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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
Consolidated Communications Holdings
Consolidated Communications Holdings (CNSL) investor relations material
Consolidated Communications Holdings has been acquired
Consolidated Communications Holdings Q3 2024 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2024 earnings summary5 Nov, 2024
Executive summary
Q3 2024 operating revenues declined 4% year-over-year to $271.1M, with a net loss of $61.4M and adjusted EBITDA of $86.5M, reflecting industry-wide declines and the impact of the Washington operations sale.
Broadband services revenue grew 10% year-over-year, driven by fiber expansion, while video services were discontinued in all markets by July 2024.
The company completed 57,990 new fiber passings in Q3 2024, with 51% of passings now at least 1 Gig capable.
A merger with Searchlight Capital Partners is pending, expected to close in late Q4 2024 or early Q1 2025, taking the company private at $4.70 per share.
Consumer broadband net adds were 5,134 in Q3 2024.
Financial highlights
Q3 2024 net revenues: $271.1M (down 4% year-over-year); nine months: $814.5M (down 2%).
Net loss attributable to common shareholders: $61.4M for Q3 2024, $175.2M for nine months.
Adjusted EBITDA: $86.5M for Q3 2024 (up 8%); $259.2M for nine months (up 11%).
Operating expenses decreased 8% year-over-year, driven by lower video programming, access, and labor costs.
Cash and short-term investments totaled $44M as of September 30, 2024.
Outlook and guidance
Management expects continued investment in fiber network expansion, with capital expenditures focused on broadband growth and success-based projects.
The merger transaction is anticipated to close by early 2025, subject to regulatory approvals.
Cash flows from operations, existing cash, and available borrowings are expected to fund operating requirements for at least the next twelve months.
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Frequently asked questions
Consolidated Communications Holdings Inc. provides broadband and business communications services to residential, commercial, and carrier customers. The company offers high-speed internet, data, cloud services, managed IT, and voice solutions. Its fiber-optic network spans multiple states, enabling advanced connectivity solutions for businesses and consumers. Consolidated Communications also supports wholesale network access for telecommunications carriers. The company is headquartered in Mattoon, Illinois, and its shares are listed on the NASDAQ.