What is Rogers Communications's gross profit margin?

What is the market's earnings forecast for Rogers Communications next quarter?

Did Rogers Communications beat or miss consensus estimates last quarter?

What were the key takeaways from Rogers Communications's earnings call?

What were the key takeaways from Rogers Communications’s earnings call?

What guidance did Rogers Communications's management provide for the next earnings period?

What is the revenue and EPS growth rate for Rogers Communications year over year?

What does Rogers Communications do and what are its main business segments?

- **Revenue Growth**: Q4 service revenue up 16%, EBITDA up 6%, driven by wireless margin (67%) and media success (EBITDA +4x YoY).
- **Balance Sheet Strength**: Debt leverage 3.9x, free cash flow CAD 1B (16% YoY). 2026 guidance: 3-5% service rev growth, 1-3% EBITDA growth.
- **Strategic Moves**: Rogers Satellite now in all 5G+ plans; MLSE purchase later this year for sports monetization.
- **Cost Efficiency**: Capital intensity 15% (lowest since 2017), CapEx down 8% YoY.

**【CEO Summary Section】**
- **Strong Financial Performance**: Q4 revenue up 16% YoY to CAD 5.3B, Adjusted EBITDA up 6% to CAD 2.7B. Full-year service revenue and EBITDA grew 5% and 2%, respectively.
- **Wireless Leadership**: Industry-leading 67% wireless margin, 39K net adds (37K postpaid), and 1.43% churn. Rogers Satellite now included in all 5G+ plans in Atlantic Canada.
- **Cable Resilience**: 22K internet net adds, 59% margin (up 30bps YoY). Full-year internet adds 100K, reversing 4% annual decline.
- **Media Triumph**: Media revenue CAD 1.2B (2x YoY), EBITDA CAD 221M (4x YoY). Blue Jays World Series Game 7 was Canada’s most-watched broadcast ever.
- **Balance Sheet Strength**: Debt leverage 3.9x (down 0.6x YoY), free cash flow CAD 1B (16% YoY growth). 2026 guidance: 3-5% service rev growth, 1-3% EBITDA growth.

**【CFO Financial Commentary】**
- **Q4 Financials**: GAAP net income CAD 420M, Non-GAAP EPS exceeded expectations. Wireless service revenue flat YoY, but EBITDA up 1% to CAD 1.4B.
- **Capital Efficiency**: CapEx CAD 3.7B (-8% YoY), capital intensity 15% (lowest since Q2 2017). Free cash flow CAD 3.3B for 2025 (+10% YoY).
- **MLSE Integration**: Pro forma 2025 media revenue CAD 4.1B, EBITDA CAD 400M. Plans to purchase remaining 25% stake in MLSE later this year.
- **2026 Outlook**: CapEx CAD 3.3-3.5B (-16% YoY), free cash flow CAD 3.3-3.5B. Focus on cost control and sports monetization.

**【Q&A Key Highlights】**
- **Wireless Market Dynamics**: 2-2.5% growth driven by penetration, not immigration. Competitors’ uneconomic discounting (e.g., CAD 20 plans) risks long-term fundamentals.
- **ARPU Trends**: ARPU down 2.8% Q4, but ARPU N positive. Satellite adoption driving value beyond price.
- **Sports Monetization**: MLSE purchase later this year, with synergies expected in 2026-2027. Media EBITDA could double with sports monetization.
- **Capital Allocation**: Free cash flow to deleverage (target 3x leverage) and invest in growth (e.g., satellite, sports).

Rogers Communications Inc (RCI) Q4 2025 Earnings Call Transcript

- **Revenue Growth**: Wireless (+1% EBITDA YoY), cable (+2% EBITDA YoY), media (+26% revenue YoY). 
- **Customer Expansion**: 111K mobile net adds, 29K cable adds, 80K 5G home internet subs YoY. 
- **Margin Leadership**: Wireless (67%), cable (58%) lead industry; media EBITDA $75M (Q3 low). 
- **Strategic Wins**: Satellite-to-mobile trial >$1M sign-ups, 5G home internet adoption surging. 
- **Debt Management**: Free cash flow up to $3.3B, leverage at 3.9x, MLSE recapitalization planned for 2026. 
- **Sports Value**: $15B+ sports portfolio undervalued; Blue Jays World Series impact on brand and cross-promotion. 


