Rogers Communications Reports Third Quarter 2026 Results
Key Highlights
- ➤Free cash flow $1.4 billion, up 65%, exceeds $3 billion year to date
- ➤MLSE acquisition completed for $4.35 billion, giving Rogers 100% ownership
- ➤Total service revenue and adjusted EBITDA each increased 1%
- ➤Media revenue $821 million, up 9%; adjusted EBITDA $84 million, up 12%
- ➤Debt leverage ratio fell to 3.7x; Rogers targets further deleveraging by first half 2027
Expert Statements
Tony Staffieri, President and CEO of Rogers Communications
“Our third quarter results demonstrate strong financial discipline, with margin expansion in Cable and Wireless, record free cash flow, and further deleveraging despite lower market activity.”
Tony Staffieri, President and CEO of Rogers Communications
“The close of the MLSE transaction marks a significant milestone in our plan to unlock shareholder value from our sports and media assets, which continue to show global breadth and scale.”
Rogers delivers topline and adjusted EBITDA growth while generating record free cash flow and its lowest capital intensity in over two decades * Total service revenue and adjusted EBITDA growth of 1% * Free cash flow of $1.4 billion, achieves over $3 billion of free cash flow year to date * Capital expenditures of $524 million and capital intensity of 9.6%, down 840 basis points and amongst the lowest in the industry Executes on sports and media strategy; becomes 100% owner of MLSE on October 1 and turns to process to sell minority interest in our consolidated sports, media, and entertainment assets (Rogers Sports)
Focus on efficiency and financial discipline continues to drive industry-leading Wireless and Cable margins; underlying telecom operations stable * Wireless service revenue of $2.0 billion, down 1% * Wireless adjusted EBITDA up 1%; adjusted EBITDA margin up 130 basis points to 68% * Total mobile phone net additions of 17,000 * Mobile phone ARPU of $55.22; postpaid mobile phone churn of 1.03% * Cable service revenue of $2.0 billion, stable year over year * Cable adjusted EBITDA up 1%; adjusted EBITDA margin up 40 basis points to 59% * Retail Internet net additions of 10,000 Achieves strong performance in Media helped by over 97% near-sell-out attendance at the Toronto Blue Jays; Rogers leading sports and media assets continue to show scale * Revenue of $821 million, up 9% * Adjusted EBITDA of $84 million, up 12% * Commenced 13th consecutive year of national NHL media rights ownership; expanded sublicensing agreements for both Wednesday night hockey and French-language games for duration of contract * Announced twelve-concert Backstreet Boys residency at Rogers Centre in Q1 2027, reflecting global scale opportunity of world-class assets Balance sheet improves with a debt leverage ratio of 3.7x, down 0.1x sequentially * Targets further deleveraging by the first half of 2027 through the unlocking of considerable value in Rogers Sports holdings Company reaffirms 2026 outlook for total service revenue, adjusted EBITDA, capital expenditures, and free cash flow
Get started
Create a free account to read the full story.