Consolidated Communications Holdings Reports Decline In Q4 Earnings Across Key Segments, Adjusted EBITDA Drops 14.7%
Consolidated Communications Holdings Inc (NASDAQ:CNSL) reported a fourth-quarter fiscal 2023 revenue decline of 7.0% year-on-year to $275.2 million, missing the analyst consensus of $276.9 million.
Adjusted EPS loss of $(0.26) beat the analyst consensus loss of $(0.36).
Revenue from the Consumer segment declined 1.2% Y/Y to $ 113.85 million as growth in Broadband was offset by a decline in Voice and Video services.
Due to Data and Voice services decline, Commercial segment revenue decreased 5.4% Y/Y to $96.21 million.
Carrier segment revenue declined 7.8% Y/Y to $34.82 million due to Data and Voice services decline.
Adjusted EBITDA declined 14.7% Y/Y to $86.7 million. The margin declined 285 bps to 31.5%.
CNSL generated $11.99 million in operating cash flow and held $4.8 million in cash and equivalents.
Capital expenditures totaled $91.5 million, driven by 49,132 new fiber passings, fourth-quarter fiber adds.
Investors can gain exposure to the stock via Invesco S&P SmallCap Utilities & Communication Services ETF (NASDAQ:PSCU) and Syntax Stratified SmallCap ETF (NYSE:SSLY).
CNSLPrice action: Consolidated Communications Holdings shares were up 0.12% at $4.29 Tuesday morning at publication.
