Rogers Comm Stock Price, News & Analysis

Rogers Communications reported strong third-quarter results with total revenue of CAD 3.67 billion, nearly flat year-over-year, and a net income of CAD 490 million, down 4%. The company's Wireless segment added 175,000 postpaid customers, achieving a churn rate of 0.95%. Cable revenue grew by 3%, attributed to a rise in broadband users. Despite these gains, adjusted EBITDA declined by 2% primarily due to lower Media revenue, which fell by 3%. The ongoing acquisition of Shaw Communications is expected to close in early 2022, promising substantial investments in 5G networks.

Rogers Communications announces the departure of CFO Tony Staffieri effective September 29, 2021, with Paulina Molnar appointed as interim CFO. Molnar, who has been with Rogers for 16 years, brings 26 years of industry experience to the role. The company is moving forward with its Shaw transaction as anticipated, and will report its Q3 2021 results on October 21, 2021, aligning with the previous outlook shared on July 21, 2021. The statement includes caution about forward-looking statements and the inherent risks involved.

Rogers Communications has announced that select Rogers Infinite and Ignite TV plans now include exclusive offers for Disney+, available for up to 12 months. Customers can access a wide array of Disney titles, from classics to new releases. This partnership, the first between a Canadian telecom provider and Disney, enhances the viewer's experience by allowing easy access to content through voice commands. Customers can enjoy seamless streaming on the largest 5G network in Canada, further enriching family entertainment options, including simultaneous streaming on multiple devices.

Rogers Communications reported solid Q2 2021 results with total revenue growth of 14% year-over-year, reaching C$3.58 billion. Wireless service revenue grew by 2%, while adjusted EBITDA increased by 6%. The company added 99,000 postpaid subscribers, with churn down to 0.80%. Cable revenue rose 5%, and media revenue soared 84% due to recovering advertising linked to sports. Although net income increased 8% to C$302 million, cash flow from operating activities fell 29%. The acquisition of Shaw Communications is valued at C$26 billion and expected to close in 2022.

Rogers Communications reported Q1 2021 results with total revenue rising 2% to CAD 3.488 billion. Adjusted EBITDA increased 4% to CAD 1.391 billion, while net income grew 3% to CAD 361 million. Wireless service revenue fell 6%, but the adjusted EBITDA service margin improved by 310 basis points. Cable revenue rose 5% and Media revenue grew by 7%. The company attracted 44,000 net Wireless postpaid subscribers and paid CAD 252 million in dividends. Rogers announced a CAD 26 billion acquisition of Shaw Communications, expected to close in 2022, enhancing their 5G network capabilities.

Expeto collaborates with Rogers for Business to deliver Wireless Private Networking (WPN) solutions for Canadian enterprises via a new five-year agreement. This partnership enables businesses to securely connect devices over both private and public cellular networks, enhancing digital transformation efforts. The WPN solution aids in connecting various devices, from sensors to autonomous vehicles, with end-to-end security. As per estimates, the move could lead to $2 trillion in global productivity gains by 2030, positioning Rogers at the forefront of the Industrial 4.0 revolution.

Altice USA has revised its offer to acquire Cogeco Inc. for a total value of C$11.1 billion (US$8.4 billion), which includes a premium for shareholders. This offer encompasses C$5.2 billion for the Canadian assets to be sold to Rogers Communications. The proposal provides significant premiums of 50% for Cogeco's shares and 45% for Cogeco Communications shares based on their average prices. The deal is subject to approval by Cogeco's boards and shareholders, and if no agreement is reached by November 18, 2020, the offer will be withdrawn. The transaction aims to enhance Altice's operations across 11 U.S. states.

On September 25, 2020, Rogers announced a $3 billion investment proposal aimed at enhancing connectivity, creating jobs, and driving economic growth in Quebec. This plan includes expanding 5G coverage to 95% of the population and creating up to 300 skilled jobs through a new tech innovation hub. The investment will also maintain Cogeco’s brand and headquarters in Quebec, ensuring 5,000 jobs in a combined entity. Additionally, Rogers plans to upgrade services for existing Cogeco customers and sustain community partnerships.

Rogers Communications has launched its 5G network in Fredericton, New Brunswick, marking it as the first in Atlantic Canada. Powered by Ericsson, this expansion is part of Rogers' national rollout to enhance connectivity across over 60 cities. The company has collaborated with Ignite Fredericton to set up a 5G-enabled Cybersecurity Innovation Lab, which is expected to foster innovation and digital resilience. The rollout represents significant investment in infrastructure, with Rogers having invested over $30 billion in its network over 35 years, aiming to support economic growth and job creation in the region.