Rogers Communications(RCI)

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Rogers Communications(RCI) - 2022 Q4 - Earnings Call Transcript
2023-02-02 20:42
And so other than promotional incentives to bundle them, I would say the fundamentals of the business seem to be continue to be somewhat separate. And so weÂ'll continue to capitalize on that coming together at the right time. But price alone isnÂ't the answer long term and it really gets back to the comments I gave earlier with respect to long term cable churn rates. So we continue to watch that trend and certainly itÂ's an opportunity for us in terms of bundling. We donÂ't disclose the specifics of, withi ...
Rogers Communications(RCI) - 2022 Q4 - Annual Report
2023-02-02 13:03
Exhibit 99.1 ROGERS COMMUNICATIONS REPORTS FOURTH QUARTER AND FULL-YEAR 2022 RESULTS; ANNOUNCES 2023 FINANCIAL GUIDANCE • Full-year postpaid mobile phone net adds of 545,000 lead Canadian industry, up 35% and strongest results since 2007 TORONTO (February 2, 2023) - Rogers Communications Inc. today announced its unaudited financial and operating results for the fourth quarter ended December 31, 2022. Consolidated Financial Highlights | | | Three months ended December 31 | | | Twelve months ended December 31 ...
Rogers Communications(RCI) - 2022 Q3 - Earnings Call Transcript
2022-11-09 15:35
Financial Data and Key Metrics Changes - In Q3 2022, total service revenue increased by 3%, and adjusted EBITDA decreased by 1%. Excluding customer credits, service revenue was up 7% and adjusted EBITDA was up 8% [34][42][43] - Wireless service revenue rose by 3% as reported, but increased by 9% year-over-year when excluding credits. Adjusted EBITDA for wireless was down 1% but up 7% excluding credits [24][29] - Cable revenue and adjusted EBITDA were down 4% and 10% respectively on an as-reported basis, but both were up 2% year-over-year when excluding customer credits [30][34] Business Line Data and Key Metrics Changes - Wireless business saw postpaid phone net subscriber additions of 164,000, with total mobile phone net adds of 221,000, up 30,000 from last year. Year-to-date total net wireless additions reached 448,000, up 137% from last year [10][25] - In the media segment, revenue grew by 12%, driven by strong attendance at sports events and increased advertising revenues [33] - Cable segment experienced a decline in subscriber growth due to aggressive promotional activities from competitors, with 6,000 retail Internet net customer additions and positive video net additions of 7,000 [32][30] Market Data and Key Metrics Changes - The Canadian wireless market remains competitive, with Rogers capturing approximately one-third of the sector's mobile phone net adds, totaling around 666,000 for the quarter [27] - Roaming revenues increased by 130% compared to the pre-pandemic third quarter of 2019, reflecting a recovery in global travel [28] - Postpaid mobile phone churn was reported at 0.97%, slightly up from 0.85% a year ago, but remained under 1% [27] Company Strategy and Development Direction - The company is focused on enhancing network resiliency and customer experience, with a capital expenditure of $872 million in Q3, up 18% year-over-year, marking a record quarter for capital investment [18][35] - The ongoing acquisition of Shaw is expected to enhance competition and consumer choice, with management expressing confidence in the regulatory process [8][20] - The company aims to maintain its full-year guidance despite the impact of customer credits, indicating strong operational execution [18][42] Management's Comments on Operating Environment and Future Outlook - Management noted that inflationary pressures have not materially impacted the business, and they continue to monitor the economic environment closely [42][92] - For Q4, the company anticipates growth in service revenue and adjusted EBITDA across all business segments, with wireless expected to see mid-to-high single-digit growth [43][44] - Management expressed optimism about the ongoing demand for unlimited plans and the overall strength of the wireless market [10][58] Other Important Information - The company reported free cash flow of $279 million, down from $507 million the previous year, primarily due to higher capital