Consolidated Communications (CNSL) Reports In-Line Q2 EPS

Consolidated Communications (NASDAQ: CNSL) reported Q2 EPS of ($0.10), in-line with the analyst estimate of ($0.10). Revenue for the quarter came in at $350.2 million versus the consensus estimate of $351.77 million.

Second quarter 2018 Consolidated Communications financial summary:

• Revenue totaled $350.2 million
• Net cash from operating activities was $103.5 million
• Adjusted EBITDA was $136.2 million
• Dividend payout ratio was 70 percent, impacted by increased capital expenditures during the quarter

“As we pass the one year milestone following our FairPoint acquisition, we are on track with the integration, fast start network, customer service and branding initiatives which will allow us to achieve at least $55 million in synergies.” said Bob Udell, president and chief executive officer of Consolidated Communications. “I am also pleased with the continued growth in our commercial and carrier data and transport revenues. Our commercial sales team continues to gain good traction in both legacy and Northern New England markets as we experienced sequential quarterly growth of data and transport revenues.”

“We have declared our 53rd consecutive dividend and our year-to-date payout of 66 percent is right on plan given the increased construction activities during the second quarter of 2018,” added Udell. “We are focused on turning up the new fiber connections for wireless carriers we sold this year and we have increased broadband speeds available to 214,000 homes and small businesses in Northern New England with a plan to complete a half million upgrades by year end.”

For earnings history and earnings-related data on Consolidated Communications (CNSL) click here.

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