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Consolidated Communications (CNSL) announced that its board has received a non-binding proposal from Searchlight Capital Partners and British Columbia Investment Management Corporation to acquire all outstanding shares not owned by them for $4.00 each. Searchlight currently holds 34.3% of shares. The board plans to form a special committee of independent directors to evaluate this proposal and any alternative options. The proposal is contingent upon approval from a special committee and a majority of shares not owned by the Searchlight Group. Shareholders are cautioned that the proposal is non-binding, and no agreements have been made yet regarding the transaction.
Consolidated Communications has launched its Fidium Fiber service in the Farmington and Blue Hill Peninsula areas of Maine, expanding high-speed internet access to over 16,000 homes and small businesses. This initiative is part of a broader plan to serve more than 164,000 locations across Maine.
The fiber network, providing symmetrical multi-gigabit speeds without contracts or data caps, is supported by a grant from the National Telecommunications and Information Administration. Current promotions include discounted rates for the first year and one free month of service for new customers.
Consolidated Communications (NASDAQ: CNSL) has released its 2022 Environmental, Social and Governance (ESG) Report, which outlines the company's commitment to sustainability and community impact. Key highlights include:
- $601 million invested in capital expenditures to enhance broadband services across rural areas, surpassing 1 million fiber locations.
- Formation of a DEI Council and implementation of an annual unconscious bias training for employees.
- Increased renewable energy usage and tracking of greenhouse gas emissions.
- Contributions exceeding $1.8 million to over 450 community organizations.
- Completion of 36,600 training modules focused on safety and compliance.
These initiatives reflect the company’s strategy to build a sustainable business while supporting its employees and communities.
Consolidated Communications (CNSL) will announce its first quarter 2023 financial results on May 2 before market open. A live conference call is scheduled for 7:30 a.m. CT on the same day, where analysts can participate and ask questions. The earnings release, along with an investor presentation and related materials, will be accessible on the company's Investor Relations website. A phone replay of the call will be available until May 9.
Consolidated Communications (NASDAQ: CNSL) announced that its CEO Bob Udell will participate in a fireside chat at New Street Research’s Second Annual Fiber to the Future Conference on Tuesday, March 28, 2023, at 1:45 p.m. ET. The event will include small group meetings with investors, and a live webcast link will be available on Consolidated’s Investor Relations website. Consolidated Communications is recognized as a top 10 U.S. fiber provider, offering reliable communications solutions spanning over 58,000 fiber route miles, including high-speed internet, data, and phone services.
Consolidated Communications (Nasdaq: CNSL) will participate in the 2023 J.P. Morgan Global High Yield & Leveraged Finance Conference on March 7, 2023. CEO Bob Udell is scheduled to present at 11:30 a.m. ET. Investors can access the presentation on the company’s investor relations website, though it will not be available via webcast.
Consolidated Communications is a leading provider of reliable fiber solutions, covering over 58,000 fiber route miles. The company focuses on high-speed internet, data, phone, and cloud solutions for various sectors including consumers and businesses.
Consolidated Communications (CNSL) reported strong growth in consumer fiber broadband for FY 2022, achieving 37% revenue growth, driven by 40,100 net new subscribers and a 4.5% increase in ARPU. The company completed over 400,000 upgrades, reaching one million Gigabit-capable locations. However, total revenue for Q4 2022 was $296 million, a 7.1% decline year-over-year. Net loss from continuing operations stood at $40.8 million, compared to a profit in Q4 2021. The leadership team was strengthened with new executives, aiming for 2023 growth. The company anticipates adjusted EBITDA of $310-$330 million for FY 2023, amid ongoing capital expenditures of $425-$445 million.
Consolidated Communications (NASDAQ: CNSL) is set to enhance internet access in rural Maine by deploying its Fidium multi-gig fiber internet service to over 15,800 homes and businesses, backed by nearly $17 million in grants from the Maine Connectivity Authority (MCA). The initiative aims to bridge the digital divide, particularly in underserved communities, and includes a collaboration with local towns like Skowhegan and Madison. Additional funding of $8.1 million will extend fiber service to 3,300 homes in various areas. Consolidated has successfully connected 147,000 homes to fiber since 2021.