Earnings summaries and quarterly performance for ROGERS COMMUNICATIONS.
Research analysts who have asked questions during ROGERS COMMUNICATIONS earnings calls.
Aravinda Galappatthige
Canaccord Genuity
7 questions for RCI
Also covers: BCE, QBCRF, TIXT +1 more
Drew McReynolds
RBC Capital Markets
7 questions for RCI
Also covers: BCE, EGLXF, QBCRF +2 more
JD
Jérome Dubreuil
Desjardins Group
7 questions for RCI
Also covers: ALYAF, BCE, GIB +3 more
Maher Yaghi
Scotiabank
7 questions for RCI
Also covers: BCE, QBCRF, TRI +1 more
VV
Vince Valentini
TD Securities
7 questions for RCI
Also covers: BCE, ILLMF, QBCRF +2 more
BL
Batya Levi
UBS
6 questions for RCI
Also covers: AMT, BCE, CCI +6 more
MG
Matthew Griffiths
Bank of America
5 questions for RCI
Also covers: BCE, QBCRF
TC
Tim Casey
BMO Capital Markets
5 questions for RCI
Also covers: BCE, QBCRF, TRI +1 more
SP
Stephanie Price
CIBC World Markets
4 questions for RCI
Also covers: BCE, DCBO, DSGX +6 more
DM
David McFadgen
Cormark Securities
2 questions for RCI
Also covers: BRAG, QBCRF, TSAT
BL
Batia Levi
UBS
1 question for RCI
DB
David Barden
Bank of America
1 question for RCI
Also covers: AMT, BCE, CCI +10 more
MG
Matt Griffiths
Bank of America Merrill Lynch
1 question for RCI
Also covers: TU
PH
Patrick Ho
Morgan Stanley
1 question for RCI
Also covers: BCE
PR
Patrick Roe
Morgan Stanley
1 question for RCI
SP
Sebastiano Petti
JPMorgan Chase & Co.
1 question for RCI
Also covers: ATUS, BCE, CABO +14 more
SF
Simon Flannery
Morgan Stanley
1 question for RCI
Also covers: ABBN.SW, AMT, BCE +11 more
Recent press releases and 8-K filings for RCI.
Rogers Communications Reports Strong Q4 and Full-Year 2025 Results, Provides 2026 Guidance
RCI
Earnings
Guidance Update
M&A
- Rogers Communications (RCI) reported strong Q4 and full-year 2025 results, meeting or exceeding all 2025 guidance targets. Q4 2025 saw consolidated service revenue increase by 16% to CAD 5.3 billion and Adjusted EBITDA rise 6% to CAD 2.7 billion.
- For the full year 2025, RCI achieved revenue of CAD 21.7 billion and EBITDA of CAD 9.8 billion. The company significantly improved capital efficiency, with Q4 capital expenditures down 7% and capital intensity at an eight-year low of 15%.
- RCI's balance sheet strengthened, with debt leverage reduced to 3.9 times by year-end, achieving pre-Shaw levels nine months ahead of target. Full-year 2025 free cash flow exceeded CAD 3.3 billion, up 10% year-over-year.
- The company provided a positive 2026 outlook, projecting total service revenue growth of 3%-5% and Adjusted EBITDA growth of 1%-3%. Capital expenditures are expected to decline further to CAD 3.3 billion-CAD 3.5 billion, with higher free cash flow in the same range.
- Key strategic moves in 2025 included closing the acquisition of a 75% interest in MLSE and launching Rogers Satellite, Canada's first satellite-to-mobile wireless service.
Jan 29, 2026, 1:00 PM
Rogers Communications Reports Strong Q4 2025 Results and Positive 2026 Outlook
RCI
Earnings
Guidance Update
M&A
- Rogers Communications reported consolidated service revenue up 16% to CAD 5.3 billion and Adjusted EBITDA up 6% to CAD 2.7 billion in Q4 2025. The media business saw Q4 revenue more than double to CAD 1.2 billion and Adjusted EBITDA increase more than fourfold.
- For the full year 2025, the company exceeded its upgraded guidance metrics, achieving free cash flow over CAD 3.3 billion (up 10% year-over-year) and reducing debt leverage to 3.9 times (a 0.6 times improvement from last year), reaching pre-Shaw levels nine months ahead of schedule.
- Rogers projects a 2026 outlook with total service revenue growth of 3%-5% and Adjusted EBITDA growth of 1%-3%. The company also anticipates lower capital expenditures in the range of CAD 3.3 billion-CAD 3.5 billion and higher free cash flow in the range of CAD 3.3 billion-CAD 3.5 billion.
