was
$79.9 million -
Commercial data services revenue was
$54.7 million -
Carrier data-transport revenue was
$31.0 million -
Net loss was (
$47.2 million ). Adjusted EBITDA was$88.4 million -
Total committed capital expenditures were
$83.7 million
Cost of services and products and selling, general and administrative expenses collectively decreased
Net interest expense was
Net loss in the first quarter of 2024 was (
Capital Expenditures
Total committed capital expenditures were
Capital Structure
On
As of
Washington Asset Sale
On
Pending Transaction
As previously announced on
In light of the transaction, Consolidated will not host an earnings conference call.
About
Use of Non-GAAP Financial Measures
This press release includes disclosures regarding “EBITDA,” “adjusted EBITDA,” “Net debt leverage ratio,” and “adjusted diluted net income (loss) per share,” all of which are non-GAAP financial measures. Accordingly, they should not be construed as alternatives to net cash from operating or investing activities, cash and cash equivalents, cash flows from operations, net income or net income per share as defined by GAAP and are not, on their own, necessarily indicative of cash available to fund cash needs as determined in accordance with GAAP. In addition, not all companies use identical calculations, and the non-GAAP financial measures may not be comparable to other similarly titled measures of other companies. A reconciliation of these non-GAAP financial measures to the most directly comparable financial measures presented in accordance with GAAP is included in the tables that follow.
Adjusted EBITDA is comprised of EBITDA, adjusted for certain items as permitted or required by the lenders under our credit agreement in place at the end of each quarter in the periods presented. The tables that follow include an explanation of how adjusted EBITDA is calculated for each of the periods presented with the reconciliation to net income (loss). EBITDA is defined as net income (loss) before interest expense, income taxes, depreciation and amortization on a historical basis.
We present adjusted EBITDA for several reasons. Management believes adjusted EBITDA is useful as a means to evaluate our ability to fund our estimated uses of cash (including interest on our debt). In addition, we have presented adjusted EBITDA to investors in the past because it is frequently used by investors, securities analysts and other interested parties in the evaluation of companies in our industry, and management believes presenting it here provides a measure of consistency in our financial reporting. Adjusted EBITDA, referred to as Available Cash in our credit agreement, is also a component of the restrictive covenants and financial ratios contained in our credit agreement that requires us to maintain compliance with these covenants and limit certain activities, such as our ability to incur debt. The definitions in these covenants and ratios are based on Adjusted EBITDA after giving effect to specified charges. In addition, Adjusted EBITDA provides our board of directors with meaningful information, with other data, assumptions and considerations, to measure our ability to service and repay debt. We present the related “Net debt leverage ratio” principally to help investors understand how we measure leverage and facilitate comparisons by investors, security analysts and others. Total net debt is defined as the current and long-term portions of debt and finance lease obligations less cash, cash equivalents and short-term investments, deferred debt issuance costs and discounts on debt. Our Net debt leverage ratio differs in certain respects from the similar ratio used in our credit agreement or against comparable measures of certain other companies in our industry. These measures differ in certain respects from the ratios used in our senior notes indenture.
These non-GAAP financial measures have certain shortcomings. In particular, Adjusted EBITDA does not represent the residual cash flows available for discretionary expenditures, since items such as debt repayment and interest payments are not deducted from such measure. In addition, the Net debt leverage ratio is subject to the risk that we may not be able to use the cash on the balance sheet to reduce our debt on a dollar-for-dollar basis. Management believes this ratio is useful as a means to evaluate our ability to incur additional indebtedness in the future.
We present the non-GAAP measure “adjusted diluted net income (loss) per share” because our net income (loss) and net income (loss) per share are regularly affected by items that occur at irregular intervals or are non-cash items. We believe that disclosing these measures assists investors, securities analysts and other interested parties in evaluating both our company over time and the relative performance of the companies in our industry.
