Core Insights - Rogers Communications (RCI) reported Q2 2025 adjusted earnings of 82 cents per share, exceeding the Zacks Consensus Estimate by 2.5% but down 3.5% year over year [1][7] - Total revenues reached $3.77 billion, missing the consensus mark by 0.39% and reflecting a year-over-year increase of 1.3% [1][7] - The company experienced growth in service revenues across Wireless, Cable, and Media segments [7] Revenue Breakdown - Total revenues increased 2.4% year over year to C$5.22 billion, driven by growth in Wireless, Cable, and Media services [2] - Wireless revenues accounted for 48.7% of total revenues, increasing 3% year over year to C$2.54 billion, with service revenues rising 0.6% to C$2 billion [3] - Cable revenues, representing 37.7% of total revenues, grew 0.2% year over year to C$1.97 billion, while equipment revenues decreased significantly by 56.3% to C$7 million [5] - Media revenues, making up 15.5% of total revenues, increased 9.8% year over year to C$808 million [8] Subscriber Metrics - As of June 30, 2025, the prepaid mobile phone subscriber base increased by 92K to 1.16 million, with a monthly churn rate of 3.23% [3] - The postpaid wireless subscriber base reached 10.91 million, with net additions of 312K subscribers year over year and a churn rate of 1.0% [4] - Retail Internet subscribers totaled nearly 4.446 million, reflecting a net increase of 232K subscribers year over year [5] - Smart Home Monitoring subscribers reached 141K, an increase of 40K, while Home Phone subscribers decreased by 111K to nearly 1.45 million [6] Financial Performance - Adjusted EBITDA rose 1.6% year over year to C$2.36 billion, with a margin contraction of 40 basis points to 45.3% [9] - Free cash flow surged 38.9% year over year to C$925 million, driven by increased adjusted EBITDA and lower capital intensity [12] - Operating expenses increased 3.1% to C$2.85 billion, with a slight increase in operating costs as a percentage of revenues [9] Balance Sheet and Cash Flow - As of June 30, 2025, RCI had C$11.8 billion in available liquidity, including C$7 billion in cash and cash equivalents [10] - The debt leverage ratio was 3.6 times, nearing pre-Shaw acquisition levels, indicating accelerated deleveraging progress [11] - Cash flow from operating activities was C$1.60 billion, an increase of 8.4% year over year [11] Guidance - For 2025, RCI expects total service revenues to grow between 3% and 5%, with adjusted EBITDA growth projected between 0% and 3% [13]

Core Insights - Rogers Communication reported revenue of $3.77 billion for the quarter ended June 2025, reflecting a 1.3% increase year-over-year, but slightly below the Zacks Consensus Estimate of $3.78 billion, resulting in a surprise of -0.39% [1] - The company's EPS was $0.82, down from $0.85 in the same quarter last year, but exceeded the consensus estimate of $0.80, leading to an EPS surprise of +2.5% [1] Financial Performance - The stock of Rogers Communication has returned +17.2% over the past month, outperforming the Zacks S&P 500 composite's +5.9% change, and currently holds a Zacks Rank 2 (Buy) [3] Key Metrics - Wireless Subscriber - Postpaid mobile phone gross additions were 362 thousand, below the average estimate of 387.2 thousand [4] - Total Home Phone Subscribers stood at 1.45 million, slightly below the average estimate of 1.46 million [4] - Total Postpaid mobile phone subscribers reached 10.91 million, exceeding the average estimate of 10.82 million [4] - Postpaid churn was reported at 1%, better than the average estimate of 1.1% [4] - Prepaid mobile phone gross additions were 135 thousand, below the average estimate of 142.57 thousand [4] - Total prepaid mobile phone subscribers remained at 1.16 million, matching the average estimate [4] - Cable Subscriber net additions were 16 thousand, surpassing the average estimate of 9.61 thousand [4] - Total Customer Relationships in cable reached 4.83 million, exceeding the average estimate of 4.7 million [4] - Retail Internet net additions were 26 thousand, slightly above the average estimate of 24.32 thousand [4]

