Consolidated Communications Holdings, Inc. (NASDAQ:CNSL) Q1 2022 Earnings Conference Call May 5, 2022 8:30 AM ET

Company Participants

Jennifer Spaude - Senior Vice President of Corporate Communications and Investor Relations

Robert Udell - President and Chief Executive Officer

Steve Childers - Chief Financial Officer

Conference Call Participants

James Cotter - Cowen and Company, LLC

Jason Kim - Goldman Sachs Group, Inc.

Operator

Good morning. My name is Brent and I will be your conference operator today. At this time, I would like to welcome everyone to the Consolidated Communications First Quarter Earnings Conference Call. Please be advised that today's call is being recorded.

All lines have been placed on mute to prevent any background noise. After the speakers’ remarks there will be a question-and-answer session [Operator Instructions] Thank you.

I will now turn the call over to Jennifer Spaude, Senior Vice President of Investor Relations and Corporate Communications. Jennifer, you may begin your conference.

Jennifer Spaude

Good morning and welcome to Consolidated Communications first quarter 2022 earnings call. Our earnings release, financial statements, and presentation are all posted on the Investor Relations section of our website at consolidated.com. Please review the safe harbor provisions on Slide 2 of the presentation. Today's discussion includes forward-looking statements about expected future events and financial results that involve risks and uncertainties that may cause actual results to differ materially from those expressed today.

A discussion of factors that may affect future results is contained in Consolidated's filings with the SEC. During this call, we will also refer to certain non-GAAP financial measures, which are defined and reconciled in our earnings presentation and press release. On the call today are Bob Udell, President and Chief Executive Officer; and Steve Childers, our Chief Financial Officer. Following their prepared remarks, we'll open the call up for questions.

I'll now turn the call over to Bob Udell.

Robert Udell

Thank you, Jennifer, and good morning, everyone. 2022 is off to a fast and productive start. Our team is energized, our build machine is executing well, and we're expanding our flagship Fidium Fiber product to new markets. Today, I'll update you on the progress of our build, the demand we are seeing and comment on our cohort data now that one full-year is in the books since our fiber expansion began.

Consolidated's mission is to turn technology into solutions, connecting people, and enriching how they work and live. This mission is centered at the core of our fiber expansion plan as we connect more locations every day with superior fiber internet and a digital infrastructure that will enable consumers, businesses, and communities to thrive in the coming years. We have a significant opportunity with 2.7 million total passings and a plan to upgrade over 70% of these locations, or 1.6 million locations by 2025. We're roughly 100 days into our newly launched Fidium Fiber product, and the response continues to be very positive.