Forward-Looking Statements
Certain statements in this press release, including those relating to the current expectations, plans, strategies, and the timeline for consummating the take private transaction with
Tag: [Consolidated-Communications-Earnings]
|
||||||||
Condensed Consolidated Balance Sheets | ||||||||
(Dollars in thousands, except share and per share amounts) | ||||||||
(Unaudited) | ||||||||
|
|
|||||||
2024 |
2023 |
|||||||
ASSETS | ||||||||
Current assets: | ||||||||
Cash and cash equivalents | $ |
7,363 |
|
$ |
4,765 |
|
||
Accounts receivable, net |
109,353 |
|
121,194 |
|
||||
Income tax receivable |
3,070 |
|
2,880 |
|
||||
Prepaid expenses and other current assets |
62,738 |
|
56,843 |
|
||||
Assets held for sale |
70,971 |
|
70,473 |
|
||||
Total current assets |
253,495 |
|
256,155 |
|
||||
Property, plant and equipment, net |
2,461,004 |
|
2,449,009 |
|
||||
Investments |
8,648 |
|
8,887 |
|
||||
|
814,624 |
|
814,624 |
|
||||
Customer relationships, net |
14,543 |
|
18,616 |
|
||||
Other intangible assets |
10,557 |
|
10,557 |
|
||||
Other assets |
79,371 |
|
70,578 |
|
||||
Total assets | $ |
3,642,242 |
|
$ |
3,628,426 |
|
||
LIABILITIES, MEZZANINE EQUITY AND SHAREHOLDERS' EQUITY | ||||||||
Current liabilities: | ||||||||
Accounts payable | $ |
20,529 |
|
$ |
60,073 |
|
||
Advance billings and customer deposits |
48,579 |
|
44,478 |
|
||||
Accrued compensation |
47,901 |
|
58,151 |
|
||||
Accrued interest |
36,275 |
|
18,694 |
|
||||
Accrued expense |
96,750 |
|
114,022 |
|
||||
Current portion of long-term debt and finance lease obligations |
19,234 |
|
18,425 |
|
||||
Liabilities held for sale |
3,147 |
|
3,402 |
|
||||
Total current liabilities |
272,415 |
|
317,245 |
|
||||
Long-term debt and finance lease obligations |
2,234,667 |
|
2,134,916 |
|
||||
Deferred income taxes |
201,047 |
|
210,648 |
|
||||
Pension and other post-retirement obligations |
136,460 |
|
137,616 |
|
||||
Other long-term liabilities |
46,298 |
|
48,637 |
|
||||
Total liabilities |
2,890,887 |
|
2,849,062 |
|
||||
Series A Preferred Stock, par value |
384,277 |
|
372,590 |
|
||||
Shareholders' equity: | ||||||||
Common stock, par value |
1,184 |
|
1,162 |
|
||||
Additional paid-in capital |
671,241 |
|
681,757 |
|
||||
Accumulated deficit |
(297,876 |
) |
(262,380 |
) |
||||
Accumulated other comprehensive loss, net |
(15,691 |
) |
(21,872 |
) |
||||
Noncontrolling interest |
8,220 |
|
8,107 |
|
||||
Total shareholders' equity |
367,078 |
|
406,774 |
|
||||
Total liabilities, mezzanine equity and shareholders' equity | $ |
3,642,242 |
|
$ |
3,628,426 |
|
|
||||||||
Condensed Consolidated Statements of Operations | ||||||||
(Dollars in thousands, except per share amounts) | ||||||||
(Unaudited) | ||||||||
Three Months Ended | ||||||||
|
||||||||
2024 |
2023 |
|||||||
Net revenues | $ |
274,675 |
|
$ |
276,126 |
|
||
Operating expenses: | ||||||||
Cost of services and products |
113,459 |
|
131,938 |
|
||||
Selling, general and administrative expenses |
83,955 |
|
81,284 |
|
||||
Transaction costs |
2,925 |
|
— |
|
||||
Loss on disposal of assets |
— |
|
3,304 |
|
||||
Depreciation and amortization |
80,633 |
|
77,699 |
|
||||
Loss from operations |
(6,297 |
) |
(18,099 |
) |
||||
Other income (expense): | ||||||||