Summary of Rogers Communication's Quarterly Earnings Core Viewpoint - Rogers Communication reported quarterly earnings of $0.82 per share, exceeding the Zacks Consensus Estimate of $0.80 per share, but down from $0.85 per share a year ago, indicating a slight decline in year-over-year earnings performance [1][2]. Financial Performance - The company achieved revenues of $3.77 billion for the quarter ended June 2025, which was 0.39% below the Zacks Consensus Estimate, and a slight increase from $3.72 billion in the same quarter last year [2]. - Over the last four quarters, Rogers Communication has surpassed consensus EPS estimates two times and topped revenue estimates only once [2]. Stock Performance and Outlook - Since the beginning of the year, Rogers Communication shares have increased by approximately 11.1%, outperforming the S&P 500's gain of 7.3% [3]. - The company's earnings outlook is crucial for future stock performance, with current consensus EPS estimates at $0.97 for the upcoming quarter and $3.51 for the current fiscal year, with revenues projected at $3.85 billion and $15.26 billion respectively [7]. Industry Context - The Diversified Communication Services industry, to which Rogers Communication belongs, is currently ranked in the top 10% of over 250 Zacks industries, suggesting a favorable environment for stock performance [8]. - The correlation between near-term stock movements and earnings estimate revisions is strong, indicating that tracking these revisions can provide insights into future stock performance [5][6].

Financial Data and Key Metrics Changes - In Q2 2025, consolidated service revenue and adjusted EBITDA both grew by 2% year-over-year [9][22] - Wireless service revenue and adjusted EBITDA each increased by 1% [19] - Cable service revenue and adjusted EBITDA rose by 13% respectively, marking a return to growth in this segment [10][20] - Media revenue increased by 10%, driven by strong viewership during the NHL playoffs [10][21] - Free cash flow reached $925 million, up 39% year-over-year [23] Business Line Data and Key Metrics Changes - Wireless segment saw 61,000 total subscriber net additions, including 35,000 postpaid [19] - Cable business reported a 1% increase in service revenue, supported by retail internet net additions of 26,000 [20] - Media segment revenue was boosted by the success of Sportsnet and higher revenues from the Toronto Blue Jays [21] Market Data and Key Metrics Changes - The wireless market is expected to grow about 3% for the full year, with Q2 growth estimated at around 2.5% [54] - The competitive environment remains intense, impacting ARPU, which declined by 3% year-over-year [19][56] Company Strategy and Development Direction - The company is focused on deleveraging, having achieved a leverage ratio of 3.6 times, close to pre-Shaw acquisition levels [8][26] - Plans to monetize sports and media assets are underway, with a focus on unlocking unrecognized value for shareholders [7][42] - The company aims to maintain an investment-grade balance sheet while investing in growth [26] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about returning to growth in cable and maintaining strong performance in wireless and media [6][8] - The company highlighted the importance of government leadership in fostering a competitive environment and supporting capital investments [15][17] - Future guidance for 2025 has been updated to reflect the consolidation of MLSE, with service revenue expected to grow by 3% to 5% [28] Other Important Information - The company completed a $7 billion equity investment for a minority stake in parts of its wireless network [7] - The integration of MLSE's financial results will begin in Q3 2025, with estimated full-year media revenue of $3.9 billion [27] Q&A Session Summary Question: Update on 2025 guidance and core telecom outlook - Management confirmed that the updated guidance reflects the inclusion of MLSE, with no significant changes to the core telecom outlook [33] Question: Performance expectations for MLSE in 2025 - Management indicated that the pro forma figures for MLSE are a clean aggregation and do not include aggressive synergies [36] Question: Competitive environment in wireless and back-to-school season - Management noted that the wireless market is expected to grow about 3%, with ongoing efforts to simplify the value proposition [54][56] Question: Impact of roaming on service revenue - Management acknowledged that roaming has been a headwind but expects travel to pick up, which could positively impact service revenue [61] Question: Longer-term CapEx profile and cable CapEx reduction - Management stated that while they won't provide specific numbers, they intend to drive lower capital intensity within cable [105] Question: Multi-line discounts and ARPU impact - Management explained that while multi-line discounts may dilute ARPU, they are expected to generate incremental service revenue [115] Question: Synergies related to the MLSE deal - Management indicated that it is too early to discuss specific synergies but emphasized their track record in identifying material synergies [116]

