Consolidated Communications Holdings Inc

NASDAQ:CNSLUnited States

Nov 5, 2024

Show headlines and story abstract

• *DJ Consolidated Comms 3Q Adj Loss/Shr 33c >CNSL, from 8:00AM ET on Tuesday Nov 05, 2024 by Dow Jones

  8:00AM ET on Tuesday Nov 05, 2024 by Dow Jones
  Companies Mentioned: CNSL

• Consolidated Communications Announces Third Quarter 2024 Financial Results, from 8:00AM ET on Tuesday Nov 05, 2024 by Dow Jones

  8:00AM ET on Tuesday Nov 05, 2024 by Dow Jones
  Companies Mentioned: CNSL
  ---------- ---------- ---------- ---------- ---------- ---------- ---------- ---------- ---------- Passings --------------------- Total Fiber Gig+ Capable Passings (1)(2)(3)(5) 1,008,660 1,062,518 1,119,956 1,187,076 1,236,208 1,236,208 1,246,991 1,273,926 1,331,916 Total DSL/Copper Passings (2)(3)(5) 1,617,077 1,564,889 1,509,875 1,447,539 1,401,535 1,401,535 1,392,698 1,324,438 1,268,118 --------- --------- --------- --------- --------- --------- --------- --------- --------- Total Passings (1)(2)(3)(5) 2,625,737 2,627,407 2,629,831 2,634,615 2,637,743 2,637,743 2,639,689 2,598,364 2,600,034 --------- --------- --------- --------- --------- --------- --------- --------- --------- % Fiber Gig+ Coverage/Total Passings 38% 40% 43% 45% 47% 47% 47% 49% 51% Consumer Broadband Connections --------------------- Fiber Gig+ Capable (5) 122,872 135,209 153,860 175,748 195,195 195,195 213,997 231,187 249,656 DSL/Copper (5) 244,586 234,653 222,969 210,473 198,024 198,024 185,560 163,199 149,864 --------- --------- --------- --------- --------- --------- --------- --------- --------- Total Consumer Broadband Connections (5) 367,458 369,862 376,829 386,221 393,219 393,219 399,557 394,386 399,520 --------- --------- --------- --------- --------- --------- --------- --------- --------- Consumer Broadband Net Adds --------------------- Total Fiber Gig+ Capable Net Adds (6) 40,075 12,337 18,651 21,888 19,447 72,323 18,802 17,759 18,469 DSL/Copper Net Adds (6) (39,351) (9,933) (11,684) (12,496) (12,449) (46,562) (12,464) (14,089) (13,335) --------- --------- --------- --------- --------- --------- --------- --------- --------- Total Consumer Broadband Net Adds (6) 724 2,404 6,967 9,392 6,998 25,761 6,338 3,670 5,134 Consumer Broadband Penetration % --------------------- Fiber Gig+ Capable (on fiber passings) 12.2% 12.7% 13.7% 14.8% 15.8% 15.8% 17.2% 18.1% 18.7% DSL/Copper (on DSL/copper passings) 15.1% 15.0% 14.8% 14.5% 14.1% 14.1% 13.3% 12.3% 11.8% Total Consumer Broadband Penetration % 14.0% 14.1% 14.3% 14.7% 14.9% 14.9% 15.1% 15.2% 15.4% Consumer Average Revenue Per Unit (ARPU) --------------------- Fiber Gig+ Capable $ 65.42 $ 67.51 $ 68.29 $ 68.78 $ 68.14 $ 66.90 $ 67.96 $ 67.95 $ 68.00 DSL/Copper $ 53.36 $ 53.21 $ 55.88 $ 57.18 $ 56.27 $ 55.83 $ 59.69 $ 60.88 $ 62.63 Churn --------------------- Fiber Consumer Broadband Churn (6) 1.1% 1.0% 1.3% 1.3% 1.2% 1.2% 1.1% 1.4% 1.4% DSL/Copper Consumer Broadband Churn (6) 1.6% 1.5% 1.7% 2.0% 2.0% 1.8% 2.0% 2.4% 2.5% Consumer Broadband Revenue ($ in thousands) --------------------- Fiber Broadband Revenue (4) $ 82,034 $ 26,136 $ 29,613 $ 34,004 $ 37,916 $ 127,668 $ 41,613 $ 45,414 $ 48,966 Copper and Other Broadband Revenue 190,112 41,825 41,726 41,085 38,542 163,179 38,268 35,992 33,411 --------- --------- --------- --------- --------- --------- --------- --------- --------- Total Consumer Broadband Revenue $ 272,146 $ 67,961 $ 71,339 $ 75,089 $ 76,458 $ 290,847 $ 79,882 $ 81,406 $ 82,377 Consumer Voice Connections (5) 276,779 267,509 258,680 249,081 239,587 239,587 229,523 213,472 203,231 Video Connections 35,039 32,426 28,934 26,158 21,900 21,900 17,620 134 -- Fiber route network miles (long-haul, metro and FttP) 57,865 57,569 58,836 59,915 60,438 60,438 61,366 63,343 65,561 On-net buildings 14,427 14,520 14,735 14,928 15,105 15,105 15,254 15,381 15,566 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 three and nine months ended September 30, 2024, an additional 57,990 and 101,734 passings were upgraded to FttP, respectively, and total fiber passings were 1,331,916 or 51% of the Company's service area at September 30, 2024. (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 Kansas City operations, which was sold in the fourth quarter of 2022, of approximately $1.8 million for the year ended December 31, 2022. Amounts have not been adjusted to reflect the sale. (5) The sale of our Washington operations in the second quarter of 2024 resulted in a reduction of approximately 37,679 DSL/Copper passings, 6,026 fiber passings, 8,272 DSL/Copper broadband connections, 569 fiber broadband connections, and 4,674 consumer voice connections. Prior period amounts have not been adjusted to reflect the sale. (6) Consumer Broadband net adds and churn for the year ended December 31, 2022 have been normalized to reflect the divestitures of our Kansas City and Ohio operations, which were sold in 2022. Additionally, for the three months ended June 30, 2024, Consumer Broadband net adds and churn have been normalized to reflect the divestiture of the Washington operations, which was sold in the second quarter of 2024.