expenditures and interest on borrowings [36] - The debt leverage ratio at quarter-end was 3.2x, down from 3.4x at the end of 2021, indicating a solid financial position [38] Q&A Session Summary Question: Concerns about promotional activity in wireless and its impact on revenue and EBITDA - Management indicated that the difference in revenue and EBITDA growth is due to timing and lapping strong prior year results, not necessarily indicative of increased promotional spending [48][49] Question: Trends in wireless market growth and potential impacts from the outage - Management noted that immigration is a significant driver of growth, and the impact of the outage was isolated, with churn returning to normal levels [57][60] Question: Insights on Internet net add performance and competitive intensity - Management acknowledged the impact of the outage and competitive market conditions on net adds, but expects stronger results moving forward [75][78] Question: Outlook on ARPU and roaming revenues - Management expressed confidence in ARPU growth driven by increased usage and roaming revenues, which are above pre-pandemic levels [126] Question: Updates on DOCSIS 4.0 and network upgrades - Management stated that the rollout of DOCSIS 4.0 will occur when the technology is proven, with ongoing investments in fiber and cable infrastructure [106][108]
Rogers Communications(RCI) - 2022 Q3 - Quarterly Report
2022-11-09 13:03
MANAGEMENT'S DISCUSSION AND ANALYSIS This Management's Discussion and Analysis (MD&A) contains important information about our business and our performance for the three and nine months ended September 30, 2022, as well as forward-looking information about future periods. This MD&A should be read in conjunction with our Third Quarter 2022 Interim Condensed Consolidated Financial Statements (Third Quarter 2022 Interim Financial Statements) and notes thereto, which have been prepared in accordance with Intern ...
Rogers Communications(RCI) - 2022 Q2 - Earnings Call Presentation
2022-07-27 17:33
Q2 2022 Performance Highlights - Rogers reported 122,000 postpaid mobile phone net additions[9] - The company achieved a postpaid mobile phone churn rate of 0.68%[10] - Cable adjusted EBITDA increased by 6%[15] - Retail Internet net additions for Cable were +12,000[16] - Media revenue grew by 21%[22] - Media adjusted EBITDA increased by $77 million[23] Financial Results - Wireless service revenue and adjusted EBITDA both increased by 11% year-on-year[28] - Cable revenue increased by 3% to $1,041 million[31] - Cable adjusted EBITDA increased by 6% to $520 million[31] - Media revenue increased by 21% to $659 million[35] - Consolidated total service revenue increased by 10% to $3,443 million[41] - Consolidated adjusted EBITDA increased by 16% to $1,592 million[41] Financial Position - The company's debt leverage ratio is 3.2x[42] - Available liquidity stands at $3.8 billion[42] Guidance - Rogers maintains its guidance for 2022, projecting a 6% to 8% increase in total service revenue[43] - The company anticipates an 8% to 10% increase in adjusted EBITDA[43]
Rogers Communications(RCI) - 2022 Q2 - Earnings Call Transcript
2022-07-27 17:32
Rogers Communications, Inc. (NYSE:RCI) Q2 2022 Earnings Conference Call July 27, 2022 8:00 AM ET Company Participants Paul Carpino - VP, IR Anthony Staffieri - President, CEO & Director Glenn Brandt - CFO Conference Call Participants Vince Valentini - TD Securities Matthew Griffiths - Bank of America Merrill Lynch Maher Yaghi - Scotiabank Drew McReynolds - RBC Capital Markets David McFadgen - Cormark Securities Diego Barajas - Morgan Stanley Stephanie Price - CIBC Jerome Dubreuil - Desjardins Securities Ara ...
Rogers Communications(RCI) - 2022 Q2 - Quarterly Report
2022-07-27 12:19
MANAGEMENT'S DISCUSSION AND ANALYSIS Exhibit 99.1 This Management's Discussion and Analysis (MD&A) contains important information about our business and our performance for the three and six months ended June 30, 2022, as well as forward-looking information about future periods. This MD&A should be read in conjunction with our Second Quarter 2022 Interim Condensed Consolidated Financial Statements (Second Quarter 2022 Interim Financial Statements) and notes thereto, which have been prepared in accordance wi ...
