| --- | --- | --- | --- | --- | --- | |-------|-------|-------|-------|-------|-------| | | | | | | | | | | | | | | | | | | | | | Safe Harbor The Securities and Exchange Commission ("SEC") encourages companies to disclose forward-looking information so that investors can better understand a company's future prospects and make informed investment decisions. Certain statements in this communication are forward-looking statements and are made pursuant to the safe harbor provisions of the Securities Litigation ...

Financial Data and Key Metrics Changes - Operating revenue for Q4 2020 totaled $326.1 million, a decline of 1.5% year-over-year, but showed a 250 basis point improvement compared to the previous year [22] - Adjusted EBITDA for Q4 2020 was $132.3 million, up 1.1% or $1.4 million from a year ago, with EBITDA margins remaining strong at approximately 41% [22] - Adjusted net income per share was $0.12 compared to $0.01 per share a year ago, reflecting improved operating results and a decline in depreciation expense [29] Business Line Data and Key Metrics Changes - Commercial and carrier revenue totaled $149.8 million in Q4 2020, a slight increase of 0.6% year-over-year, with data and transport revenue growing 3.2% to $92.8 million [22][12] - Consumer channel revenue was $125.2 million, representing a year-over-year decline of 2.6%, while consumer broadband revenue grew 2.8% for the seventh consecutive quarter [24][15] - ProConnect voice revenue grew 10% in Q4 and 12% for the year, indicating strong demand in the unified communications segment [14] Market Data and Key Metrics Changes - The company reported a 3.2% growth in data and transport revenue in Q4, driven by investments in fiber network and success in carrier and commercial channels [22][12] - Consumer data ARPU for Q4 was $54.41, up 6.6% year-over-year, indicating a focus on competitive broadband services [24] Company Strategy and Development Direction - The company aims to accelerate fiber build to scale and grow broadband services, with a five-year investment initiative to upgrade 1.6 million passings with fiber [36] - The strategy includes leveraging fiber assets to grow commercial and carrier services, targeting 2% data transport revenue growth in 2021 [36] - A digital transformation project is underway to improve customer experience and operational processes, aiming for an industry-leading net promoter score [37] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the stability of the business despite the challenges posed by COVID-19, with no material impacts on results [32] - The outlook for adjusted EBITDA in 2021 is projected to be between $500 million and $510 million, reflecting strong operating momentum and investments in fiber build plans [33] - Management highlighted a fully funded growth plan and a strong balance sheet as key factors for future success [35] Other Important Information - The company completed a strategic partnership with Searchlight Capital Partners, resulting in a total investment of $425 million, which provides capital for fiber network expansion [8][9] - Cash distributions from wireless partnerships totaled $9.5 million in Q4 2020, with expectations for 2021 distributions to be in the range of $37 to $39 million [29] Q&A Session Summary Question: Can you discuss the margin profile as you deploy fiber to the home and your penetration goals? - Management indicated a conservative penetration goal of mid-30s over a three-year period, expecting to reach close to 30% in the first two years [41] - Fiber is expected to have gross margins north of 70%, with EBITDA margins potentially exceeding 50% as the transition to fiber-based services accelerates [42]

Q4 2020 Earnings February 25, 2021 tions edl® NASDAQ: CNSL | www.consolidated.com Safe Harbor The Securities and Exchange Commission ("SEC") encourages companies to disclose forward-looking information so that investors can better understand a company's future prospects and make informed investment decisions. Certain statements in this communication are forward-looking statements and are made pursuant to the safe harbor provisions of the Securities Litigation Reform Act of 1995. These forward-looking statem ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2020 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________________ to ________________ Commission file number 000-51446 CONSOLIDATED COMMUNICATIONS HOLDINGS, INC. Securities registered pursuant to Section 12(b ...

Q3 2020 Earnings Oct. 29, 2020 NASDAQ: CNSL | www.consolidated.com Safe Harbor The Securities and Exchange Commission ("SEC") encourages companies to disclose forward-looking information so that investors can better understand a company's future prospects and make informed investment decisions. Certain statements in this communication are forward-looking statements and are made pursuant to the safe harbor provisions of the Securities Litigation Reform Act of 1995. These forward-looking statements reflect, a ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q [ X ] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2020 or [ ] TRANSITION REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number 000-51446 | --- | --- | |---------------------------------------------------------------------------------------------------------------------------- ...

Financial Data and Key Metrics Changes - Operating revenue for Q3 2020 totaled $327.1 million, a decline of 1.9%, which is an improvement compared to a 4.2% decline a year ago [20] - Adjusted EBITDA was up 1% or $1.3 million from a year ago, totaling $132.2 million for the quarter [20][29] - Adjusted net income per share was $0.23 compared to $0.06 per share a year ago [33] Business Line Data and Key Metrics Changes - Data and transport revenue grew 1.6% to $90.2 million, driven by fiber network investments [22] - Commercial voice revenue declined by 2.7% or $1.3 million, while other revenue declined approximately $900,000 [23] - Consumer broadband revenue grew 2.6% for the sixth consecutive quarter, totaling $128.4 million [24][25] - Consumer voice revenue was down approximately 6% year-over-year, but the decline was reduced by nearly half from a year ago [26] Market Data and Key Metrics Changes - Tower connections under contract increased roughly 2% year-over-year, totaling approximately 3,900 connections [13] - The company has nine public-private partnership fiber builds in process, totaling approximately 10,000 homes passed when complete [17] Company Strategy and Development Direction - The company is focused on a multiyear investment initiative to upgrade more than 1 million homes with fiber, aiming to provide superior service and revenue growth [41][42] - The partnership with Searchlight is expected to accelerate fiber expansion plans and enhance financial flexibility [40][41] - The company plans to target substantially all free cash flow towards high-return fiber expansion projects [45] Management's Comments on Operating Environment and Future Outlook - The management noted that there have been no material impacts from the pandemic on business operations [11] - The company expects to see normal levels of seasonality in Northern New England residential markets [38] - Management is optimistic about the fiber expansion plans and the potential for growth in the competitive landscape [60][61] Other Important Information - The company completed a recapitalization, raising $2.25 billion in new secured debt, which will bolster growth plans [7][36] - Total liquidity, including cash on hand and availability under the revolver, was approximately $191.6 million [34] Q&A Session Summary Question: Verizon cash distribution and EBITDA guidance - Management indicated that while Q3 cash distributions from Verizon were over $12 million, they do not expect the same level for Q4, but anticipate being above the typical range of $37 million to $39 million for the full year [53] - Regarding EBITDA, management did not reinstate guidance due to uncertainty around COVID and potential startup costs for fiber deployment [54] Question: Fiber build cadence and penetration rates - The company plans to add a minimum of 250,000 homes passed in 2021, with expectations for potential overachievement based on past builds [48] - Management is confident in achieving duopoly penetration rates of 30% to 40% in the Northern New England market over the next few years [60]

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Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q [ X ] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2020 or [ ] TRANSITION REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number 000-51446 | --- | --- | |------------------------------------------------------------------------------|------------------------------------------| | | | ...

Consolidated Communications Holdings, Inc. (NASDAQ:CNSL) Q2 2020 Earnings Conference Call July 30, 2020 10:00 AM ET Company Participants Jennifer Spaude - Vice President of Corporate Communications and Investor Relations Robert Udell - President and Chief Executive Officer Steven Childers - Chief Financial Officer and Treasurer Conference Call Participants Gregory Williams - Cowen and Company, LLC Davis Hebert - Wells Fargo Securities, LLC Operator Ladies and gentlemen, thank you for standing by, and welcom ...