Nuvera Communications, Inc. Files Quarterly Report on Form 10-Q

TL;DR

<b>Nuvera Communications, Inc. has filed its quarterly report (10-Q) for the period ending March 31, 2024.</b>

AI Summary

Nuvera Communications, Inc. (NUVR) filed a Quarterly Report (10-Q) with the SEC on May 10, 2024. Nuvera Communications, Inc. filed a Form 10-Q for the quarterly period ended March 31, 2024. The company is incorporated in Minnesota and its fiscal year ends on December 31. Its principal executive offices are located at 27 North Minnesota Street, New Ulm, Minnesota. Nuvera Communications, Inc. was formerly known as New Ulm Telecom Inc. and New Ulm Rural Telephone Co. The filing indicates the company is a smaller reporting company and an emerging growth company.

Why It Matters

For investors and stakeholders tracking Nuvera Communications, Inc., this filing contains several important signals. This filing provides investors with an update on the company's financial performance and operational status for the first quarter of 2024. As a smaller reporting and emerging growth company, this report is crucial for understanding its current financial health and future outlook.

Risk Assessment

Risk Level: low — Nuvera Communications, Inc. shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not contain immediate red flags or significant negative developments, indicating a low level of immediate risk from this specific filing.

Analyst Insight

Monitor future filings for detailed financial performance and operational updates from Nuvera Communications, Inc.

Key Numbers

• 2024-03-31 — Quarterly Period End Date (Form 10-Q)
• 2024-05-10 — Filing Date (Form 10-Q)
• 1231 — Fiscal Year End (Company Data)
• 4813 — Standard Industrial Classification (Company Data)

Key Players & Entities

• Nuvera Communications, Inc. (company) — Registrant
• March 31, 2024 (date) — Quarterly period ended
• Minnesota (location) — State of incorporation
• New Ulm, Minnesota (location) — Address of principal executive offices
• New Ulm Rural Telephone Co. (company) — Former company name
• New Ulm Telecom Inc. (company) — Former company name
• 0-3024 (other) — Commission File Number

FAQ

Industry Context

Nuvera Communications operates in the Telephone Communications industry, providing telecommunication services.

Regulatory Implications

The company is subject to regulations under the Securities Exchange Act of 1934, as indicated by the filing of a Form 10-Q.

What Investors Should Do

1. Review the full Form 10-Q for detailed financial statements and management discussion.
2. Analyze any disclosures regarding operational changes or strategic initiatives.
3. Compare the reported quarter's performance against previous periods and industry benchmarks.

Key Dates

• 2024-03-31: Quarterly Period End — End of the reporting period for the Form 10-Q.
• 2024-05-10: Filing Date — Date the Form 10-Q was officially filed with the SEC.

Year-Over-Year Comparison

This is the initial filing analyzed for the period ending March 31, 2024; therefore, no comparison to a prior filing is available within this data.

Key Financial Figures

• $1.66 — ge on which registered Common Stock - $1.66 par value NUVR OTCQB Marketplace

Filing Documents

• nuvr-20240331.htm (10-Q) — 1518KB
• exhibit31_1.htm (EX-31) — 13KB
• exhibit31_2.htm (EX-31) — 13KB
• exhibit32_1.htm (EX-32) — 7KB
• exhibit32_2.htm (EX-32) — 6KB
• 0001513162-24-000057.txt (&nbsp;) — 6481KB
• nuvr-20240331.xsd (EX-101.SCH) — 66KB
• nuvr-20240331_def.xml (EX-101.DEF) — 249KB
• nuvr-20240331_lab.xml (EX-101.LAB) — 484KB
• nuvr-20240331_pre.xml (EX-101.PRE) — 262KB
• nuvr-20240331_cal.xml (EX-101.CAL) — 45KB
• nuvr-20240331_htm.xml (XML) — 942KB

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION Item 1

Financial Statements

Financial Statements 4 - 9 Consolidated Statements of Income (unaudited) for the Three Months Ended March 31, 2024, and 2023 4 Consolidated Statements of Comprehensive Income (unaudited) for the Three Months Ended March 31, 2024, and 2023 5 Consolidated Balance Sheets (unaudited) as of March 31, 2024, and December 31, 2023 6 - 7 Consolidated Statements of Cash Flows (unaudited) for the Three Months Ended March 31, 2024, and 2023 8 Consolidated Statements of Stockholders' Equity (unaudited) for the Three Months Ended March 31, 2024, and 2023 9 Condensed Notes to Consolidated Financial Statements (unaudited) 10 - 35 Item 2

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 35 - 49 Item 3

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 49 Item 4

Controls and Procedures

Controls and Procedures 49

– OTHER INFORMATION

PART II – OTHER INFORMATION Item 1

Legal Proceedings

Legal Proceedings 50 Item 1A

Risk Factors

Risk Factors 50 - 61 Item 2 Unregistered Sales of Equity Securities and Use of Proceeds 61 Item 3 Defaults Upon Senior Securities 62 Item 4 Mine Safety Disclosures 62 Item 5 Other Information 62 Item 6 Exhibits Listing 62

Signatures

Signatures 63 Exhibits 3 Table of Contents

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements NUVERA COMMUNICATIONS, INC. CONSOLIDATED STATEMENTS OF INCOME (Unaudited) Three Months Ended March 31, 2024 2023 OPERATING REVENUES: Voice Service $ 1,231,728 $ 1,312,593 Network Access 947,110 1,095,292 Video Service 2,989,949 3,051,297 Data Service 7,248,773 6,816,549 A-CAM/FUSF 3,415,466 2,988,279 Other Non-Regulated 1,112,099 1,098,937 Total Operating Revenues 16,945,125 16,362,947 OPERATING EXPENSES: Plant Operations (Excluding Depreciation and Amortization) 3,879,506 3,980,487 Cost of Video 2,353,226 2,465,320 Cost of Data 1,140,538 1,066,178 Cost of Other Nonregulated Services 422,751 396,387 Depreciation and Amortization 4,354,659 3,687,032 Selling, General and Administrative 2,874,332 2,579,346 Total Operating Expenses 15,025,012 14,174,750 OPERATING INCOME 1,920,113 2,188,197 OTHER INCOME (EXPENSE) Interest Expense ( 2,514,323 ) ( 1,202,923 ) Interest/Dividend Income 112,830 89,275 Interest During Construction 245,287 58,499 Gain on Sale of Investments - 4,087,207 CoBank Patronage Dividends 1,196,948 692,371 Other Investment Income 61,344 89,536 Total Other Income (Expense) ( 897,914 ) 3,813,965 INCOME BEFORE INCOME TAXES 1,022,199 6,002,162 INCOME TAXES EXPENSE 286,214 1,680,603 NET INCOME $ 735,985 $ 4,321,559 NET INCOME PER SHARE Basic $ 0.14 $ 0.85 Diluted $ 0.14 $ 0.84 DIVIDENDS PER SHARE $ 0.00 $ 0.14 WEIGHTED AVERAGE SHARES OUTSTANDING Basic 5,133,207 5,095,097 Diluted 5,256,779 5,136,814 The accompanying notes are an integral part of these consolidated financial statements. 4 Table of Contents NUVERA COMMUNICATIONS, INC. CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) Three Months Ended March 31, 2024 2023 Net Income $ 735,985 $ 4,321,559 Other Comprehensi

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View this 10-Q filing on SEC EDGAR