Cogeco Communications Reports Fourth Quarter 2024 Results
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Cogeco Communications Reports Fourth Quarter 2024 Results

Cogeco Communications ( (CGEAF) ) has released its Q4 earnings. Here is a breakdown of the information Cogeco Communications presented to its investors.

Cogeco Communications Inc. is a prominent telecommunications company offering Internet, video, and wireline phone services in Canada and the United States, with a commitment to innovation and sustainability.

In its latest earnings report for the fourth quarter of fiscal 2024, Cogeco Communications announced significant progress in strategic initiatives, including network expansion, digitization, and operational synergies. The company also highlighted its successful integration of Canadian and U.S. telecom teams and the upcoming launch of wireless services in Canada.

Key financial metrics from the report include a revenue increase of 0.6% to $747.8 million and a 5.4% rise in adjusted EBITDA to $370.4 million. The company’s free cash flow saw a substantial growth of 66.6% to $148.2 million, driven by a decrease in capital expenditures and improved operational efficiencies. The quarterly dividend was increased by 8% to $0.922 per share, reflecting a strong capital return strategy.

Although the profit for the period decreased by 6.9% to $85.5 million, mainly due to higher depreciation and strategic investment costs, adjusted profit showed a modest increase, aided by share buybacks. The company plans to continue its growth-oriented investments and maintain a balanced capital strategy in fiscal 2025.

Looking ahead, Cogeco Communications aims for stable revenue and EBITDA in fiscal 2025 as part of a three-year transformation program focused on sustainable growth. The company remains optimistic about expanding its network footprint and enhancing its service offerings in both Canada and the U.S.

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