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Globe and Mail
a day ago
- Globe and Mail
Rogers Communications' Earnings Call: Growth Amid Challenges
Rogers Communication (($TSE:RCI.B)) has held its Q2 earnings call. Read on for the main highlights of the call. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Rogers Communications' recent earnings call showcased a mix of achievements and challenges, reflecting a generally positive sentiment. The company reported significant revenue growth and strategic investments, while also addressing competitive pressures and regulatory risks that have impacted certain areas of their business. Positive Revenue and EBITDA Growth Rogers Communications reported a 2% growth in revenue and adjusted EBITDA across its Wireless, Cable, and Media segments for Q2 2025. This growth highlights the company's ability to maintain financial stability and expand its market presence despite external challenges. Successful Deleveraging The company achieved a debt leverage of 3.6x, returning to pre-Shaw deal levels nine months ahead of schedule. This successful deleveraging demonstrates Rogers' commitment to financial discipline and its strategic focus on strengthening its balance sheet. Major Strategic Moves Rogers completed a $7 billion equity investment, becoming the majority owner of MLSE with a 75% controlling interest. Additionally, the company launched satellite-to-mobile texting in Canada, marking significant strategic advancements in its service offerings. Significant Media Revenue Increase Media revenue saw a 10% increase, driven by expanded media content, the NHL playoffs, and revenue from the Toronto Blue Jays. This growth underscores the strength of Rogers' media segment and its ability to capitalize on popular sporting events and content expansion. Launch of 5G Advanced Network and Wi-Fi 7 Rogers initiated the deployment of 5G advanced network technology and began rolling out Wi-Fi 7 nationally. These technological advancements position the company at the forefront of telecommunications innovation, enhancing customer experience and service quality. Wireless Subscriber Growth Slowdown The company experienced a slowdown in net new wireless subscribers, decreasing to 61,000 from 162,000 the previous year. This decline is attributed to a moderating market size due to reduced immigration, highlighting the challenges in sustaining subscriber growth. Decline in ARPU Rogers reported a 3% decrease in blended mobile phone ARPU from the prior year, influenced by competitive intensity and lower outbound roaming revenue. This decline reflects the ongoing competitive pressures within the telecommunications industry. CRTC Decision Impact Rogers expressed concerns over a CRTC decision that could lead to reduced capital programs and at-risk network investments. This decision may impact competition and network construction jobs, posing potential challenges for the company's future growth. Forward-Looking Guidance Looking ahead, Rogers provided guidance for 2025, forecasting total service revenue growth between 3% and 5%, with adjusted EBITDA growth remaining at 0% to 3%. Capital expenditures are expected to be at the low end of the $3.8 billion to $4 billion range, and free cash flow is projected between $3 billion and $3.2 billion. These forecasts reflect the inclusion of MLSE's financial results and the company's strategic focus on cost efficiencies and financial stability. In summary, Rogers Communications' earnings call highlighted a positive trajectory in revenue and strategic investments, despite facing challenges such as slowed wireless subscriber growth and regulatory risks. The company's forward-looking guidance suggests a cautious yet optimistic outlook, with a focus on maintaining financial health and capitalizing on strategic opportunities.
Cision Canada
a day ago
- Cision Canada
Simons to Open First Urban Toronto Store - Yorkdale Shopping Centre, on August 14
TORONTO, July 24, 2025 /CNW/ - Simons, the oldest private, family-run business in Canada, is pleased to announce its highly anticipated Yorkdale Shopping Centre store will officially open its doors to the public on the morning of August 14, 2025, at 10 a.m. EST. The first of two new urban Toronto locations opening this year, the Yorkdale store will span more than 118,000 square feet across two floors and feature labels exclusive to Simons, international designers, as well as local brands and artists to be revealed at the opening. True to Simons' uniquely Canadian approach and inspired by natural elements, the structure will leverage architecture by Lemay-Michaud Architecture, and interior design by Toronto-based Gensler Design. "At Simons, serving our customers is our greatest privilege," says Bernard Leblanc, President and CEO of Simons. "On August 14, we're proud to open our doors at Yorkdale Shopping Centre and invite Torontonians to discover the distinctive blend of fashion, art, and design that defines Simons. Our history and success have always been rooted in exceptional service — a commitment to our customers, our employees, and our partners — and we can't wait to share it with Toronto firsthand." As Simons' 18 th coast-to-coast location, the opening marks a major milestone in the brand's continued national expansion and reaffirms its investment in the Greater Toronto Area and the future of Canadian retail. About Simons Simons was founded in 1840 by John Simons in Quebec City. Originally a dry goods store, the family company is known today for accessible and inspired fashion. It is committed to cultivating creativity and building meaningful relationships with its staff, partners, and clientele. The company cares about the environment and about the communities in which it does business. Simons is recognized as a fashion authority with an original shopping concept. The company offers an extensive array of avant-garde fashions and exclusive private collections for men and women, complemented by a selection of nationally recognized brands and top designer names. Simons also carries home fashions for the bedroom, bathroom, and kitchen. The current 17 Simons stores are compelling, original environments that inspire customers with their fashion as well as their art and architecture. Locations: ten in Quebec, including the company's head office in Quebec City; three in Alberta; one in British Columbia; one in Nova Scotia; and soon four in Ontario.
