Consolidated Communications Holdings, Inc.NASDAQ
Mon, Dec. 5, 7:17 AM
- Consolidated Communications (NASDAQ:CNSL) announces that it acquired FairPoint Communications (NASDAQ:FRP) for ~$1.5B, including debt.
- “This transaction combines two companies with extensive fiber networks and complementary strategies focusing on being the leading business and broadband solutions provider,” says Consolidated CEO Bob Udell.
- Under the terms of the deal, FairPoint shareholders will receive a fixed exchange ratio of 0.7300 shares of Consolidated Communications stock for each share of FairPoint held. After closing, Consolidated’s shareholders will own approximately 71.3% of the pro forma combined company and FairPoint’s shareholders will own 28.7%.
- The company says the transaction is expected to generate annual operating synergies of ~$55M, which are expected to be achieved within two years after completion of the merger.
- Source: Press Release
Thu, Nov. 3, 11:39 AM
- Consolidated Communications (NASDAQ:CNSL) is 2.2% higher today after its Q3 revenues beat expectations despite a slight Y/Y decline.
- Income from operations grew to $22.7M; adjusted EBITDA was $77.1M, missing an expected $78M.
- Revenue breakout: Commercial and carrier, $78.2M (up 3.1%); Consumer, $65.1M (down 4.4%); Equipment sales and service, $17.7M (up 19.9%); Subsidies, $11.7M (down 16%); Network access, $15.5M (down 8.1%); other, $3.3M (down 24.9%).
- The dividend payout ratio was "another comfortable" 74.4%.
- The company trimmed guidance for its cash interest expense (to $72M-$73M) and cash income taxes (to less than $1M, from $1M-$3M) and reiterated guidance on capex ($125M-$130M).
- Press Release
Thu, Nov. 3, 8:09 AM
Wed, Nov. 2, 5:30 PM
- AAC, AAON, AAWW, ACIW, ACRE, ACTA, AFSI, AGIO, AGU, AKRX, AMAG, AMCX, AMRN, ANIP, ANSS, APA, ARCB, ARW, AVP, BCE, BDX, BLL, CCC, CCOI, CHD, CHK, CHTR, CI, CLDT, CNSL, COMM, CPK, CRIS, CRZO, CYBR, DDD, DNR, DW, ECA, EFOI, ENB, ENOC, EVA, FCPT, FI, FIG, FMSA, GEL, GEO, GIL, GLOG, GOGO, H, HAR, HFC, HHS, HII, HMHC, HRC, HSC, IBP, ICPT, INSY, IPCC, IQNT, IRWD, IT, KOP, LAMR, LBY, LDOS, LFUS, LINC, LNG, LXP, MFA, MGA, MITK, MITL, MPEL, MPG, MPW, MSGN, NERV, NGS, NNN, NXTM, OGE, ONCE, ONDK, PBH, PDCE, PGTI, PNW, PRFT, PWR, RDUS, RFP, RGEN, ROLL, RWLK, SFM, SGM, SHLX, SMG, SNSS, SPAR, SPGI, SQBG, STFC, STOR, TDY, TGI, THS, TICC, TIME, TK, TNK, TOO, TVPT, TWI, TX, UNT, USCR, VGR, VWR, WILN, WPC, WRLD, ZEUS
Tue, Nov. 1, 5:34 PM
Thu, Oct. 20, 3:00 PM
Wed, Oct. 5, 6:23 PM
- Consolidated Communications (CNSL -0.8%) has wrapped up a debt refinancing that pushes out maturities and results in "significant" interest savings.
- The company issued $900M in incremental term loans maturing in October 2023, and will pay off outstanding principal of $885M set to mature in December 2020 as well as using the rest for general purposes.
- It also set up a revolver of $110M maturing in October 2021 to replace a previous $75M facility set to mature in December 2018; the spread on that remains at 2.5% to 3.25%.
- The term loan is at Libor plus 3% (with 1% Libor floor), amortized at the same 1% per year.
- Wells Fargo Securities was lead arranger and book-runner.
Thu, Sep. 1, 5:27 PM
- Consolidated Communications (NASDAQ:CNSL) has closed on the sale of its Heartland Telecommunications unit, to Mutual Telephone (also known as Premier) and Winnebago Cooperative Telecom Association.
- The sale was set in May, and brings about $20.9M in cash in the end. It's a move for Consolidated to focus on its core regions, and turn over its Iowa exchanges.
- Heartland contributed about $7M in revenue in fiscal 2015.
Thu, Aug. 11, 8:12 PM
- A new report is giving ammunition to "cord-haver" investors in an increasing high-profile TV industry debate.
- SNL Kagan sees a moderation in the cord-cutting trend, noting the "rate of decline stayed about constant versus the past couple of quarters."
- Meanwhile, at least some key companies are responding to the change: Even as pay TV bundle customers decline, they can see big new residential revenues from upticks in broadband Internet subscriptions.
- The firm forecasts broadband subscriptions will swell by more than 8M over 10 years, hitting 71M (ending up at 1.6 times the video sub numbers). Meanwhile, basic video subscriptions are expected to drop by annual compounded growth rate of 1.5% (to 45.4M by 2026), slower than last year's expected 1.7% decline, SNL Kagan says.
- It expects residential revenues to rise from $108.38B this year to $117.7B in 2016, and contributions from commercial services to push industry revenue from $130.57B today to $140.99B in 2026.
