Page 1

EX - 99.1 2 cnsl - 20210729xex99d1.htm EX - 99.1 Exhibit 99.1 Consolidated communications Consolidated Communications Reports Second Quarter 2021 Results FttP build plan on track , with 76,000 fiber upgrades completed in the second quarter as fiber deployment and construction continue to scale . On pace to upgrade 300,000 total passings in 2021 and extend fiber services to 70 % of the Company's footprint by 2025 . All State Regulatory Approvals Secured for Searchlight Capital Partners Investment . Second Quarter 2021 Highlights • • Revenue totaled $ 320.4 million , generating Adjusted EBITDA of $ 126.7 million Consumer broadband revenue grew 3.7 % , representing strong upgrade activity Commercial and carrier data - transport revenue grew 1.4 % Net cash from operating activities was $ 87.3 million ; cash and cash equivalents totaled $ 289.3 million Capital expenditures totaled $ 119.2 million reflecting the fiber expansion plan and 76,000 upgrades completed in the quarter Mattoon , III . - Jul . 29 , 2021 _ Consolidated Communications Holdings , Inc. ( Nasdaq : CNSL ) ( the " Company " or " Consolidated ” ) reported results for the second quarter 2021 . " Our multi - year fiber expansion is well underway as demonstrated by our ability to upgrade 76,000 passings in the recent quarter , achieve broadband revenue growth of nearly 4 % and add almost 7,000 fiber subscribers this year , ” said Bob Udell , president and chief executive officer at Consolidated Communications . “ Performance in the first half of the year highlights our team's strong execution on our fiber - first strategy and progress on the Company's transformation which will bring highly competitive , gigabit broadband services to over 70 % of our footprint by 2025. " Financial Results for the Second Quarter ( compared to second quarter 2020 ) Revenue totaled $ 320.4 million , compared to $ 325.2 million . Consumer broadband revenue increased 3.7 % or $ 2.4 million . Commercial and Carrier data and transport revenue grew $ 1.2 million or 1.4 % . Voice services revenue declined $ 5.3 million or 5.9 % across all customer channels . Video services revenue declined $ 2.4 million , a result of the transition to streaming Over- The - Top services bundled with broadband services . Operating expenses increased $ 10 million or 4.9 % compared to a year ago . The primary drivers were marketing expenses of approximately $ 5 million related to the consumer fiber product , higher Universal Service Fees of $ 4 million and asset sale expenses of $ 4.2 million . Income from operations totaled $ 30 million in the second quarter , a decrease of $ 9.8 million or 24.5 % . The year - over - year change was primarily due to a revenue decline of $ 4.8 million and a $ 10 million increase in operating expenses offset by a $ 5 million decline in depreciation and amortization expense . Page 1 of 15