2023 Rural Telecommunications Benchmark Study Results

In 2023, 167 rural telecommunications companies in 19 states participated in this study which provides benchmark results for the 2022 balance sheet and income statement and more than 37 other key metrics. The study calculates the percentage increase in operating expenses both with and without depreciation expense. Total operating expenses increased 5.1% in 2022 and without including depreciation expense, operating expenses increased 5.2%. The increase in operating expenses is almost double the 2.6% increase in total operating revenues. More than half (51%) of rural telcos received broadband grants in 2022. Of the 167 companies that participated in this study, 85 received grants. The 85 companies accepted about $600 million in grants. In 2021, 69 companies received grants, which totaled $336 million. The median grant size is currently running at $2.7 million.