- On the other hand, Jan Dawson at Jackdaw Research warns that more people are cord-cutting than you think, pointing to six straight quarters of Y/Y declines in pay TV subs.
- "I’ve lost track of how many headlines I’ve seen over the last couple of years which posit that cord-cutting is somehow slowing down off the back of a small number of providers’ quarterly results," Dawson says, mainly due to observers focusing on quarterly net adds rather than annual changes, and looking at too small a sample size.
- Cable players have done well lately, but at the expense of telcos -- and even in cable, it's an example of the rich getting richer, with smaller players suffering. And Dish Network (NASDAQ:DISH) is seeing worsening results despite its creation of streaming service Sling TV.
- Cord/no-cord players: CMCSA, CHTR, OTCPK:ATCEY, T, VZ, DISH, FTR, CTL, NFLX, DIS, FOX, FOXA, TWX, CNSL, AMZN, WIN, CCOI
Thu, Aug. 4, 8:07 AM
Wed, Aug. 3, 5:30 PM
- AAC, AAON, ACRE, ACTA, AGCO, AGIO, AKRX, ALSK, AMCX, AME, AMRN, ANIP, ANSS, APA, APLP, ARRY, AYR, BBW, BCE, BCRX, BDX, BLL, CBB, CCOI, CHD, CHK, CNNX, CNSL, COT, CPK, CRIS, CRZO, CTB, DNR, DUK, DW, ELOS, EPAM, ESNT, EVA, FMSA, GLDD, GLOG, GOGO, GTN, HAR, HGG, HII, HL, HMHC, HRC, HSC, HSIC, HSNI, ICPT, IMGN, IOC, IPCC, IRM, IT, ITCI, ITT, K, KOP, LBY, LFUS, LGND, LIOX, LPX, LQDT, LXRX, MFC, MGM, MGP, MITL, MMS, MNTA, MPEL, MPG, MPW, NAO, NERV, NGS, NOK, NSAM, NXTM, OGE, OMAM, OMF, ORBC, PBH, PCRX, PGNX, PGTI, PH, PLUG, PPP, PRFT, PRIM, PRTY, PWR, QSR, RDUS, REGN, RFP, RGEN, RLGY, ROLL, RVLT, RWLK, SBH, SEAS, SFM, SGM, SHLX, SNR, SPAR, SPH, SRE, SSTK, SSYS, STFC, STOR, STWD, TDY, TEVA, THS, TICC, TIME, TK, TNK, TOO, TSEM, TVPT, TWI, UAM, UNT, USAC, USCR, VIAB, VLP, VWR, WIN, WPC, WRK, XLRN
Mon, Aug. 1, 12:07 PM
Fri, Jul. 1, 10:44 AM
- Consolidated Communications (CNSL -1.3%) has wrapped its acquisition of Champaign Telephone and its sibling Big Broadband Services.
- Acquiring the privately held business adds 1,500 business customers to Consolidated's roster from around Champaign, Ill. It adds 275 fiber route miles as well as 310 lit buildings.
- Consolidated had agreed to a deal in April where it would pay $13M in cash.
- CTC had fiscal 2015 revenue of about $10M.
Thu, May 5, 7:01 AM
- Consolidated Communications (NASDAQ:CNSL): Q1 EPS of $0.19 beats by $0.03.
- Revenue of $188.85M (-1.9% Y/Y) misses by $0.27M.
Wed, May 4, 5:30 PM
- AAC, AAON, AAWW, ABC, ACIW, ACRE, ACTA, AGIO, AMCX, AMRC, AMRN, ANIP, ANSS, APA, APO, AVP, AXLL, BABA, BCRX, BDX, BR, CBB, CCC, CCOI, CDK, CHD, CHK, CLDT, CNAT, CNNX, CNSL, COT, CVC, CWEI, DDD, DIN, DISCA, DNR, EAC, ENOC, EPAM, ESNT, EVA, FIG, FLDM, G, GCAP, GWPH, HII, HL, HWCC, ICON, IT, ITG, ITT, JEC, JMBA, K, LAMR, LFUS, LINC, LIOX, LMOS, LQDT, LXP, MBLY, MDC, MFC, MGA, MGLN, MGM, MITL, MLM, MMS, MRK, MWW, NICE, NILE, NRG, NTCT, NYLD, OGE, ONE, OXY, PGNX, PGTI, PRFT, PRIM, PWR, RDEN, RDUS, REGN, RFP, RGEN, RLGY, RSTI, RWLK, SBH, SEAS, SFM, SHLX, SNH, SNI, SNR, SNSS, SPH, SQBG, STOR, TDC, TDY, TE, THS, TIME, TLP, TWI, UNT, USAC, USAK, USCR, VER, VG, VLP, WIN, WPC, WRLD
Tue, May 3, 11:36 AM
- Consolidated Communications (CNSL -3.8%) is selling its Heartland Telecommunications unit in order to focus on core regions.
- Mutual Telephone Co. (also known as Premier) and Winnebago Cooperative Telecom Association will take control of the operations, which have been Iowa-based, for about $22.5M in cash.
- Winnebago takes over a pair of exchanges in Iowa, while Premier will take over a number of other exchanges in the state. The operations contributed about $7M in revenue in 2015.
- The closing's expected to come in the second half.
- Now read Telecommunications Stocks For Long-Term Reliable Income: A Cash Flow Analysis »