Global News
2 days ago
- Global News
Rogers looks for cost savings in sports portfolio after becoming MLSE majority owner
Rogers Communications Inc. hopes to find 'revenue and cost synergies' in its expanded portfolio of sports assets after becoming the majority owner of Maple Leaf Sports & Entertainment. The Toronto-based telecom company believes its stock price undervalues its media and sports holdings and says it is 'pursuing all options … to monetize and surface the very substantial unrecognized market value' of those assets. Earlier this month, Rogers completed its $4.7-billion deal with rival BCE Inc. to buy its 37.5 per cent stake in MLSE. The acquisition, which closed July 1 after receiving the necessary regulatory and league approvals, made Rogers the majority owner of the sports conglomerate that owns the NHL's Maple Leafs, NBA's Raptors, CFL's Argonauts, MLS' Toronto FC and AHL's Marlies. Rogers also owns MLB's Toronto Blue Jays. 'On sports and media, it's clear that there is significant underlying value and we are squarely focused as we put the assets together … to continue to strengthen our balance sheet,' said Rogers president and CEO Tony Staffieri on a conference call Wednesday, as the company reported its latest earnings. Story continues below advertisement 'The second part of our task is to surface the value for shareholders. We continue to work through the various options and the good news is we have very good options in front of us.' 1:46 Rogers signs $11B deal to extend its NHL broadcast rights through 2037-38 Staffieri said it was premature to provide further insight about possible 'synergies' within MLSE, but that Rogers would likely share details of its plans before the end of 2026. Get daily National news Get the day's top news, political, economic, and current affairs headlines, delivered to your inbox once a day. Sign up for daily National newsletter Sign Up By providing your email address, you have read and agree to Global News' Terms and Conditions and Privacy Policy He said Rogers has 'a very good track record' in finding ways to operate more efficiently, pointing to its 2023 merger with Shaw Communications Inc. 'We went into this transaction with a view that we could execute on very strong synergies across our sports and media properties and certain things that need to happen before we can execute on those,' he said. 'But the thinking, the planning is underway and at the right time … we can be more specific.' Story continues below advertisement Some industry watchers have speculated about the potential for Rogers to eventually fold the Blue Jays and related stadium assets into MLSE — an option floated by one analyst on the conference call who questioned if that's where Rogers might stand to eliminate 'redundant costs' within its sports portfolio. 'I expect that as we roll in the Toronto Blue Jays' Rogers Centre with Scotiabank Arena and the other venues within MLSE and the sports teams within MLSE, we will find revenue and cost synergies,' chief financial officer Glenn Brandt replied. Meanwhile, the company updated its financial guidance on Wednesday to reflect the MLSE deal. Rogers now expects service revenue to increase three to five per cent year-over-year in 2025, up from its previous forecast of zero to three per cent growth, as a result of the anticipated contribution from MLSE. 7:56 Masai Ujiri out: MLSE CEO defends decision to oust Toronto Raptors President Rogers reported its second-quarter profit declined compared with a year ago as a result of higher restructuring, acquisition and other costs. The company said it earned $148 million or 29 cents per diluted share attributable to shareholders for the quarter ended June 30. Story continues below advertisement The result was down from a profit of $394 million or 73 cents per share in the same quarter last year. Restructuring, acquisition and other costs totalled $238 million in the quarter, up from $90 million a year ago. Revenue for the three-month period totalled $5.22 billion, up from $5.09 billion a year earlier. Wireless service revenue was up one per cent from a year ago as its subscriber base grew, while wireless equipment revenue increased 13 per cent, primarily as a result of higher device sales to existing customers. Media revenue rose 10 per cent, boosted by strong NHL playoff audiences on Sportsnet and the launch of the Warner Bros. Discovery suite of television channels. Cable revenue was up one per cent. On an adjusted basis, Rogers earned $1.14 per diluted share, down from $1.16 per diluted share in the second quarter of 2024. The results came as the company reported 61,000 total mobile phone net subscriber additions, including 35,000 postpaid — down from 112,000 postpaid additions in the same quarter last year. Rogers' monthly churn for net postpaid mobile subscribers — a measure of those who cancelled their service — was 1.00 per cent, down from 1.07 per cent during its previous second quarter. Scotiabank analyst Maher Yaghi said the results were 'broadly in line with expectations.' Story continues below advertisement 'Wireless subscriber loading was relatively healthy given continued Canadian market normalization as a result of lower population growth,' he said in a note. 'While financial results do clearly show the impact from significant pricing pressures, we believe recent price ups which we saw since early June provide a more positive backdrop for the industry.' The company recorded 26,000 prepaid net additions in the quarter, compared with 50,000 prepaid subscriber additions in the second quarter of 2024. Meanwhile, Rogers' mobile phone average monthly revenue per user was $55.45, down from $57.24 in the second quarter of the prior year. Retail internet net additions totalled 26,000.
