RCI - Rogers Communications Inc. (RCI) Q4 2023 Earnings Call Transcript

2024-02-01 11:02:09 ET

Rogers Communications Inc. (RCI)

Q4 2023 Earnings Conference Call

February 01, 2024 08:00 A.M. ET

Company Participants

Paul Carpino - VP, Investor Relations

Tony Staffieri - President and CEO

Glenn Brandt - CFO

Conference Call Participants

Drew McReynolds - RBC Capital Markets

Tim Casey - BMO Capital Markets

Sebastiano Petti - J.P. Morgan

Vince Valentini - TD Securities

Maher Yaghi - Scotiabank

Stephanie Price - CIBC Capital Markets

Jerome Dubreuil - Desjardins Securities

Aravinda Galappatthige - Canaccord Genuity Corp.

Batya Levi - UBS

Simon Flannery - Morgan Stanley

David McFadgen - Cormark Securities

Presentation

Operator

Thank you for standing by. This is the conference operator. Welcome to the Rogers Communications Inc. Fourth Quarter 2023 Results Conference Call. As a remainder, all participants are in a listen-only mode and the conference is being recorded. Following the presentation we will conduct a question-and-answer session. [Operator Instructions]. I would now like to turn the conference over to Paul Carpino, Vice President of Investor Relations with Rogers Communications. Please go ahead, Mr. Carpino.

Paul Carpino

Thank you, Ariel, and good morning everyone, and thank you for joining us. Today, I am here with our President and Chief Executive Officer, Tony Staffieri; and our Chief Financial Officer, Glenn Brandt. Today's discussion will include estimates and other forward-looking information from which our actual results could differ. Please review the cautionary language in today's earnings report and in our 2022 Annual Report regarding the various factors, assumptions, and risks that could cause our actual results to differ. With that, let me turn it over to Tony to begin.

Tony Staffieri

Thank you Paul, and good morning everyone. I'm very pleased to report that Rogers delivered another record quarter. This reflects the eighth consecutive quarter of growth and momentum for our company. As I reflect on the year, we delivered industry leading results, completed an industry leading merger, and drove industry leading innovation, and we returned to number one in virtually all key growth metrics.

Let me start with our full year results. In 2023, we delivered on our commitments. We met our increased financial guidance and grew service revenue by 27% and adjusted EBITDA by 34%. In a very competitive and growing market more Canadians chose Rogers over any other competitor for the second year in a row. In 2023, we attracted 674,000 postpaid mobile phone net editions up an impressive 24%. This was driven by disciplined execution, leading distribution, and attracting new Canadians. Simply put, we've out executed our competition for two straight years. ...

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