Business
Rogers Communications Reports Fourth Quarter 2025 Results; Announces 2026 Financial Guidance
Wireless financials reflect continued subscriber growth with balanced marketplace discipline ...
About this update from Rogers Communications Inc. Class A
[{"type":"text","content":"Rogers Communications Reports Fourth Quarter 2025 Results; Announces 2026 Financial GuidanceRogers delivers strong Q4 financial results with total service revenue up 16% to $5.3 billion and adjusted EBITDA up 6% to $2.7 billion\nWireless financials reflect continued subscriber growth with balanced marketplace discipline Q4 service revenue of $2.1 billion, consistent with 2024; adjusted EBITDA of $1.4 billion, up 1%Q4 margin up 40 basis points to industry-leading 67%Added 39,000 total mobile phone net additions in Q4, including 37,000 postpaid subscribersQ4 postpaid churn of 1.43%, down 10 basis pointsFull-year mobile phone subscriber net additions of 245,000, including 145,000 postpaid subscribersDelivered industry-best 345,000 combined net new mobile phone and retail Internet subscribers in 2025 Cable delivers solid Internet subscriber net additions, industry-leading margins Q4 revenue of $2.0 billion, consistent with 2024; adjusted EBITDA of $1.2 billion, up 1%Subscriber growth, financial discipline drive industry-leading Cable margin of 59% in Q4Retail Internet net additions of 22,000 in Q4; 100,000 net new retail Internet subscribers added for full-year 2025 Strong Media results reflect the success and scale opportunity with world-class sports assets Q4 revenue of $1.2 billion and adjusted EBITDA of $221 million vs. $547 million and $55 million, respectively, in 2024, driven by extended Blue Jays World Series run, addition of MLSE results from July 1Rogers pro forma 2025 Media revenue and adjusted EBITDA including MLSE for the full year and Blue Jays postseason revenue would have been approximately $4.1 billion and $0.4 billion, respectively, ahead of initial expectationsRogers remains focused on pursuing future sports monetization; anticipates purchase of remaining 25% minority interest in MLSE in 2026 Additional balance sheet deleveraging driven by healthy free cash flow, capex efficiency Debt leverage ratio down to 3.9x at year-end, a 0.6x improvement versus last yearFree cash flow of $1.0 billion in Q4, up 16% from last yearCapital expenditures of $0.9 billion in Q4 reflecting 15% capital intensity, lowest level since Q2 2017 Rogers meets or exceeds all 2025 guidance metrics; 2026 outlook anticipates strong service revenue growth, additional capital efficiency, higher free cash flow Total service revenue growth of 3% to ...