Page 1

EX - 99.1 2 cnsl - 20210429xex99d1.htm EX - 99.1 Exhibit 99.1 Consolidated communications Consolidated Communications Reports First Quarter 2021 Results • Achieved fast start on multi - year , Gig + FTTP expansion plan ; completed 45,800 upgrades in first quarter and on track to upgrade 300,000 in 2021 and upgrade 70 % of Company's service area by 2025 • • Completed opportunistic repricing of term loan further strengthening the capital structure by improving incremental cash flow by approximately $ 30 million per year Second closing of Searchlight Capital Partners ' additional $ 75 million investment is on track to be completed in third quarter First Quarter 2021 Highlights • Revenue totaled $ 324.8 million , generating Adjusted EBITDA of $ 126.6 million Consumer broadband revenue grew 2.6 % , representing the eighth consecutive quarter of year - over - year growth • • • Commercial and carrier data - transport revenue grew approximately 1 % , compared to first quarter 2020 Net cash from operating activities was $ 98.5 million ; cash and cash equivalents totaled $ 325.1 million • Capital expenditures totaled $ 76 million Mattoon , III . - Apr. 29 , 2021 – Consolidated Communications Holdings , Inc. ( Nasdaq : CNSL ) ( the " Company " or " Consolidated " ) reported results for the first quarter 2021 . “ Our first - quarter results demonstrate we're delivering on our fiber growth plans as we upgraded approximately 46,000 passings to Gig + FTTP and are sustaining an eight - quarter track record of year - over - year broadband revenue growth , " said Bob Udell , president and chief executive officer at Consolidated Communications . “ The fast start to the year demonstrates our team's strong execution of our fiber - first strategy . " " We are on track to close on the final stage of the Searchlight investment following FCC and state approvals which are expected in the third quarter 2021 , " added Udell . " Our fiber expansion plan is fully funded and we are embarking on the Company's most important growth and transformation period yet as we bring highly competitive , gigabit broadband services to at least 70 % of our footprint by 2025. " Financial Results for the First Quarter • Revenue totaled $ 324.8 million , a decline of 0.3 % compared to the first quarter 2020 . Broadband revenue increased 2.6 % or $ 1.7 million . Video services revenue declined $ 2.3 million reflecting our strategy change to streaming Over - The - Top services bundled with broadband services . Voice services revenue declined $ 4.2 million or 4.7 % across all customer channels . Subsidies declined $ 1.1 million primarily due to reductions in support from Texas High Cost Funds . Page 1 of 15