Rogers showed strong financial and operational performance, with record mobile and Internet additions and significant financial growth across segments. However, challenges such as declining roaming revenue and external pressures from government immigration policies were noted. The innovative financing strategy to reduce debt further strengthens their position.

Company Guidance

During the third quarter earnings call for Rogers Communications Inc. (RCI.B.TO), several key metrics and strategic initiatives were highlighted. The company reported a record 227,000 mobile phone and Internet net additions for the quarter, contributing to a total of 1.9 million net additions over the past 11 quarters. Wireless service revenue grew by 2% year-over-year, and wireless adjusted EBITDA increased by 5%, with an impressive wireless margin of 66%. The company also announced an innovative $7 billion structured equity financing transaction aimed at reducing debt, which is expected to bring the debt leverage ratio down to 3.7x by year-end, ahead of their previous 4.2x target. In cable, retail Internet net additions were 33,000, marking an 83% increase from the previous year, with cable adjusted EBITDA up by 5% and a margin of 58%. Meanwhile, the Sports & Media segment saw revenue growth of 11% and a 25% increase in adjusted EBITDA. Overall, Rogers reaffirmed its 2024 guidance targets and demonstrated significant progress in deleveraging and maintaining strong financial performance.

Record Mobile Phone and Internet Additions

Rogers added a record 227,000 mobile phone and Internet net additions in Q3 2024. Over the past 11 quarters, they have added 1.9 million mobile phone and Internet net additions.

Strong Financial Performance

Wireless service revenue grew by 2% year-over-year, and adjusted EBITDA increased by 6%. Cable adjusted EBITDA rose by 5% with a margin of 58%, an all-time high for the company.

Innovative $7 Billion Structured Equity Financing

Rogers announced a $7 billion structured equity financing with a leading global financial investor to acquire a minority stake in a portion of their wireless backhaul transport infrastructure, aiming to reduce debt leverage to 3.7x by year-end.

Sports & Media Revenue Growth

Sports & Media revenue increased by 11%, with adjusted EBITDA up 25% in the quarter.

Cable Performance Improvement

Cable revenue showed sequential improvement to a decline of only 1%, with expectations to return to growth in the fourth quarter.

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Rogers Communication (TSE:RCI.B) Earnings, Revenues Date & History

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TSE:RCI.B Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Jul 19, 2018	2018 (Q2)	- / 1.07	1	7.00% (+0.07)	―	―
Oct 19, 2018	2018 (Q3)	- / 1.21	1.01	19.80% (+0.20)	―	―
Jan 24, 2019	2018 (Q4)	- / 1.13	0.88	28.41% (+0.25)	―	―
Apr 18, 2019	2019 (Q1)	- / 0.78	0.9	-13.33% (-0.12)	―	―
Jul 23, 2019	2019 (Q2)	- / 1.16	1.07	8.41% (+0.09)	―	―
Oct 23, 2019	2019 (Q3)	- / 1.19	1.21	-1.65% (-0.02)	―	―
Jan 22, 2020	2019 (Q4)	- / 1.00	1.13	-11.50% (-0.13)	―	―
Apr 22, 2020	2020 (Q1)	- / 0.71	0.78	-8.97% (-0.07)	―	―
Jul 22, 2020	2020 (Q2)	- / 0.60	1.16	-48.28% (-0.56)	―	―
Oct 22, 2020	2020 (Q3)	- / 1.08	1.19	-9.24% (-0.11)	―	―

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

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TSE:RCI.B Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Oct 24, 2024	C$53.73	C$52.13	-2.99%
Jul 24, 2024	C$50.82	C$50.19	-1.24%
Apr 24, 2024	C$52.57	C$50.83	-3.31%
Feb 01, 2024	C$60.53	C$60.93	+0.67%

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.

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