Rogers Reports Strong Q3 Results with Record Free Cash Flow
News related to:Rogers Communications Inc · 2 min read
Rogers Communications Inc. reported strong financial results for the third quarter ended September 30, 2026, highlighting growth in key segments and operational efficiency.
Rogers delivered a total service revenue of $4.0 billion, a 1% increase from the same period last year. The company's wireless segment saw a 1% decline in service revenue to $2.0 billion, primarily due to a 1% decrease in mobile phone service revenue. The company added 17,000 mobile phone net additions, with a mobile phone ARPU of $55.22 and postpaid mobile phone churn at 1.03%.
Cable service revenue remained stable at $2.0 billion, while adjusted EBITDA increased by 1%. The adjusted EBITDA margin improved to 59%, up 40 basis points from the previous quarter. Retail Internet net additions reached 10,000, contributing to the company's strong performance in this segment.
In the media segment, Rogers reported a 9% increase in revenue to $821 million. Adjusted EBITDA for the media segment grew by 12% to $84 million. The company's strong performance in media was bolstered by near-sell-out attendance at the Toronto Blue Jays' games, with over 97% of capacity filled. Rogers also secured the 13th consecutive year of national NHL media rights ownership and expanded its NHL media rights agreements, including Wednesday night hockey and French-language games.
Rogers' capital expenditures for the quarter amounted to $524 million, resulting in a capital intensity of 9.6%, down 840 basis points from the previous year, marking the company's lowest capital intensity in over two decades. The company's free cash flow stood at $1.4 billion, contributing to a total free cash flow of over $3 billion year-to-date.
The company's debt leverage ratio improved to 3.7x, down 0.1x sequentially. Rogers reaffirmed its 2026 outlook for total service revenue, adjusted EBITDA, capital expenditures, and free cash flow. The company also completed the acquisition of the remaining 25% minority interest in MLSE for $4.35 billion, becoming a 100% owner of the Toronto Maple Leafs, Raptors, FC, Argonauts, and associated real estate holdings. The company plans to sell a minority interest in its sports, media, and entertainment assets by the first half of 2027 to unlock additional value.
Rogers continued to invest in its network infrastructure, expanding its 5G/5G+ network nationally and completing 350 new wireless sites. The company also leveraged its satellite capabilities to offer free Rogers Satellite to all wireless customers in British Columbia during a state of emergency caused by wildfires.
The company reaffirmed its commitment to being a strong national company, investing in Canada through agreements with Kilmer Sports Inc. and Vancouver Bike Share. Rogers also donated $1 million to Alberta children's charities through the Rogers Charity Classic.
Rogers Communications Inc. remains focused on delivering easy-to-use, reliable products and services, growing its core businesses, and delivering increased shareholder value.