RCI - Rogers Non-GAAP EPS of C$1.02 revenue of C$5.05B; raises FY23 guidance

2023-07-26 07:16:48 ET

• Rogers press release ( NYSE: RCI ): Q2 Non-GAAP EPS of C$1.02.
• Revenue of C$5.05B (+30.5% Y/Y).
• Rogers' postpaid mobile phone net additions of 170,000, up 39%; year to date postpaid mobile phone net additions of 265,000, up 41% from first six months of 2022
• Wireless service revenue up 7%; adjusted EBITDA up 9%.
• Total service revenue up 32% and adjusted EBITDA up 38% .
• Company reaffirms guidance of realizing at least C$200 million of synergies in 2023, and annualized cost synergies of at least C$600 million by the end of Q1 2024.
• Company's strong execution reflected in increasing 2023 outlook: 2023 free cash flow outlook increased to between C$2.2 billion and C$2.5 billion compared to prior C$2.0 billion to C$2.2 billion outlook.
• Adjusted EBITDA growth outlook increased to 33% to 36% compared to prior 31% to 35% outlook.
• Total service revenue growth outlook increased to 26% to 30% unchanged from previous outlook .

For further details see: