Q2 2025 Rogers Communications Inc Earnings Call Transcript
Key Points
- Rogers Communications Inc (RCI) delivered positive revenue and EBITDA growth across its Wireless, Cable, and Media businesses in Q2 2025.
- The company successfully returned to revenue growth in its Cable segment, with service revenue and adjusted EBITDA up 1% and 3%, respectively.
- Rogers Communications Inc (RCI) made significant progress on deleveraging, achieving a leverage ratio of 3.6 times, nine months ahead of schedule.
- The acquisition of a 75% controlling interest in Maple Leaf Sports & Entertainment (MLSE) positions Rogers Communications Inc (RCI) as a major player in the sports and media industry, with potential for long-term growth.
- Rogers Communications Inc (RCI) launched satellite-to-mobile texting, becoming the first Canadian provider to offer this service, enhancing connectivity across vast areas of Canada.
- Wireless service revenue growth was modest at 1%, with a decline in net new wireless subscribers compared to the previous year, reflecting a competitive market and reduced immigration.
- Blended mobile phone ARPU decreased by 3% year-over-year, impacted by competitive intensity and lower outbound roaming revenue.
- The CRTC decision allowing large providers to operate as resellers on competitors' networks poses a risk to Rogers Communications Inc (RCI)'s capital investment plans.
- Media segment operating costs increased by 9% due to higher programming costs and expenses related to the Toronto Blue Jays.
- The company's free cash flow growth is partially offset by $0.4 billion in annual distributions to the Blackstone-led fund, impacting net interest savings.
Thank you for standing by. This is the conference operator. Welcome to the Rogers Communications, Inc. second quarter 2025 results conference call. (Operator Instructions)
I would now like to turn the conference over to Paul Carpino, Vice President of Investor Relations with Rogers Communications. Please go ahead, Mr. Carpino.
Great. Thank you, Gaylene, and good morning, everyone, and thank you for joining us. Today, I'm here with our President and Chief Executive Officer, Tony Staffieri; and our Chief Financial Officer, Glenn Brandt.
Today's discussion will include estimates and other forward-looking information from which our actual results could differ. Please review the cautionary language in today's earnings report and in our 2024 annual report regarding the various factors, assumptions and risks that could cause our actual results to differ.
With that, let me turn it over to Tony to begin.
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