Financial Data and Key Metrics Changes - In Q2, consolidated service revenue and adjusted EBITDA both grew by 2% year-over-year, with strong margins and free cash flow [6][21][22] - Wireless service revenue and adjusted EBITDA each grew by 1%, with total subscriber net additions of 61,000, including 35,000 postpaid [7][18] - Cable service revenue and adjusted EBITDA increased by 13% respectively, supported by strong retail Internet net additions of 26,000 [8][19] - Media revenue was up 10%, driven by expanded content and strong viewership during the NHL playoffs [8][20] - Free cash flow reached $925 million, a 39% increase year-over-year, due to higher adjusted EBITDA and lower capital intensity [22] Business Line Data and Key Metrics Changes - Wireless: Service revenue and adjusted EBITDA grew by 1%, with churn improving to 1% and blended mobile phone ARPU at $55.45, down 3% from the prior year [18][19] - Cable: Service revenue increased by 1%, with adjusted EBITDA up 3% year-over-year, driven by steady retail internet subscriber growth and cost efficiency initiatives [19][20] - Media: Revenue increased by 10% to over $800 million, with improved EBITDA driven by NHL playoffs and higher Toronto Blue Jays revenue [20][21] Market Data and Key Metrics Changes - The wireless market is expected to grow about 3% for the full year, with Q2 growth estimated at around 2.5% [55] - The competitive environment remains intense, impacting ARPU and subscriber growth, but the company is focused on improving customer retention and value propositions [56][57] Company Strategy and Development Direction - The company is focused on deleveraging and maintaining an investment-grade balance sheet while investing in growth [5][24] - The acquisition of a 75% controlling interest in MLSE is expected to unlock significant value in sports and media assets, with a pro forma estimate of $3.9 billion in revenue for 2025 [5][26] - The company aims to monetize its sports assets and strengthen its balance sheet, with ongoing discussions about various options [41][42] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about returning to growth in cable and maintaining discipline in wireless and media segments [4][6] - The company highlighted the importance of government leadership in fostering competition and investment in the telecommunications sector [15][16] - Future guidance for 2025 reflects a service revenue growth expectation of 3% to 5%, with adjusted EBITDA unchanged at 0% to 3% [27][28] Other Important Information - The company launched satellite to mobile texting, expanding coverage significantly across Canada [10][11] - Capital expenditures decreased by 17% year-over-year, reflecting a focus on lowering capital intensity while investing in network infrastructure [22][23] Q&A Session Summary Question: Update on 2025 guidance and core telecom outlook - Management confirmed that the updated guidance reflects the inclusion of MLSE and shows a return to growth in cable and continued growth in wireless [31] Question: MLSE performance expectations - Management indicated that it is too early to provide specific guidance for MLSE's performance but emphasized the clean aggregation of businesses for 2025 [34][36] Question: Monetization of sports assets - Management acknowledged significant underlying value in sports assets and is focused on monetizing them to strengthen the balance sheet [41][42] Question: Sustainability of cable EBITDA growth - Management expressed confidence in the sustainability of cable growth due to market share performance and ongoing cost efficiency initiatives [43][44] Question: Competitive environment in wireless - Management noted that the wireless market is experiencing lower growth due to reduced immigration but remains optimistic about subscriber growth and ARPU improvement [55][56] Question: Wireless roaming impact on service revenue - Management highlighted that roaming has been a headwind but expects travel to pick up, which could positively impact service revenue [61][62] Question: CapEx profile and potential reductions - Management indicated a focus on driving lower capital intensity in cable, with ongoing efforts to prioritize investments [102][103] Question: Multi-line discounts impact on ARPU - Management stated that while multi-line discounts may dilute ARPU, they are expected to generate incremental service revenue [110][111] Question: Synergies related to MLSE deal - Management confirmed that it is too early to discuss specific synergies from the MLSE deal, but planning is underway [112][113]

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, 2025, as well as forward-looking information (see "About Forward-Looking Information") about future periods. This MD&A should be read in conjunction with our Second Quarter 2025 Interim Condensed Consolidated Financial Statements (Second Quarter 2025 Interim Financial Statements) and notes thereto, ...

