The earnings call presented a mixed outlook for Cogeco. While there were strong performances and growth in the Canadian market, including Internet subscriber growth and a new wireless service launch, significant challenges remain in the U.S. market with declining revenue and increased competition. The company's transformation program is yielding positive cost synergies, but market pressures, particularly in the U.S., affect overall performance.

Company Guidance -

Q4 2025

During the Cogeco Inc. and Cogeco Communications Inc. Q3 2025 earnings call, several key metrics and guidance updates were provided. The company reported a net debt to adjusted EBITDA ratio of 3.1x at the end of the third quarter, showing a decrease from 3.4x in Q2 due to lower net debt and favorable exchange rates. They experienced strong free cash flow performance and expect to generate approximately $600 million in free cash flow by fiscal 2027. In Canada, Cogeco added 9,400 new Internet subscribers during the quarter, although revenue declined by 1.8% due to fewer video and wireline phone subscribers. In the U.S., Breezeline's revenue declined by 6.6% in constant currency, with a loss of 10,400 Internet subscribers. The company revised its fiscal 2025 guidance, expecting a low single-digit decline in revenue due to U.S. competitive pressures but maintaining adjusted EBITDA guidance. Net capital expenditures are now anticipated to be between $600 million and $650 million, reduced from previous estimates. The Canadian wireless launch is set to expand into 12 markets before a full commercial release in the fall, initially targeting low to mid data users with exclusive offers for wireline customers.

Strong Canadian Internet Subscriber Growth

Cogeco reported strong Canadian Internet customer growth, adding 9,400 new Internet subscribers during the quarter. This growth is expected to continue with wireless and new Ontario network expansion projects.

Significant Free Cash Flow Improvement

Cogeco reported a 61.5% increase in free cash flow in constant currency due to lower CapEx and restructuring costs, with expectations to generate approximately $600 million in free cash flow by fiscal 2027.

OpEx and CapEx Synergies Ahead of Plan

The transformation program is resulting in operating and capital expenditure synergies being well ahead of plan, leading to a net CapEx reduction versus prior estimates.

Initial Launch of Canadian Wireless Service

Cogeco is set to launch a new Canadian wireless service, initially targeting low to mid data users and being exclusive to customers also buying wireline services.

Cogeco Inc. SV (TSE:CGO) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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TSE:CGO Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Oct 29, 2025	2025 (Q4)	1.96 / -	2.65	―	―	―
Jul 15, 2025	2025 (Q3)	2.18 / 2.40	3.02	-20.53% (-0.62)	―	―
Apr 09, 2025	2025 (Q2)	1.42 / 2.11	2.33	-9.44% (-0.22)	―	―
Jan 13, 2025	2025 (Q1)	2.88 / 2.82	2.57	9.73% (+0.25)	―	―
Oct 31, 2024	2024 (Q4)	2.38 / 2.65	2.12	25.00% (+0.53)	―	―
Jul 11, 2024	2024 (Q3)	2.81 / 3.02	2.43	24.28% (+0.59)	―	―
Apr 12, 2024	2024 (Q2)	1.90 / 2.33	2.15	8.37% (+0.18)	―	―
Jan 10, 2024	2024 (Q1)	3.28 / 2.57	2.67	-3.75% (-0.10)	―	―
Nov 01, 2023	2023 (Q4)	2.13 / 2.12	2.31	-8.23% (-0.19)	―	―
Jul 13, 2023	2023 (Q3)	2.16 / 2.43	2.37	2.53% (+0.06)	―	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

TSE:CGO Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Jul 15, 2025	C$67.18	C$61.27	-8.80%
Apr 09, 2025	C$59.18	C$54.17	-8.47%
Jan 13, 2025	C$57.04	C$52.76	-7.50%
Oct 31, 2024	C$58.00	C$57.26	-1.28%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

FAQ

When does Cogeco Inc. SV (TSE:CGO) report earnings?

Cogeco Inc. SV (TSE:CGO) is schdueled to report earning on Oct 29, 2025, After Close (Confirmed).

What is Cogeco Inc. SV (TSE:CGO) earnings time?

Cogeco Inc. SV (TSE:CGO) earnings time is at Oct 29, 2025, After Close (Confirmed).

Where can I see when companies are reporting earnings?

You can see which companies are reporting today on our designated earnings calendar.

What companies are reporting earnings today?

You can see a list of the companies which are reporting today on TipRanks earnings calendar.

What is TSE:CGO EPS forecast?

TSE:CGO EPS forecast for the fiscal quarter 2025 (Q4) is 1.96.

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