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Rogers Communications (RCI) investor relations material
Rogers Communications Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Achieved strong financial and operating results in 2025, meeting or exceeding all guidance targets for growth, profitability, and capital efficiency.
Q4 2025 service revenue rose 16% year-over-year to $5.3 billion, with adjusted EBITDA up 6% to $2.7 billion, driven by strong Media performance and stable Wireless and Cable operations.
Wireless and Cable adjusted EBITDA margins remained industry-leading at 67% and 59% in Q4.
Closed acquisition of a controlling interest in MLSE, now holding 75%, and completed a CAD 7 billion equity investment.
Successfully deleveraged balance sheet to pre-Shaw levels nine months ahead of schedule, with debt leverage ratio improved to 3.9x at year-end.
Financial highlights
Q4 consolidated service revenue up 16% to CAD 5.3 billion; adjusted EBITDA up 6% to CAD 2.7 billion.
Full-year revenue reached CAD 21.7 billion (up 5%); EBITDA at CAD 9.8 billion (up 2%).
Q4 net income attributable to shareholders was $743 million, up 33% year-over-year; diluted EPS rose 34% to $1.37.
Q4 free cash flow was over CAD 1 billion, up 16%; full-year free cash flow exceeded CAD 3.3 billion, up 10%.
Q4 capital expenditures decreased 7% to $934 million; capital intensity fell to 15.1%, the lowest since Q2 2017.
Outlook and guidance
2026 guidance: service revenue growth of 3%-5%, adjusted EBITDA growth of 1%-3%.
CapEx expected to decline to CAD 3.3-3.5 billion in 2026 from CAD 3.7 billion in 2025.
Free cash flow projected to rise to CAD 3.3-3.5 billion in 2026.
Wireless market growth expected at 2%-2.5% in 2026, with continued focus on value proposition and ARPU stabilization.
2026 guidance assumes stable competitive environment, continued wireless and Internet growth, and no major sports work stoppages.
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Adjusted EPS was $7.57, with strong segment EBIT and stable 2026 guidance. - ATS
Q3 revenue rose 17% to $760.7M, with strong backlog and Q4 revenue guided at $710–$750M. - SWK
Gross margin and net income rose, with CAM divestiture set to reduce debt and boost 2026 outlook. - PMI
FDA-approved artificial heart maker registers 17M shares for resale amid ongoing losses and risks. - ARCC
FY 2025 net income was $1,299M, with a $0.48/share Q1 2026 dividend declared. - SDST
Development-stage lithium refiner registers shares for resale amid high risk and capital needs. - DAC
Q2 2025 saw revenue growth, high charter coverage, and strong liquidity despite rising costs. - OCSL
Net investment income was $36.7M ($0.42/share) as NAV fell to $16.30 and a $0.40 dividend was declared. - NUWE
Registering 4.28M shares for resale, proceeds from warrant exercises support working capital. - WBD
Board selects Netflix merger for streaming and studios, with Discovery Global to be spun off.
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