Interest expense, net of interest income |
(42,451 |
) |
(33,860 |
) |
||||
Other, net |
1,593 |
|
2,758 |
|
||||
Loss before income taxes |
(47,155 |
) |
(49,201 |
) |
||||
Income tax benefit |
(11,772 |
) |
(12,240 |
) |
||||
Net loss |
(35,383 |
) |
(36,961 |
) |
||||
Less: dividends on Series A preferred stock |
11,687 |
|
10,587 |
|
||||
Less: net income attributable to noncontrolling interest |
113 |
|
143 |
|
||||
Net loss attributable to common shareholders | $ |
(47,183 |
) |
$ |
(47,691 |
) |
||
Net loss per basic and diluted common shares attributable to common shareholders | $ |
(0.41 |
) |
$ |
(0.42 |
) |
|
||||||||
Condensed Consolidated Statements of Cash Flows | ||||||||
(Dollars in thousands) | ||||||||
(Unaudited) | ||||||||
Three Months Ended | ||||||||
|
||||||||
2024 |
2023 |
|||||||
OPERATING ACTIVITIES | ||||||||
Net loss | $ |
(35,383 |
) |
$ |
(36,961 |
) |
||
Adjustments to reconcile net loss to net cash provided by operating activities: | ||||||||
Depreciation and amortization |
80,633 |
|
77,699 |
|
||||
Deferred income tax expense (benefit) |
(11,791 |
) |
5,604 |
|
||||
Pension and post-retirement contributions in excess of expense |
(1,702 |
) |
(2,861 |
) |
||||
Non-cash, stock-based compensation |
1,681 |
|
799 |
|
||||
Amortization of deferred financing costs and discounts |
1,957 |
|
1,847 |
|
||||
Loss on disposal of assets |
— |
|
3,304 |
|
||||
Other adjustments, net |
(1,283 |
) |
(418 |
) |
||||
Changes in operating assets and liabilities, net |
(28,442 |
) |
6,073 |
|
||||
Net cash provided by operating activities |
5,670 |
|
55,086 |
|
||||
INVESTING ACTIVITIES | ||||||||
Purchase of property, plant and equipment, net |
(98,032 |
) |
(130,826 |
) |
||||
Proceeds from sale of assets |
76 |
|
292 |
|
||||
Proceeds from sale and maturity of investments |
714 |
|
1,623 |
|
||||
Net cash used in investing activities |
(97,242 |
) |
(128,911 |
) |
||||
FINANCING ACTIVITIES | ||||||||
Proceeds from issuance of long-term debt |
100,000 |
|
— |
|
||||
Payment of finance lease obligations |
(4,837 |
) |
(3,114 |
) |
||||
Payment of financing costs |
(504 |
) |
— |
|
||||
Share repurchases for minimum tax withholding |
(489 |
) |
(1,036 |
) |
||||
Net cash provided by (used in) financing activities |
94,170 |
|
(4,150 |
) |
||||
Net change in cash and cash equivalents |
2,598 |
|
(77,975 |
) |
||||
Cash and cash equivalents at beginning of period |
4,765 |
|
325,852 |
|
||||
Cash and cash equivalents at end of period | $ |
7,363 |
|
$ |
247,877 |
|
|
||||||
Consolidated Revenue by Category | ||||||
(Dollars in thousands) | ||||||
(Unaudited) | ||||||
Three Months Ended | ||||||
|
||||||
2024 |
2023 |
|||||
Consumer: | ||||||
Broadband (Data and VoIP) | $ |
79,882 |
$ |
67,961 |
||
Voice services |
28,336 |
32,263 |
||||
Video services |
6,626 |
9,594 |
||||
114,844 |
109,818 |
|||||
Commercial: | ||||||
Data services (includes VoIP) |
54,681 |
53,134 |
||||
Voice services |
30,711 |
32,631 |
||||
Other |
8,964 |
9,756 |
||||
94,356 |
95,521 |
|||||
Carrier: | ||||||
Data and transport services |
31,048 |
32,923 |
||||
Voice services |
3,794 |
4,367 |
||||
Other |
235 |
350 |
||||
35,077 |
37,640 |
|||||
Subsidies |
6,806 |
7,036 |
||||
Network access |
22,468 |
24,444 |
||||
Other products and services |
