CNSL - Consolidated Communications: New Fiber But No Revenue Growth

• Consolidated Communications shares are up over 60% in this year, but the shares turned south after the recent Q3 earnings report. A disappointing revenue decline was the likely cause.
• The company has left behind a few years of distress and is currently delivering on its strategy: a big bet on fiber with an accelerated build-out of fiber infrastructure.
• The challenge for the company remains to reverse revenue trends. The planned 300,000 new fiber connections in 2021, and many more after that, don't translate to top-line growth yet.
• The bet on fiber should pay off, but it may take years. In the absence of dividends, the question for retail investors is if an investment is worth the wait.

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