Consolidated Communications Holdings Reports Decline In Q4 Earnings Across Key Segments, Adjusted EBITDA Drops 14.7%

Consolidated Communications Holdings Inc 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 PSCU and Syntax Stratified SmallCap ETF SSLY.

CNSL Price action: Consolidated Communications Holdings shares were up 0.12% at $4.29 Tuesday morning at publication.

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