Consolidated Communications (CNSL) Misses Q1 EPS by 3c, Beats on Revenues

Consolidated Communications (NASDAQ: CNSL) reported Q1 EPS of ($0.07), $0.03 worse than the analyst estimate of ($0.04). Revenue for the quarter came in at $356 million versus the consensus estimate of $354.58 million.

First quarter 2018 Consolidated Communications financial summary:

• Revenue totaled $356 million
• Net cash from operating activities was $90.8 million
• Adjusted EBITDA was $135.1 million
• Dividend payout ratio was 61.9 percent

“We had a strong start to 2018 and I’m pleased with the quarter which supports the declaration of our 52nd consecutive quarterly dividend,” said Bob Udell, president and chief executive officer of Consolidated Communications. “We increased our fiber connections for wireless carriers under contract by 13 percent year over year, a notable increase with sales in first quarter exceeding full year 2017 results. We are pleased to realize another quarter of 1.4 percent growth in commercial and carrier data and transport revenue. While the majority of this growth is from our legacy properties, we see additional upside opportunity as we implement our proven playbook in the former FairPoint markets.”

“We are executing well on our integration and fast start initiatives associated with the acquisition,” added Udell. “Our plan and strategy of investing and expanding our fiber network is working as we upgrade broadband speeds and enhance our product offerings, bringing more competitive solutions to our customers.”

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

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