Rogers Communications Ord Shs Class A T.RCI.A

Alternate Symbol(s): T.RCI.B | RCI | RCIAF

Rogers Communications Inc. is a wireless, cable, and media company. The Company provides connectivity and entertainment to Canadian consumers and businesses across the country. The Company also has a portfolio of media properties, which includes sports media and entertainment, television and radio broadcasting properties, multi-platform televised and online shopping and digital media. Its wireless segment provides wireless telecommunications operations for Canadian consumers and businesses. Its cable segment is engaged in cable telecommunications operations, including Internet, television, and other video, satellite, telephony, and smart home monitoring services for Canadian consumers and businesses, and network connectivity through its fiber network and data center assets to support a range of voice, data, networking, hosting, and cloud-based services. Its media segment offers a diversified portfolio of media properties, including specialty channels, digital media, and others.

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Rogers Communications Ord Shs Class A

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Post by Betteryear2on Jul 26, 2023 9:06am

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Post# 35557366

Rogers Communications Reports Second Quarter 2023 Results

Rogers' Q2 results reflect strong execution and healthy growth across operations
- Rogers' postpaid mobile phone net additions of 170,000, up 39%; year to date postpaid mobile phone net additions of 265,000, up 41% from first six months of 2022
- Wireless service revenue up 7%; adjusted EBITDA up 9%
- Total service revenue up 32% and adjusted EBITDA up 38%
Rogers and Shaw integration proceeding ahead of plan, with Cable and Internet growth recovering
- Cable service revenue up 93%; adjusted EBITDA up 97%
- Strong Cable adjusted EBITDA margin up 100 basis points to 51%
- Internet loading of 25,000 with organic growth improving across the country
- Company reaffirms guidance of realizing at least $200 million of synergies in 2023, and annualized cost synergies of at least $600 million by the end of Q1 2024
Company commences deleveraging, driven by adjusted EBITDA growth and effective balance sheet management, while continuing to invest in networks and operational infrastructure
- Debt leverage ratio of 5.1x improved since completing the Shaw Transaction in April 2023 as a result of strong adjusted EBITDA growth; targeting further reduction to 4.9x debt leverage ratio by end of 2023
- Capital expenditures of $1,079 million, with network infrastructure spending up 24%
- Company focused on selling $1 billion in non-core assets
- Introducing changes to dividend reinvestment plan to include a price discount and use of treasury shares
Company's strong execution reflected in increasing 2023 outlook
- 2023 free cash flow outlook increased to between $2.2 billion and $2.5 billion compared to prior $2.0 billion to $2.2 billion outlook
- Adjusted EBITDA growth outlook increased to 33% to 36% compared to prior 31% to 35% outlook