Rogers Communications Notice for 4Q24 Results Teleconference January 30, 2025, at 8:00 A.M. ET

Rhea-AI Summary

Rogers Communications has announced its upcoming fourth quarter financial results release scheduled for January 30, 2025. The company has revised its 2024 service revenue guidance to just over 7%, down from the previously forecasted 8-10% range, citing weakness in media revenue during Q4. All other guidance metrics remain unchanged.

The Q4 results and 2025 outlook will be released before North American markets open on January 30, followed by a management teleconference with investors at 8:00 a.m. ET. CEO Tony Staffieri noted that while media revenue was softer than expected in Q4, the company maintained industry-leading execution throughout the year.

Positive

• Maintained industry-leading execution throughout 2024
• Still expects positive service revenue growth of over 7% for 2024
• All guidance metrics except revenue remain on target

Negative

• Reduced 2024 service revenue guidance from 8-10% to just over 7%
• Experienced weakness in media revenue during Q4 2024

Provides Update on 2024 Service Revenue Guidance

TORONTO, Jan. 03, 2025 (GLOBE NEWSWIRE) -- Rogers Communications Inc. (TSX: RCI.A and RCI.B) (NYSE: RCI) today issued a notice for its fourth quarter financial results and provided an update on its 2024 service revenue guidance.

Fourth quarter financial results and 2025 outlook
The company plans to release its fourth quarter financial results and outlook for 2025 on Thursday, January 30, 2025, before North American financial markets open. The results will be distributed by newswire and posted at investors.rogers.com. Rogers’ management will host its quarterly teleconference with the investment community to discuss the results and outlook at 8:00 a.m. ET.

A live webcast of the teleconference will be available on the Investor Relations section of Rogers’ website at investors.rogers.com. Alternatively, the teleconference can be accessed by dialing 416-639-5883 (1-844-282-4459 toll free for North America). When prompted, callers are required to enter passcode 3793238# for admittance to the call.

An archive of the presentation will be available at this same website following the teleconference. In addition, a telephonic re-broadcast will be available for two weeks following the teleconference by dialing 412-317-0088 (1-855-669-9658 toll free for North America) and providing access code 7473412#.

Update on full year 2024 service revenue
For the full year 2024, Rogers expects annual consolidated service revenue growth just over 7%, compared to its guidance range of 8%-10% issued in February of 2024, driven by weakness in media revenue during the fourth quarter. All other guidance items remain unchanged. 

“Media revenue in the fourth quarter was softer than expected affecting our revenue target for the year,” said Tony Staffieri, President and Chief Executive Officer, Rogers. “Overall, we continued with industry-leading execution throughout the year and look forward to sharing the details during our fourth quarter call.”

About Rogers:
Rogers is Canada’s leading communications and entertainment company, and its shares are publicly traded on the Toronto Stock Exchange (TSX: RCI.A and RCI.B) and on the New York Stock Exchange (NYSE: RCI). For more information, please visit rogers.com or investors.rogers.com.

For further Information:
Investor Relations
1-844-801-4792
investor.relations@rci.rogers.com

About Forward-Looking Information
This release contains “forward-looking information” and “forward-looking statements” within the meaning of applicable securities laws (collectively, “forward-looking information”). Actual events and results may differ materially from what is expressed or implied by forward‐looking information if the underlying expectations and assumptions prove incorrect or Rogers’ objectives, strategies or intentions change or as a result of risks, uncertainties and other factors, many of which are beyond Rogers’ control. See “About Forward-Looking Information” in Rogers’ 2023 Annual MD&A and Third Quarter 2024 MD&A. 

FAQ

Why did Rogers Communications (RCI) lower its 2024 service revenue guidance?

Rogers Communications lowered its 2024 service revenue guidance due to weakness in media revenue during the fourth quarter, revising expectations to just over 7% growth from the previous 8-10% range.

What is Rogers Communications' (RCI) new revenue growth forecast for 2024?

Rogers Communications now expects annual consolidated service revenue growth to be just over 7% for 2024, down from its previous guidance of 8-10%.

When will Rogers Communications (RCI) release its Q4 2024 earnings?

Rogers Communications will release its Q4 2024 earnings on Thursday, January 30, 2025, before North American financial markets open.

How has the Q4 2024 media revenue performance affected RCI's overall guidance?

The weaker Q4 2024 media revenue affected only the service revenue guidance, while all other guidance metrics remain unchanged.