**【CEO Opening Remarks】**
- **Q3 Performance Highlights**: Delivered industry-leading wireless and cable margins (67% and 58% respectively), with 111,000 mobile net additions and 29,000 cable internet additions. Media revenue grew 26% YoY, driven by Blue Jays success and MLSE consolidation. 
- **Strategic Initiatives**: Satellite-to-mobile beta trial extended, offering 3x coverage of competitors. 5G home internet and Wi-Fi 7 leadership in cable. 
- **Financial Discipline**: Debt leverage at 3.9x, below target, with free cash flow guidance raised to $3.2-3.3B. 

**【CFO Financial Commentary】**
- **Wireless**: Service revenue flat YoY, EBITDA up 1% due to cost efficiencies. ARPU down 3% YoY, but churn at 0.99% (lowest in 2+ years). 
- **Cable**: Service revenue +1% YoY, EBITDA +2%, driven by 5G home internet and bundled services. 
- **Media**: Revenue $753M (+26% YoY), EBITDA $75M (seasonally low Q3). MLSE expected to be accretive in Q4. 
- **Capital Allocation**: 2025 CapEx reduced to $3.7B (from $3.8B), free cash flow up $100M YoY. 

**【Q&A Highlights】**
- **Wireless Competition**: Focused on value-added plans and churn reduction, with ARPU stabilization expected. Satellite-to-mobile trial sees >$1M sign-ups, targeting data launch in Q4 and voice in 2026. 
- **Sports Assets**: $15B+ sports/media portfolio (including Blue Jays, MLSE) undervalued; 25% MLSE stake acquisition planned for 2026, with potential recapitalization. 
- **Balance Sheet**: Committed to investment-grade ratings; 2026 focus on deleveraging and free cash flow growth. 
- **5G Home Internet**: Leading adoption with 80,000+ year-to-date additions, driving cable margin expansion. 


Rogers Communications Inc (RCI) Q3 2025 Earnings Call Transcript

- **Record Q2 Performance**: 2% service rev/EBITDA growth, $925M free cash flow, 3.6x leverage (vs 4.5x pre-Shaw). 
- **Strategic Landmarks**: 
  - $7B equity deal reduces interest cost by $50M/quarter. 
  - MLSE acquisition adds $3.9B annual Media rev, $250M EBITDA. 
  - Satellite texting covers 2.5x more territory than competitors. 
- **Growth Drivers**: 
  - Wireless: 1% rev growth, 61K net adds, 1% churn. 
  - Cable: 3% EBITDA growth, 26K Internet adds. 
  - Media: 10% rev growth (MLSE, Blue Jays). 
- **Risks**: CRTC reseller decision could force $B+ capital cuts, threatening network investment. 


**【CEO Opening Remarks】**
- **Q2 Financial Highlights**: Consolidated service revenue and adjusted EBITDA grew 2% YoY, driven by Wireless (1% growth), Cable (1% service rev, 3% EBITDA), and Media (10% growth). Free cash flow reached $925M (+39% YoY). 
- **Strategic Wins**: 
  - Completed $7B equity investment to deleverage, reducing leverage to 3.6x (vs 4.5x pre-Shaw). 
  - Acquired 75% control of MLSE, valued at $15B+ sports/media assets. Media segment now includes MLSE, projecting 2025 rev of $3.9B and EBITDA $250M. 
  - Launched satellite-to-mobile texting (beta trial) covering 2.5x more territory than competitors. 
- **Market Concerns**: Criticized CRTC decision allowing resellers on competitor networks, warning it could force $B+ in capital cuts. 

