Q3 2026 Cogeco Inc and Cogeco Communications Inc Earnings Call Transcript

Jul 16, 2026 / 12:00PM GMT

Release Date Price: $45.28

Transcript

Key Points

Positve

Cogeco Communications Inc (CGEAF) generated $169 million in free cash flow this quarter, contributing to a cumulative total of $450 million after three quarters.
The Canadian segment showed strong performance with positive year-on-year growth in adjusted EBITDA for the third consecutive quarter.
The oxio digital business is performing well with high customer satisfaction and referral rates.
Wireless sales are ahead of plan, with a clear churn benefit from fixed mobile convergence.
The company is focusing on AI-based tools to generate additional revenue and operating efficiencies, aiming to sustain strong free cash flow performance.

Negative

Cogeco Communications Inc (CGEAF) took a noncash impairment charge of CAD1.8 billion (USD1.3 billion) due to ongoing competitive pressures in the US market.
The US cable sector is experiencing significant turbulence, impacting financial performance.
The company expects Q4 revenue and adjusted EBITDA in the US to be lower than the previous year.
There is a material increase in customer losses expected in Q4 in the US, attributed to both internal and external factors.
The company is facing challenges with ARPU and subscriber trends in the US, leading to a cautious outlook on financial performance.

Operator

Good day, and welcome to Cogeco Inc. and Cogeco Communications Inc. Q3 2026 earnings conference call. Today's conference is being recorded. At this time, I would like to turn the conference over to Mr. Patrice Ouimet, Chief Financial Officer of Cogeco Inc. and Cogeco Communications Inc. Please go ahead, Mr. Ouimet.

Patrice Ouimet

Cogeco Communications Inc - Chief Financial Officer

Thank you. So good morning, and welcome to our third quarter results conference call. So as usual, before we begin the call, I'd like to remind listeners that today's discussion will include estimates and other forward-looking information. We ask that you review the cautionary language in the press releases and the MD&A issued yesterday as well as in our annual reports regarding the various risks, assumptions and uncertainties that could cause our actual results to differ. And with that, I'll pass the line to Fred Perron for opening remarks.

Frederic Perron

Cogeco Communications Inc - President, Chief Executive Officer, Director

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