CNSL Stock Is Trading Higher On Upbeat Q1 Results - Consolidated Comms Hldgs (NASDAQ:CNSL)

Consolidated Communications Holdings Inc CNSL reported a first-quarter FY21 revenue decline of 0.3% year on year to $324.8 million, beating the analyst estimate of $316.99 million.
Commercial and carrier revenue declined 1.8% to $144.3 million from the decline in Voice services and other revenue partially offset by Data and transport services revenue growth.
Consumer revenue declined 2.7% to $123 million from Video and Voice services revenue decline partially offset by Broadband revenue growth.
Subsidies revenue declined 0.3% to $17.4 million.
Adjusted EPS was $0.21, above the consensus estimate of $0.06.
Adjusted EBITDA declined 3.8% to $126.6 million due to expenses regarding the startup of the fiber expansion plans.
The company generated $98.5 million in operating cash flow. It held $325.1 million in cash and equivalents.
Capital expenditures rose 79.2% to $76 million due to its fiber build expansion plan and investment in digital transformation technology.
The Q1 results demonstrated the company’s delivery of fiber growth plans. It upgraded 46,000 passings to Gig+ FTTP and sustained an eight-quarter track record of broadband revenue growth, CEO Bob Udell said.
Guidance: CNSL affirmed the FY21 capital expenditure estimate between $400 million and $420 million and adjusted EBITDA estimates $500 million and $510 million. The company aimed to bring gigabit broadband services to at least 70% of its footprint by 2025.
Price action: CNSL shares traded higher by 4.81% at $6.97 on the last check Thursday.

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