**【CFO Financial Commentary】**
- **Wireless**: 
  - Service rev/EBITDA +1% YoY, 61K net adds (35K postpaid). 
  - ARPU $55.45 (-3% YoY) due to roaming decline, but improving base mgmt (churn 1%). 
  - Margins up 10bps to 65.1%. 
- **Cable**: 
  - Service rev +1%, EBITDA +3% (58% margin). 26K Internet net adds. 
  - Cost efficiency initiatives drove 3% opex decline. 
- **Media**: 
  - Rev +10% to $800M (MLSE, Blue Jays, Warner Bros. channels). EBITDA +$5M YoY. 
  - Programming costs up 9% (MLSE, Blue Jays payroll). 
- **Balance Sheet**: 
  - $12B liquidity ($7B cash + $5B credit). 
  - 2025 free cash flow guidance unchanged at $3-3.2B. 
  - Distributing $400M annually to Blackstone fund (6.25% cost). 

**【Q&A Highlights】**
- **MLSE Monetization**: No timeline yet, but exploring all options to unlock $15B+ asset value. 2026 EBITDA accretion expected. 
- **Wireless Growth**: 1% Q2 rev growth reflects moderating market. 2025 service rev guidance raised to +3-5% (prev +0-3%). 
- **Satellite Expansion**: Voice/data support coming late 2026. Beta trial sign-ups strong, pricing $10-15/month. 
- **Cable Sustainability**: 3% EBITDA growth despite flat rev due to cost cuts. 5G home internet adds 7M homes passed. 
- **Regulatory Risk**: CRTC decision could force $B+ capital cuts, threatening network investment. Federal gov review underway. 


Rogers Communications Inc. (RCI) Q2 2025 Earnings Call Transcript

- **2% Revenue Growth**: Service revenue and EBITDA both up 2% YoY, driven by Wireless and Cable margin improvements.
- **Deleveraging Success**: Pro forma leverage down to 3.6x after $9B equity transactions, lowest among Canadian carriers.
- **Sports Asset Value**: $15B+ valuation post-MLSE deal, with external investor interest in sports portfolio.
- **Network Innovation**: Launch of 4G symmetrical speeds and Rogers Xfinity modem leading industry.
- **ARPU Outlook**: Expect stabilization in 2H2025 with pricing discipline and multiline strategy.


**【CEO Summary Section】**
- Q1 2025 service revenue and adjusted EBITDA both grew 2% YoY, with Wireless and Internet net additions of 57,000 despite slower market growth. 
- Emphasized disciplined execution in a competitive environment, with Wireless margin up 40bps to 65% and Cable margin up 110bps to 57%.
- Key priorities: delevering balance sheet (leverage reduced to 3.6x pro forma), advancing sports assets (MLSE deal expected to close mid-2025), and network innovation (Rogers Xfinity 4G symmetrical speeds launched in Calgary).

**【CFO Financial Commentary】**
- Completed $4B hybrid securities issuance and $7B Blackstone equity transaction, reducing leverage to 3.6x pro forma.
- Wireless ARPU down 2% to $57 due to roaming decline, but postpaid churn improved to 1%.
- Cable revenue down 1% YoY due to competitive pressure, but EBITDA up 1% from cost efficiencies.
- Sports segment revenue +24% YoY, driven by Blue Jays games and Warner Bros. content.
- Free cash flow $586M, flat YoY, with capex down 8% to $978M.

**【Q&A Highlights】**
- **Wireless Pricing**: Management expects ARPU stabilization in 2H2025 with simplified pricing plans and multiline consolidation focus.
- **Cable Growth**: Internet net adds expected to return to growth in 2H2025, offsetting video subscriber losses.
- **MLSE Value**: Management estimates sports assets worth $15B post-MLSE acquisition, with ongoing investor interest in minority stakes.
- **Tariffs Impact**: Minimal direct impact on handset sourcing, but monitoring US-China trade tensions.
- **Satellite Tech**: Partnering for nationwide coverage expansion, but sees it as wireless/wireline complement, not replacement.


Rogers Communications Inc. (RCI) Q1 2025 Earnings Call Transcript

- **Subscriber Dominance**: Added 623,000 net wireless/internet users in 2024, leading Canada with 66% wireless margins.
- **Cable Revival**: Q4 cable revenue growth (+30% internet adds), media EBITDA up 9% to $53M.
- **Network Investment**: $4B spent on 5G and internet, achieving Canada's most reliable networks.
- **Strategic Deals**: $4.7B MLSE stake purchase (75% ownership) and $7B wireless backhaul financing to deleverage.
- **2025 Outlook**: Service revenue/EBITDA growth 0-3%, free cash flow $3.0-3.2B, capex $3.8-4.0B.

