Rogers Communications Inc. (RCI) Earnings
Rogers Communications Inc. is expected to report next earnings on July 22, 2026 (in NaN days), with a consensus EPS estimate of $0.79. RCI has beaten EPS estimates in 9 of its last 12 reported quarters (average surprise +5.4% over the last four).
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Apr 22, 2026 | $0.73 | $0.74 | +1.4% | $3.9B | +0.8% |
| Jan 29, 2026 | $0.98 | $1.08 | +10.2% | $4.5B | -18.5% |
| Oct 23, 2025 | $0.92 | $0.99 | +7.6% | $3.8B | -35.5% |
| Jul 23, 2025 | $0.80 | $0.82 | +2.5% | $3.8B | -27.9% |
| Apr 23, 2025 | $0.71 | $0.69 | -2.8% | $3.5B | -31.7% |
| Jan 30, 2025 | $0.97 | $1.04 | +7.2% | $3.8B | -24.2% |
| Oct 24, 2024 | $1.07 | $1.04 | -2.8% | $3.8B | -2.5% |
| Jul 24, 2024 | $0.83 | $0.85 | +2.4% | $3.7B | -1.0% |
| Feb 1, 2024 | $0.76 | $0.87 | +14.5% | $4.0B | +8.3% |
| Nov 9, 2023 | $0.79 | $0.95 | +20.3% | $3.8B | -0.3% |
| Jul 26, 2023 | $0.84 | $0.76 | -9.5% | $3.8B | +1.0% |
| Feb 2, 2023 | $0.74 | $0.80 | +8.1% | $3.1B | +1.2% |
Source: company filings + earnings calendar. For informational purposes only — not investment advice.
Earnings call summary
Q3 FY2025 · October 23, 2025
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
- Q3 was a strong quarter with industry-best combined mobile phone and Internet customer additions. - Continued growth in Cable anchored by reliable Internet, with 5G Home Internet leading the way. - Wireless and Cable had industry-leading margins, with Wireless churn at its lowest in over two years. - Media saw 26% revenue growth driven by Blue Jays and MLSE consolidation. - Maintained strong balance sheet with debt leverage ratio of 3.9x, CapEx expected at $3.7 billion, free cash flow between $3.2 billion and $3.3 billion.
Guidance
- Expect CapEx for 2025 to be $3.7 billion, below previous target of $3.8 billion. - Free cash flow expected to be between $3.2 billion and $3.3 billion, higher than previous target. - Projected Media revenue and adjusted EBITDA for 2025: $4 billion and $250 million respectively. - Anticipate acquiring remaining minority stake in MLSE in 2026, with potential transaction for Sports & Media assets within 18 months.
Segment performance
**Wireless**: In Q3, added 111,000 total mobile phone net additions. Year-to-date, 206,000 mobile subscribers added, mostly on Rogers postpaid brand. Wireless service revenue was flat, adjusted EBITDA up 1% year-over-year. Industry-leading Wireless margin was 67%, up 60 basis points. Postpaid churn in Q3 was 0.99%, down 13 basis points year-on-year and lowest in over two years. **Cable**: Retail Internet additions were 29,000 in Q3, with ~80,000 new Internet subscribers year-to-date. Cable service revenue grew 1% year-over-year, adjusted EBITDA up 2% year-over-year. Cable margin reached an industry-leading 58%. **Media**: Revenue growth was up 26% driven by a strong Blue Jays regular season and consolidation of MLSE results. Media EBITDA was $75 million compared to $136 million last year.
Risks & headwinds
- Competitive Wireless market pressure on service revenue and ARPU. - Regulatory environment impacting CapEx. - Supply chain issues affecting device availability for new product launches.
Analyst Q&A
Q: Talk a bit more on the Wireless competitive environment as we head into the holiday season and if current pricing environment can be sustained?
A: Tony Staffieri mentioned they streamlined price offerings, focused on add-a-line construct and tiered hardware promotional discounts, which are resonating well with customers and expect to be good heading into Black Friday.
Q: Extending network revenue question, can you talk about how network revenue trends in Q4 into 2026?
A: Glenn Brandt said they remain committed to Wireless service revenue growth, expect positive growth each quarter and year, with Q4 expected to be strong.
Q: Can you talk about the competitive environment in terms of converged offers and broadband-mobile take rates?
A: Anthony Staffieri said converged offers are a competitive advantage, with good pickup in go-to-market strategy, and benefits include simplified servicing and bundled discounts.
Q: About the financing plan for the Kilmer deal, can you comment?
A: Glenn Brandt said they are focused on acquiring the remaining 25% minority stake, combining operations, and recapitalizing, working with credit agencies and expecting to do so within 18 months.
Q: On Sports assets, priority to consider control? And on Wireless operating costs related to satellite to mobile?
A: Glenn Brandt said they anticipate maintaining control of Sports assets. Anthony Staffieri said Wireless operating costs increase includes satellite to mobile, in beta trial with extended trial to add data capabilities before commercial launch.