Nuvera Communications Files 10-Q for Q2 2024

TL;DR

Nuvera Comm (NUVR) filed its Q2 10-Q. All good.

AI Summary

Nuvera Communications, Inc. filed its 10-Q report for the quarterly period ended June 30, 2024. The company, incorporated in Minnesota, operates in the Telephone Communications sector. Its principal executive offices are located at 27 North Minnesota Street, New Ulm, MN 56073.

Why It Matters

This filing provides investors with an update on Nuvera Communications' financial performance and operational status for the second quarter of 2024.

Risk Assessment

Risk Level: low — This is a routine quarterly filing with no immediately apparent significant negative events or disclosures.

Key Players & Entities

• Nuvera Communications, Inc. (company) — Registrant
• June 30, 2024 (date) — Quarterly period end date
• 27 North Minnesota Street, New Ulm, MN 56073 (location) — Principal executive offices
• 0-3024 (other) — Commission File Number
• 41-0440990 (other) — I.R.S. Employer Identification No.

FAQ

Key Financial Figures

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

Filing Documents

• nuvr-20240630.htm (10-Q) — 1845KB
• exhibit31_1.htm (EX-31) — 22KB
• exhibit31_2.htm (EX-31) — 22KB
• exhibit32_1.htm (EX-32) — 7KB
• exhibit32_2.htm (EX-32) — 6KB
• 0001513162-24-000088.txt ( ) — 7328KB
• nuvr-20240630.xsd (EX-101.SCH) — 71KB
• nuvr-20240630_def.xml (EX-101.DEF) — 251KB
• nuvr-20240630_lab.xml (EX-101.LAB) — 504KB
• nuvr-20240630_pre.xml (EX-101.PRE) — 264KB
• nuvr-20240630_cal.xml (EX-101.CAL) — 47KB
• nuvr-20240630_htm.xml (XML) — 1179KB

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION Item 1

Financial Statements

Financial Statements 4 - 10 Consolidated Statements of Income (unaudited) for the Three and Six Months Ended June 30, 2024, and 2023 4 Consolidated Statements of Comprehensive Income (unaudited) for the Three and Six Months Ended June 30, 2024, and 2023 5 Consolidated Balance Sheets (unaudited) as of June 30, 2024, and December 31, 2023 6 - 7 Consolidated Statements of Cash Flows (unaudited) for the Six Months Ended June 30, 2024, and 2023 8 Consolidated Statements of Stockholders' Equity (unaudited) for the Three and Six Months ended June 30, 2024, and 2023 9 - 10 Condensed Notes to Consolidated Financial Statements (unaudited) 11 - 33 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 33 - 47 Item 3

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 47 Item 4

Controls and Procedures

Controls and Procedures 47

– OTHER INFORMATION

PART II – OTHER INFORMATION Item 1

Legal Proceedings

Legal Proceedings 48 Item 1A

Risk Factors

Risk Factors 48 - 57 Item 2 Unregistered Sales of Equity Securities and Use of Proceeds 57 Item 3 Defaults upon Senior Securities 58 Item 4 Mine Safety Disclosures 58 Item 5 Other Information 58 Item 6 Exhibits Listing 58

Signatures

Signatures 59 Exhibits 3 Table of Contents

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION

Fi nancial Statements

Item 1. Fi nancial Statements NUVERA COMMUNICATIONS, INC. CONSOLIDATED STATEMENTS OF INCOME (Unaudited) Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 OPERATING REVENUES: Voice Service $ 1,199,823 $ 1,293,258 $ 2,431,551 $ 2,605,851 Network Access 909,516 955,459 1,856,626 2,050,751 Video Service 2,973,791 3,063,857 5,963,740 6,115,154 Data Service 7,526,344 6,874,570 14,775,117 13,691,119 A-CAM/FUSF 3,476,234 2,990,581 6,891,700 5,978,860 Other Non-Regulated 1,092,146 1,106,962 2,204,245 2,205,899 Total Operating Revenues 17,177,854 16,284,687 34,122,979 32,647,634 OPERATING EXPENSES: Plant Operations (Excluding Depreciation and Amortization) 4,083,289 3,941,949 7,962,795 7,922,436 Cost of Video 2,315,155 2,417,912 4,668,381 4,883,232 Cost of Data 1,208,697 1,326,717 2,349,235 2,392,895 Cost of Other Nonregulated Services 382,602 393,589 805,353 789,976 Depreciation and Amortization 4,449,136 3,734,449 8,803,795 7,421,481 Selling, General and Administrative 2,756,482 2,656,926 5,630,814 5,236,272 Total Operating Expenses 15,195,361 14,471,542 30,220,373 28,646,292 OPERATING INCOME 1,982,493 1,813,145 3,902,606 4,001,342 OTHER INCOME (EXPENSE) Interest Expense ( 2,573,375 ) ( 1,556,065 ) ( 5,087,698 ) ( 2,758,988 ) Interest/Dividend Income 22,600 55,771 135,430 145,046 Interest During Construction 189,103 137,744 434,390 196,243 Gain on Sale of Investments ( 257,807 ) ( 26,710 ) ( 257,807 ) 4,060,497 CoBank Patronage Dividends - - 1,196,948 692,371 Other Investment Income 34,879 61,451 96,223 150,987 Total Other Income (Expense) ( 2,584,600 ) ( 1,327,809 ) ( 3,482,514 ) 2,486,156 INCOME BEFORE INCOME TAXES ( 602,107 ) 485,336 420,092 6,487,498 INCOME TAXES EXPENSE ( 168,591

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