**【CEO Summary Section】**
- **Market Leadership**: Rogers added 623,000 net wireless and internet subscribers in 2024, leading the industry with 95,000 Q4 net postpaid/prepaid phone additions. Wireless margins reached 66%, highest in the industry.
- **Cable Growth**: Returned to cable revenue growth in Q4 (30% internet net adds), with EBITDA up 5% and margins at 59%. Media revenue rose 10% driven by sports and entertainment.
- **Network Innovation**: Invested $4B in 2024 to expand 5G and internet infrastructure, achieving Canada's most reliable networks. Rolled out Rogers Xfinity app TV and home internet backup solutions.
- **Strategic Transactions**: Announced $4.7B MLSE stake purchase (75% ownership) and $7B structured equity deal for wireless backhaul, aiming to deleverage and maintain investment-grade balance sheet.

**【CFO Financial Commentary】**
- **Q4 Financials**: Total service revenue +2%, adjusted EBITDA +9%. Wireless EBITDA +6%, cable EBITDA +5%. Free cash flow $0.9B (7% YoY growth).
- **Balance Sheet**: $4.8B liquidity, debt leverage 4.5x. 2025 guidance: service revenue/EBITDA growth 0-3%, capex $3.8-4.0B, free cash flow $3.0-3.2B.
- **MLSE Update**: Waiting on league and CRTC approvals. No RCI common shares issued for funding. 2025 outlook excludes MLSE impact.

**【Q&A Key Highlights】**
- **Market Growth**: 2025 wireless market expected to grow 3% (vs 4% in 2024). Cable market expansion via fixed wireless access (6.5M new addressable homes).
- **ARPU Dynamics**: Wireless ARPU stable at $58. Cable video decline offset by internet growth and cost efficiencies (+7% opex reduction).
- **CapEx Allocation**: 2025 capex focused on DOCSIS 4.0 rollout, mid-split upgrades, and network reliability. No significant rural subsidies beyond current contracts.
- **Balance Sheet Strategy**: Prioritize debt reduction via free cash flow ($3B+ annual) and structured equity deal. No plans to issue RCI shares for MLSE.

Actual											0.4988	0.4405	0.8085	0.7771	0.6126	0.6137	0.8118	0.759	0.7273	0.6678	0.607	0.8041	0.8059	0.7695	0.9348	0.8979	0.7308	0.8476	1.0495	1.0146	0.6879	0.8373	0.9837	1.1002
Forecast											0.556	0.5281	0.5842	0.7641	0.5192	0.6122	0.8116	0.7499	0.6655	0.655	0.6183	0.7335	0.7111	0.8398	0.8203	0.842	0.7241	0.8491	1.014	0.9447	0.702	0.81	0.8857	1.0199	0.7429
Surprise	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-10.29%	-16.59%	+38.39%	+1.70%	+17.99%	+0.25%	+0.02%	+1.21%	+9.29%	+1.95%	-1.83%	+9.63%	+13.33%	-8.37%	+13.96%	+6.64%	+0.93%	-0.18%	+3.50%	+7.40%	-2.01%	+3.37%	+11.06%	+7.87%	0.00%

RCI

RCI fundamentals

RCI Q1 2026 Earnings Preview

Earnings Call

You can ask Aime

RCI

RCI fundamentals

RCI Q1 2026 Earnings Preview

Earnings Call

RCI Earnings Call Summary for Q1/2026Upcoming8:00 AM on Apr 22, 2026

RCI Earnings Call Summary for Q4/20258:00 AM on Jan 29, 2026

RCI Earnings Call Summary for Q3/20258:00 AM on Oct 23, 2025

RCI Earnings Call Summary for Q2/20258:00 AM on Jul 23, 2025

RCI Earnings Call Summary for Q1/20258:00 AM on Apr 23, 2025

You can ask Aime