- Key strategic initiatives in 2025 included acquiring a 75% controlling interest in MLSE and launching Rogers Satellite, Canada's first wireless carrier to offer satellite-to-mobile services. The company also plans to purchase the remaining 25% stake in MLSE later in 2026.
Jan 29, 2026, 1:00 PM
Rogers Communications Inc. Reports Strong Q4 and Full-Year 2025 Results, Provides 2026 Outlook
RCI
Earnings
Guidance Update
New Projects/Investments
- Rogers Communications Inc. (RCI) reported strong Q4 2025 and full-year 2025 financial and operating results, meeting or exceeding all upgraded 2025 guidance metrics.
- For Q4 2025, consolidated service revenue increased by 16% to CAD 5.3 billion, and Adjusted EBITDA grew 6% to CAD 2.7 billion. Full-year 2025 revenues reached CAD 21.7 billion (up 5%) and EBITDA was CAD 9.8 billion (up 2%).
- The company demonstrated improved capital efficiency, with Q4 capital expenditures down 7% and capital intensity at an eight-year low of 15%. Full-year 2025 free cash flow was over CAD 3.3 billion, exceeding guidance and up 10% year over year.
- Debt leverage improved to 3.9 times by year-end 2025, down 0.6 times from the previous year, achieving the pre-Shaw level ahead of schedule.
- The 2026 outlook projects total service revenue growth of 3%-5% and Adjusted EBITDA growth of 1%-3%. Capital expenditures are targeted to decline to the CAD 3.3 billion-CAD 3.5 billion range, with Free Cash Flow also projected to be in the CAD 3.3 billion-CAD 3.5 billion range.
Jan 29, 2026, 1:00 PM
Rogers Communications Launches Satellite-to-Mobile Service with App Support and IoT Connectivity
RCI
Product Launch
New Projects/Investments
- Rogers Communications launched Rogers Satellite, a new service offering coast-to-coast connectivity in Canada, including voice and video calling via popular apps like WhatsApp and Google Maps, in areas lacking traditional cell coverage.
- The company also introduced a satellite-to-mobile IoT service for businesses, providing connectivity in remote Canadian regions for applications such as fleet tracking and automated sensors.
- During a beta trial, customers sent over one million satellite text messages, and the service is priced at $15/month for all Canadians, with promotional offers for existing customers and discounts for beta trial participants.
Dec 9, 2025, 11:00 AM
Rogers Communications Discusses Wireless Market, MLSE Acquisition, and Leverage Reduction
RCI
M&A
New Projects/Investments
- Rogers Communications (RCI) is observing a stabilizing Canadian wireless pricing environment and has achieved churn improvements throughout the year, with the sector anticipating approaching 3% subscriber growth. The company is implementing add-a-line promotions and bundling services, including the Rogers Bank credit card and wireline/wireless bundles following the Shaw acquisition, to enhance customer relationships and reduce churn.
- The company completed the acquisition of the remaining 75% stake in MLSE in early July and intends to acquire the 25% minority stake held by Larry Tanenbaum around early July 2026, or potentially sooner. The combined MLSE and Rogers Sports & Media (100% interest) is currently valued at approximately $20 billion Canadian, with plans to introduce minority investors after securing the remaining stake.
- Rogers has significantly reduced its leverage from 5.3 times in April 2023 to 3.5 times at mid-year. After debt reduction from the Blackstone-led investment and data center sales, the company projects to conclude the year with leverage in the range of 3.9 to four times.
- Cable margins are currently at 58%, with expectations to reach 59% again, while wireless margins are in the 64-66% range. The company is focused on driving growth in subscribers, revenues, earnings, and free cash flow, anticipating further synergies from the MLSE consolidation.
Sep 25, 2025, 1:45 PM
Rogers Communications Discusses Wireless, Cable, and Sports Asset Strategies
RCI
New Projects/Investments
M&A
Guidance Update
- Rogers Communications has significantly improved its cable business, increasing combined margins with Shaw from 50% to 58%-59%, and is expanding its Fixed Wireless Access (FWA) product to address approximately 7 million additional homes.
- The company has made substantial progress in deleveraging, reducing its leverage from 5.3x post-Shaw acquisition to just under 3.6x at mid-year, with further reductions anticipated from a $300 million bond tender benefit and data center sale.
- Rogers now holds a 75% stake in MLSE, alongside 100% ownership of the Toronto Blue Jays and Rogers Centre, with these sports assets collectively valued at approximately CAD 15 billion. The company intends to acquire the remaining minority stake in MLSE by next summer and is exploring strategies to maximize and surface this value for shareholders.
- Rogers anticipates a declining capital intensity for both its wireless and wireline businesses in the coming years.
Sep 3, 2025, 4:16 PM
Quarterly earnings call transcripts for ROGERS COMMUNICATIONS.
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