Overview

* Rogers Q3 revenue grows 4% yr/yr, beating analyst expectations

* Adjusted EPS for Q3 beats consensus, reflecting strong operational performance

* Media revenue up 26% due to Toronto Blue Jays regular season and consolidation of MLSE results

Outlook

* Rogers reaffirms 2025 service revenue growth of 3% to 5%

* Rogers expects 2025 adjusted EBITDA growth of 0% to 3%

* Rogers updates 2025 capex to approximately C$3.7 bln

* Rogers sees 2025 free cash flow of C$3.2 bln to C$3.3 bln

Result Drivers

* WIRELESS MARGINS - Rogers achieved a 67% Wireless margin, driven by efficiency and financial discipline

* MEDIA REVENUE GROWTH - Media revenue increased 26%, boosted by Toronto Blue Jays' strong season and MLSE consolidation

* CABLE MARGINS - Cable segment maintained a strong margin of 58% through efficiency and financial discipline

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 Beat C$5.34 C$5.32

Revenue bln bln (11

Analysts

)

Q3 Beat C$1.37 C$1.26

Adjusted (14

EPS Analysts

)

Q3 EPS C$10.62

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 12 "strong buy" or "buy", 3 "hold" and 2 "sell" or "strong sell"

* Wall Street's median 12-month price target for Rogers Communications Inc ( RCIAF ) is C$56.00, about 7.3% above its October 21 closing price of C$51.91

* The stock recently traded at 11 times the next 12-month earnings vs. a P/E of 8 three months ago

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)