Rogers Q3 free cash flow jumps 65% to $1.37B

Rogers Communications Inc. (TSX:RCI.B) reported third-quarter free cash flow of $1.37 billion on Friday, up 65 per cent from a year earlier, as capital spending fell 46 per cent to $524 million. Revenue rose two per cent to $5.44 billion, but adjusted earnings per share slipped to $1.30 from $1.37, according to the company’s filings.

The Toronto-based telecommunications and media company said net income attributable to shareholders was $482 million, or 89 cents a share, for the quarter ended Sept. 30. That compares with $5.71 billion, or $10.58 a share, a year earlier, when Rogers booked a roughly $5 billion non-cash gain on acquiring Bell’s stake in Maple Leaf Sports & Entertainment Ltd. (MLSE).

Source: Rogers third-quarter 2026 management’s discussion and analysis, filed with the U.S. Securities and Exchange Commission. Results are under International Financial Reporting Standards unless marked non-GAAP.

Adjusted EBITDA, a measure of operating profit, rose one per cent to $2.54 billion. Wireless service revenue fell one per cent to $2.03 billion, which Rogers attributed mainly to lower average revenue per mobile phone user amid competition, and to a Canadian Radio-television and Telecommunications Commission decision prohibiting certain fees. Wireless equipment revenue rose nine per cent. Cable service revenue was flat, while Media revenue rose nine per cent to $821 million on higher sports revenue and subscriber revenue.

Rogers added 90,000 net postpaid mobile phone subscribers over the past year, bringing its postpaid base to 11.05 million, and monthly postpaid churn was 1.03 per cent, up from 0.99 per cent. Its debt leverage ratio was 3.7 at the end of September, down from 4.0 at the end of 2025.

The company completed its purchase of the remaining 25 per cent of MLSE from Kilmer Sports Inc. on Oct. 1, and said it is pursuing the sale of a minority interest in its sports, media and entertainment assets to outside investors by the first half of 2027, with proceeds to go toward repaying debt. Its board declared a quarterly dividend of 50 cents a share on Oct. 22.

Rogers Class B shares traded at $45.69, down 1.59 per cent, at 10:20 a.m. ET on Friday, according to TMX Money. Our TSX market report has the day’s trading, and our earlier story covers the new 1.6 per cent fee Rogers is adding to credit card bill payments.

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