MATTOON, IL — Consolidated Communications' broadband revenue increased 2.3 percent or $1.5 million, according to its second quarter 2020 report.
“I’m pleased to report we had another strong quarter, delivering revenue growth in both broadband and data-transport services, while decreasing operating expenses and increasing Adjusted EBITDA,” said Bob Udell, president and chief executive officer of Consolidated Communications. “Our business remains strong and we continue to operate seamlessly through this unprecedented time. As a critical infrastructure provider, we are laser focused on supporting our residential, business and carrier customers with flexible solutions that meet their unique needs right now – whether at home, at work, at a tower or at a data center. The safety and wellness of our employees and customers remain our number one priority.”
“For the fifth consecutive quarter, we grew broadband revenue by leveraging our speed improvements,” added Udell. “Additionally, we reduced our debt leverage from 4.33x at the end of 2019 to 4.14x as we further execute on our delever first strategy. Through high-return fiber investments and innovative public-private partnerships, we are delivering results where we invest and executing on a strategy that positions us well for continued growth.”
Financial Results for the Second Quarter
- Revenue totaled $325.2 million, a decline of 2.5 percent compared to second quarter 2019.
- Data and transport service revenue increased 1.2 percent or $1.0 million;
- Commercial and carrier other revenue was down $3.0 million primarily due to equipment sales;
- Broadband revenue increased 2.3 percent or $1.5 million;
- Voice services revenue across all customer channels declined 3.8 percent or $3.5 million, which is less than half the decline compared to the prior-year period; and
- Network access revenues declined $3.7 million primarily due to declines in special access.bout Consolidated Communications
Comments
Read what others have to say, and share your own thoughts with the community.