1,124 |
1,667 |
||||
Total operating revenue | $ |
274,675 |
$ |
276,126 |
|
|||||||||||||||
Consolidated Revenue Trend by Category | |||||||||||||||
(Dollars in thousands) | |||||||||||||||
(Unaudited) | |||||||||||||||
Three Months Ended | |||||||||||||||
Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | |||||||||||
Consumer: | |||||||||||||||
Broadband (Data and VoIP) | $ |
79,882 |
$ |
76,458 |
$ |
75,089 |
$ |
71,339 |
$ |
67,961 |
|||||
Voice services |
28,336 |
29,935 |
31,616 |
31,352 |
32,263 |
||||||||||
Video services |
6,626 |
7,460 |
8,541 |
9,362 |
9,594 |
||||||||||
114,844 |
113,853 |
115,246 |
112,053 |
109,818 |
|||||||||||
Commercial: | |||||||||||||||
Data services (includes VoIP) |
54,681 |
54,473 |
53,870 |
53,230 |
53,134 |
||||||||||
Voice services |
30,711 |
31,217 |
31,825 |
32,236 |
32,631 |
||||||||||
Other |
8,964 |
10,521 |
9,228 |
10,378 |
9,756 |
||||||||||
94,356 |
96,211 |
94,923 |
95,844 |
95,521 |
|||||||||||
Carrier: | |||||||||||||||
Data and transport services |
31,048 |
31,713 |
31,388 |
31,224 |
32,923 |
||||||||||
Voice services |
3,794 |
2,868 |
4,090 |
4,263 |
4,367 |
||||||||||
Other |
235 |
243 |
262 |
313 |
350 |
||||||||||
35,077 |
34,824 |
35,740 |
35,800 |
37,640 |
|||||||||||
Subsidies |
6,806 |
6,902 |
6,878 |
7,072 |
7,036 |
||||||||||
Network access |
22,468 |
22,217 |
20,842 |
22,747 |
24,444 |
||||||||||
Other products and services |
1,124 |
1,171 |
10,025 |
1,646 |
1,667 |
||||||||||
Total operating revenue | $ |
274,675 |
$ |
275,178 |
$ |
283,654 |
$ |
275,162 |
$ |
276,126 |
|
||||||||
Reconciliation of Net Loss to Adjusted EBITDA | ||||||||
(Dollars in thousands) | ||||||||
(Unaudited) | ||||||||
Three Months Ended | ||||||||
|
||||||||
2024 |
2023 |
|||||||
Net loss | $ |
(35,383 |
) |
$ |
(36,961 |
) |
||
Add (subtract): | ||||||||
Income tax benefit |
(11,772 |
) |
(12,240 |
) |
||||
Interest expense, net |
42,451 |
|
33,860 |
|
||||
Depreciation and amortization |
80,633 |
|
77,699 |
|
||||
EBITDA |
75,929 |
|
62,358 |
|
||||
Adjustments to EBITDA (1): | ||||||||
Other, net (2) |
10,727 |
|
10,030 |
|
||||
Pension/OPEB benefit |
62 |
|
(1,141 |
) |
||||
Loss on disposal of assets |
— |
|
3,304 |
|
||||
Non-cash compensation (3) |
1,681 |
|
799 |
|
||||
Adjusted EBITDA | $ |
88,399 |
|
$ |
75,350 |
|
||
Notes: | ||||||||
(1) These adjustments reflect those required or permitted by the lenders under our credit agreement. | ||||||||
(2) Other, net includes income attributable to noncontrolling interests, transaction and non-recurring related costs, and certain miscellaneous items. | ||||||||
(3) Represents compensation expenses in connection with our Restricted Share Plan, which because of the non-cash nature of the expenses are excluded from adjusted EBITDA. |
|
|||||||||
Reconciliation of Loss Attributable to Common Shareholders to Adjusted Loss and Calculation of Adjusted Diluted Net Loss Per Common Share | |||||||||
(Dollars in thousands, except per share amounts) | |||||||||
(Unaudited) | |||||||||
Three Months Ended | |||||||||
|
|||||||||
2024 |
2023 |
||||||||
Net loss | $ |
(35,383 |
) |
$ |
(36,961 |
) |
|||
Less: dividends on Series A preferred stock |
11,687 |
|
10,587 |
|
|||||
Less: net income attributable to noncontrolling interest |