Financial Outlook - Rogers Communications increased its 2025 revenue outlook [1] Business Development - Rogers Communications acquired control of Toronto's basketball and hockey teams [1]

Q2 2025 Results July 23, 2025 1 Cautionary note The following materials are for presentation purposes only. They accompany the discussions held during Rogers Communications Inc.'s (Rogers) investor conference call on July 23, 2025. Certain statements made in this presentation, including, but not limited to, statements relating to expected future events, financial and operating results, guidance, objectives, plans, strategic priorities and other statements that are not historical facts, are forward-looking. ...

Core Insights - Rogers Communications Inc. reported strong financial performance in the second quarter of 2025, with growth across Wireless, Cable, and Media segments, and significant free cash flow generation [5][6][25] - The company completed a transformational investment by acquiring a 37.5% stake in Maple Leaf Sports & Entertainment (MLSE), increasing its ownership to 75% [3][14] - The updated 2025 outlook reflects the impact of the MLSE acquisition, with total service revenue expected to grow by 3% to 5% [7][21] Financial Performance - Total revenue for Q2 2025 was CAD 5,216 million, a 2% increase from CAD 5,093 million in Q2 2024 [8][41] - Total service revenue also increased by 2% to CAD 4,668 million, with adjusted EBITDA rising by 2% to CAD 2,362 million [8][41] - Free cash flow reached CAD 925 million, up 39% year-over-year [6][31] Segment Performance Wireless - Wireless service revenue increased by 1% to CAD 1,999 million, with adjusted EBITDA rising by 1% to CAD 1,305 million [44][41] - The company added 61,000 mobile phone subscribers, including 35,000 postpaid subscribers, with a postpaid churn rate of 1.00% [6][46] - Mobile phone blended ARPU was CAD 55.45, reflecting competitive market conditions [6][46] Cable - Cable service revenue increased by 1% to CAD 1,961 million, with adjusted EBITDA up 3% to CAD 1,147 million [52][41] - Retail Internet net additions were strong, with 26,000 new subscribers [6][52] - The company reported a decrease in video subscribers, with net losses of 25,000 [52][56] Media - Media revenue surged by 10% to CAD 808 million, driven by expanded content and strong NHL playoff audiences [6][63] - Adjusted EBITDA for the Media segment was CAD 5 million, a significant improvement from a loss in the previous year [63][41] - The company aims to unlock value from its sports assets, including the newly acquired MLSE [14][17] Strategic Developments - The company has made significant investments in network infrastructure, including the deployment of 5G technology and expansion of fibre networks [11][68] - Rogers became the first Internet provider in Canada to deliver WiFi 7, enhancing customer experience [11] - The company is focused on bridging the digital divide by expanding its network into underserved areas [69][70] Capital Expenditures - Total capital expenditures for Q2 2025 were CAD 831 million, a decrease of 17% from CAD 999 million in Q2 2024 [65][41] - The company continues to prioritize capital investments in network development and efficiency [70][71] - Capital intensity decreased to 15.9% from 19.6% year-over-year, reflecting improved capital management [65][73]

TORONTO, July 21, 2025 (GLOBE NEWSWIRE) -- Rogers Communications Inc. (“Rogers” or the “Company”) (TSX: RCI.A and RCI.B; NYSE: RCI) announced the pricing terms of its previously announced separate offers (the “Offers”) to purchase for cash up to the Maximum Purchase Amount (as defined in the Offer to Purchase dated July 11, 2025 (the “Offer to Purchase”), as previously amended) of its outstanding notes of the series listed in the table below (collectively, the “Notes”). The Offers The Offers were made upon ...