Rogers Communications (NYSE:RCI) Q4 2025 Earnings call January 29, 2026 08:00 AM ET Company ParticipantsGlenn Brandt - CFOPaul Carpino - VP of Investor RelationsTony Staffieri - President and CEOConference Call ParticipantsAravinda Galappatthige - Managing Director and Senior Equity Research AnalystBatya Levi - Senior Equity Research AnalystDrew McReynolds - Managing Director and Senior Equity Research AnalystJérôme Dubreuil - Senior Equity Research AnalystMaher Yaghi - Managing Director and Senior Equity R ...

Rogers Communications (NYSE:RCI) Q4 2025 Earnings call January 29, 2026 08:00 AM ET Company ParticipantsGlenn Brandt - CFOPaul Carpino - VP of Investor RelationsTony Staffieri - President and CEOConference Call ParticipantsAravinda Galappatthige - Managing Director and Senior Equity Research AnalystBatya Levi - Senior Equity Research AnalystDrew McReynolds - Managing Director and Senior Equity Research AnalystJérôme Dubreuil - Senior Equity Research AnalystMaher Yaghi - Managing Director and Senior Equity R ...

Rogers Communications (NYSE:RCI) Q4 2025 Earnings call January 29, 2026 08:00 AM ET Speaker4Welcome to the Rogers Communications Inc. Fourth Quarter 2025 Results Conference Call. As a reminder, all participants are in listen-only mode, and the conference is being recorded. Following the presentation, we'll conduct a question-and-answer session. To join the question queue, you may press star then one on your telephone keypad. Should you need assistance during the conference call, you may reach an operator by ...

Rogers delivers strong Q4 financial results with total service revenue up 16% to $5.3 billion and adjusted EBITDA up 6% to $2.7 billionWireless financials reflect continued subscriber growth with balanced marketplace discipline Q4 service revenue of $2.1 billion, consistent with 2024; adjusted EBITDA of $1.4 billion, up 1%Q4 margin up 40 basis points to industry-leading 67%Added 39,000 total mobile phone net additions in Q4, including 37,000 postpaid subscribersQ4 postpaid churn of 1.43%, down 10 basis poin ...

HALIFAX, Nova Scotia, Jan. 28, 2026 (GLOBE NEWSWIRE) -- Rogers Communications today announced that all customers in Atlantic Canada on all 5G+ plans now have Rogers Satellite included at no extra cost for up to 24 months. Rogers Satellite is also available to all Canadians, regardless of their carrier for $15/month. “We’re focused on bringing customers plans that deliver the best value,” said Anne Martin-Vachon, President, Wireless. “By including Rogers Satellite in all our 5G+ plans in Atlantic Canada, we' ...

Core Insights - Rogers Communications Inc. is recognized as one of the top telecom stocks to invest in, with TD Cowen reaffirming a Buy rating and a price target of $64, highlighting the potential value in the company's sports assets [1] Financial Performance - In Q3 2025, Rogers Communications reported revenues of C$5.34 billion, marking a 4% increase year-over-year, with services revenue also up by 4% to C$4.7 billion [3] Sports Asset Valuation - The gross valuation of Rogers Communications' sports teams is estimated at $13.9 billion, which includes full ownership of the Blue Jays and 75% ownership of MLSE. After accounting for a 25% holding company/tax reduction, the adjusted value is approximately $10.5 billion [2]

Company Overview - Rogers Communications Inc. is one of Canada's largest diversified media and telecom companies, offering a broad range of services to consumers and businesses [5] Financial Performance - For the third quarter of 2025, Rogers Communications reported revenue of C$5.34 billion, representing a 4% increase from the previous year [3] - Services revenue also increased by 4% year-over-year, amounting to C$4.7 billion [3] Operational Achievements - The company launched Rogers Satellite, providing Canadians with three times more geographic coverage than any other carrier [4] - 5G service was activated across 4,650 meters of tunnels in the Toronto Transit Commission subway system [4] - Rogers partnered with the federal government to launch the Connected Robotics Living Lab, focusing on research in 5G and AI [4] - The rollout of next-generation WiFi 7 technology continued across the country [4] Market Outlook - Morgan Stanley raised its price target for Rogers Communications to C$50 from C$46 while maintaining an Underweight rating on the shares [2]

Rogers covers Canada coast-to-coast with new serviceService now includes voice and video calling with popular appsLaunches satellite-to-mobile IoT service for businesses TORONTO, Dec. 09, 2025 (GLOBE NEWSWIRE) -- Rogers Communications today announced the launch of Rogers Satellite, a first of its kind service that will keep Canadians connected. The new service now includes popular apps that offer voice and video calling. “We’re proud to be the first and only provider in the country to offer this ground-brea ...

Core Insights - Rogers Communications reported strong financial performance in Q3 2025, with significant growth in wireless and media segments, alongside improved customer loyalty and reduced churn rates [1][4][5] Wireless Segment - Wireless service revenue reached CAD 2.1 billion, with adjusted EBITDA of CAD 1.4 billion, reflecting a 1% increase [5] - The company added 111,000 mobile phone subscribers, including 62,000 postpaid and 49,000 prepaid, with a year-to-date total of 206,000 additions [5] - Postpaid churn decreased to 0.99%, the lowest in over two years, contributing to a wireless margin of 67% [5][29] - Equipment revenue increased by 9% due to higher device upgrades [27] Cable Segment - Cable revenue grew by 1% to CAD 1.981 billion, driven by retail Internet subscriber growth [55] - The adjusted EBITDA margin for the cable segment improved to 58%, up 70 basis points [30] - Retail Internet net additions were 29,000, with a total of 78,000 new subscribers year-to-date [5] Media Segment - Media revenue surged by 26% to CAD 753 million, bolstered by the success of the Toronto Blue Jays and the consolidation of MLSE results [28][66] - Adjusted EBITDA for the media segment decreased by 45% to CAD 75 million, primarily due to seasonal impacts from MLSE [30][66] - The company anticipates pro forma media revenue for 2025 to be approximately CAD 4 billion, with adjusted EBITDA of CAD 0.25 billion [5][25] Financial Performance - Total revenue for the quarter increased by 4% to CAD 5.348 billion, with total service revenue also up by 4% [6][26] - Net income rose significantly to CAD 5.808 billion, largely due to a non-cash gain from the MLSE transaction [31] - Free cash flow for the quarter was CAD 829 million, down 9% from the previous year [32] Strategic Developments - The company completed the acquisition of a 37.5% stake in MLSE for CAD 4.7 billion, increasing its ownership to 75% [12][13] - Rogers launched satellite-to-mobile text messaging services, expanding its coverage significantly across Canada [5][10] - The company is exploring options to unlock additional value from its sports assets, including potential minority interest sales or public offerings [14]

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]