Consolidated Communications Announces Third Quarter 2024 Financial Results
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Nov 05 2024
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Source: Businesswire
Third Quarter Financial Performance: Consolidated Communications reported a revenue of $271.1 million for Q3 2024, with a net loss of $61.4 million, showing an improvement from a net loss of $69.2 million in the same quarter last year. The company also added 5,134 consumer broadband connections during this period.
Pending Acquisition: The company is set to be acquired by Searchlight Capital Partners and British Columbia Investment Management Corporation in an all-cash transaction valued at approximately $3.1 billion, expected to close in late Q4 2024 or early Q1 2025, which will take Consolidated private and remove its shares from public trading.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