113 |
|
143 |
|
|||||
Net loss attributable to common shareholders |
(47,183 |
) |
(47,691 |
) |
|||||
Adjustments to net loss attributable to common shareholders: | |||||||||
Dividends on Series A preferred stock |
11,687 |
|
10,587 |
|
|||||
Transaction and severance related costs, net of tax |
3,191 |
|
2,648 |
|
|||||
Loss on disposition of assets, net of tax |
— |
|
2,441 |
|
|||||
Non-cash interest expense for swaps, net of tax |
— |
|
(338 |
) |
|||||
Non-cash stock compensation, net of tax |
1,241 |
|
590 |
|
|||||
Adjusted net loss | $ |
(31,064 |
) |
$ |
(31,763 |
) |
|||
Weighted average number of common shares outstanding |
114,134 |
|
112,939 |
|
|||||
Adjusted diluted net loss per common share | $ |
(0.27 |
) |
$ |
(0.28 |
) |
|||
Notes: | |||||||||
Calculations above assume a 26.1% effective tax rate for each of the three months ended |
|
||||
Reconciliation of Total Net Debt to LTM Adjusted EBITDA Ratio | ||||
(Dollars in thousands) | ||||
(Unaudited) | ||||
|
||||
2024 |
||||
Long-term debt and finance lease obligations: | ||||
Term loans, net of discount |
$ |
993,290 |
|
|
6.50% Senior secured notes due 2028 |
750,000 |
|
||
5.00% Senior secured notes due 2028 |
400,000 |
|
||
Revolving loan |
100,000 |
|
||
Finance leases |
38,347 |
|
||
Total debt as of |
2,281,637 |
|
||
Less: deferred debt issuance costs |
(27,736 |
) |
||
Less: cash, cash equivalents and short-term investments |
(7,363 |
) |
||
Total net debt as of |
$ |
2,246,538 |
|
|
Adjusted EBITDA for the 12 months ended |
$ |
332,248 |
|
|
Total Net Debt to last 12 months Adjusted EBITDA | 6.76x |
|
|||||||||||||||||||||||||||||
Key Operating Metrics | |||||||||||||||||||||||||||||
(Unaudited) | |||||||||||||||||||||||||||||
2023 |
|
|
|
|
|
||||||||||||||||||||||||
FY 2022 | Q1 | Q2 | Q3 | Q4 | FY | Q1 2024 | |||||||||||||||||||||||
Passings | |||||||||||||||||||||||||||||
Total Fiber Gig+ Capable Passings (1)(2)(3) |
1,008,660 |
|
1,062,518 |
|
1,119,956 |
|
1,187,076 |
|
1,236,208 |
|
1,236,208 |
|
1,246,991 |
|
|||||||||||||||
Total DSL/Copper Passings (2)(3) |
1,617,077 |
|
1,564,889 |
|
1,509,875 |
|
1,447,539 |
|
1,401,535 |
|
1,401,535 |
|
1,392,698 |
|
|||||||||||||||
Total Passings (1)(2)(3) |
2,625,737 |
|
2,627,407 |
|
2,629,831 |
|
2,634,615 |
|
2,637,743 |
|
2,637,743 |
|
2,639,689 |
|
|||||||||||||||
% Fiber Gig+ Coverage/Total Passings |
38 |
% |
40 |
% |
43 |
% |
45 |
% |
47 |
% |
47 |
% |
47 |
% |
|||||||||||||||
Consumer Broadband Connections | |||||||||||||||||||||||||||||
Fiber Gig+ Capable |
122,872 |
|
135,209 |
|
153,860 |
|
175,748 |
|
195,195 |
|
195,195 |
|
213,997 |
|
|||||||||||||||
DSL/Copper |
244,586 |
|
234,653 |
|
222,969 |
|
210,473 |
|
198,024 |
|
198,024 |
|
185,560 |
|
|||||||||||||||
Total Consumer Broadband Connections |
367,458 |
|
369,862 |
|
376,829 |
|
386,221 |
|
393,219 |
|
393,219 |
|
399,557 |
|
|||||||||||||||
Consumer Broadband Net Adds | |||||||||||||||||||||||||||||
Total Fiber Gig+ Capable Net Adds (5) |
40,075 |
|
12,337 |
|
18,651 |
|
21,888 |
|
19,447 |
|
72,323 |
|
18,802 |
|
|||||||||||||||
DSL/Copper Net Adds (5) |
(39,351 |
) |
(9,933 |
) |
(11,684 |
) |
(12,496 |
) |
(12,449 |
) |
(46,562 |
) |
(12,464 |
) |
|||||||||||||||
Total Consumer Broadband Net Adds (5) |
724 |
|
