Consolidated Communications reports Q3 EPS (33c), consensus (46c)
Reports Q3 revenue $$271.1M , consensus $270.19 M . Cost of services and products and selling, general and administrative expenses collectively decreased $16.3M versus the prior year largely due to lower video programming costs, lower severance costs, lower access expense, lower salaries driven by certain cost savings initiatives, and a reduction in contract labor costs. The decrease was partly offset by higher professional fees for system enhancements, customer service improvements and strategic initiatives. Net interest expense was $44.9 million, an increase of $5.3 million versus the prior year, primarily a result of interest from borrowings on the revolving credit facility. On Sept. 30, the Company had 71% of its total outstanding debt at a fixed rate through September 2026. As of Sept. 30, the weighted average cost of debt was 7.09%.