Rogers Communications(RCI) - 2022 Q1 - Earnings Call Transcript
2022-04-20 15:08
Financial Data and Key Metrics Changes - Wireless service revenue increased by 7% year-over-year, supported by improvements in smartphone loading, churn performance, and growth in ARPU [8][24] - Postpaid mobile phone net additions were 66,000, more than triple the volume from last year, with churn improving by 12 basis points to 0.71% [9][25] - Mobile phone ARPU was $57.25, up 3% from one year ago, reflecting improvements in roaming revenue [9][26] - Total revenue for Q1 was up 4% and total service revenue increased by 6% year-over-year, largely driven by the wireless business [34] - Adjusted EBITDA increased by 11% with an adjusted EBITDA margin of 42.5%, up 260 basis points [34] Business Line Data and Key Metrics Changes - In the cable segment, revenue was up 2% and adjusted EBITDA increased by 13%, driven by operational efficiencies and a modest price increase [10][28] - Media revenue grew by 10%, primarily due to higher sports-related advertising, although adjusted EBITDA fell by 12% due to increased programming and production costs [12][32] Market Data and Key Metrics Changes - The company reported strong postpaid mobile phone net customer additions, driven by low churn and increased market activity [24] - The cable business saw a slight decline in retail internet net customer additions, with 13,000 added in Q1, down from the previous year [31] Company Strategy and Development Direction - The company is focused on three priorities: better execution across businesses, increased investments in networks and customer service, and completing the Shaw transaction [5][6] - Significant investments were made in infrastructure, with a 34% increase in capital expenditures compared to last year, targeting close to $3 billion in infrastructure investment for the year [13][35] - The company aims to achieve $1 billion in synergies from the Shaw acquisition within the first 24 months post-closing [30][101] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's assets and execution, leading to an increased financial guidance for 2022 [16][41] - The company anticipates continued growth in service revenue and adjusted EBITDA, with expectations of a 7% improvement in wireless for Q2 [43] - Management noted that the competitive landscape remains intense, particularly in retail internet, but emphasized a shift towards whole home solutions [93] Other Important Information - The company successfully completed a $13.3 billion bond issuance to fund the Shaw transaction, with a weighted average cost of borrowing of 4.2% [38][39] - Cash flow from operating activities was over $800 million, up 20% year-over-year, largely due to higher adjusted EBITDA [15] Q&A Session Summary Question: Update on Shaw transaction and wireless landscape - Management refrained from commenting on rumors regarding the sale of Freedom Mobile but reiterated confidence in closing the Shaw transaction in Q2 [49][55] Question: Clarification on cable operating costs and content costs - Management indicated that some cost reductions are recurring, particularly in people costs, and emphasized ongoing efforts to achieve synergies ahead of the Shaw deal [60][62] Question: Competitive environment in retail internet - Management acknowledged the competitive landscape but noted a pivot towards whole home solutions, with a focus on increasing homes passed [93][95] Question: Path of deleveraging and inflation impact - Management confirmed the target of $1 billion in cost synergies post-closing and noted that inflationary pressures are being managed within the overall CapEx and OpEx structure [108][110]
Rogers Communications(RCI) - 2022 Q1 - Quarterly Report
2022-03-03 22:56
Table of Contents Rogers 2021 Annual Report Rogers Communications Inc. Table of Contents About the Company Our Purpose To connect Canadians to what matters most in their lives. 03 About Rogers 04 A Message from Tony 09 10 2021 Financial Report 06 A Message from Edward 146 Corporate and shareholder information 08 Executive Leadership Team 2 | ROGERS COMMUNICATIONS INC. 2021 ANNUAL REPORT Table of Contents A Message from Tony My fellow shareholders, It is a privilege and an honour to serve you, our Board and ...
Rogers Communications(RCI) - 2021 Q4 - Earnings Call Transcript
2022-01-27 17:11
Rogers Communications Inc. (NYSE:RCI) Q4 2021 Earnings Conference Call January 27, 2022 8:00 AM ET Company Participants Paul Carpino – Vice President-Investor Relations Tony Staffieri – President and Chief Executive Officer Paulina Molnar – Interim Chief Financial Officer Jorge Fernandes – Chief Technology and Information Officer Conference Call Participants Drew McReynolds – RBC Vince Valentini – TD Securities David Barden – Bank of America Jeff Fan – Scotiabank Aravinda Galappatthige – Canaccord Genuity S ...