2,404 |
|
6,967 |
|
9,392 |
|
6,998 |
|
25,761 |
|
6,338 |
|
|||||||||||||||
Consumer Broadband Penetration % | |||||||||||||||||||||||||||||
Fiber Gig+ Capable (on fiber passings) |
12.2 |
% |
12.7 |
% |
13.7 |
% |
14.8 |
% |
15.8 |
% |
15.8 |
% |
17.2 |
% |
|||||||||||||||
DSL/Copper (on DSL/copper passings) |
15.1 |
% |
15.0 |
% |
14.8 |
% |
14.5 |
% |
14.1 |
% |
14.1 |
% |
13.3 |
% |
|||||||||||||||
Total Consumer Broadband Penetration % |
14.0 |
% |
14.1 |
% |
14.3 |
% |
14.7 |
% |
14.9 |
% |
14.9 |
% |
15.1 |
% |
|||||||||||||||
Consumer Average Revenue Per Unit (ARPU) | |||||||||||||||||||||||||||||
Fiber Gig+ Capable | $ |
65.42 |
|
$ |
67.51 |
|
$ |
68.29 |
|
$ |
68.78 |
|
$ |
68.14 |
|
$ |
66.90 |
|
$ |
67.96 |
|
||||||||
DSL/Copper | $ |
53.36 |
|
$ |
53.21 |
|
$ |
55.88 |
|
$ |
57.18 |
|
$ |
56.27 |
|
$ |
55.83 |
|
$ |
59.69 |
|
||||||||
Churn | |||||||||||||||||||||||||||||
Fiber Consumer Broadband Churn (5) |
1.1 |
% |
1.0 |
% |
1.3 |
% |
1.3 |
% |
1.2 |
% |
1.2 |
% |
1.1 |
% |
|||||||||||||||
DSL/Copper Consumer Broadband Churn (5) |
1.6 |
% |
1.5 |
% |
1.7 |
% |
2.0 |
% |
2.0 |
% |
1.8 |
% |
2.0 |
% |
|||||||||||||||
Consumer Broadband Revenue ($ in thousands) | |||||||||||||||||||||||||||||
Fiber Broadband Revenue (4) | $ |
82,034 |
|
$ |
26,136 |
|
$ |
29,613 |
|
$ |
34,004 |
|
$ |
37,916 |
|
$ |
127,668 |
|
$ |
41,613 |
|
||||||||
Copper and Other Broadband Revenue |
190,112 |
|
41,825 |
|
41,726 |
|
41,085 |
|
38,542 |
|
163,179 |
|
38,268 |
|
|||||||||||||||
Total Consumer Broadband Revenue | $ |
272,146 |
|
$ |
67,961 |
|
$ |
71,339 |
|
$ |
75,089 |
|
$ |
76,458 |
|
$ |
290,847 |
|
$ |
79,882 |
|
||||||||
Consumer Voice Connections |
276,779 |
|
267,509 |
|
258,680 |
|
249,081 |
|
239,587 |
|
239,587 |
|
229,523 |
|
|||||||||||||||
Video Connections |
35,039 |
|
32,426 |
|
28,934 |
|
26,158 |
|
21,900 |
|
21,900 |
|
17,620 |
|
|||||||||||||||
Fiber route network miles (long-haul, metro and FttP) |
57,865 |
|
57,569 |
|
58,836 |
|
59,915 |
|
60,438 |
|
60,438 |
|
61,366 |
|
|||||||||||||||
On-net buildings |
14,427 |
|
14,520 |
|
14,735 |
|
14,928 |
|
15,105 |
|
15,105 |
|
15,254 |
|
|||||||||||||||
Notes: | |||||||||||||||||||||||||||||
(1) In Q1 2021, the Company launched a multi-year fiber build plan to upgrade 1.6 million passings or 70% of our service area to fiber Gig+ capable services. During the quarter ended |
|||||||||||||||||||||||||||||
(2) Passings counts are estimates of single family units, multi-dwelling units, and multi-tenant units within consumer, small business and enterprise. These counts are based upon the information available at this time and are subject to updates as additional information becomes available. | |||||||||||||||||||||||||||||
(3) When a passing is both fiber and DSL/Copper capable it is counted as a fiber passing. | |||||||||||||||||||||||||||||
(4) Fiber broadband revenue includes revenue from our |
|||||||||||||||||||||||||||||
(5) Consumer Broadband net adds and churn for the year ended |
View source version on businesswire.com: https://www.businesswire.com/news/home/20240506543676/en/
Investor and Media Contacts
+1 217-238-8480
Philip.kranz@consolidated.com
+1 507-386-3765
Jennifer.spaude@consolidated.com
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