-- Rogers Communications (RCI-B.TO) was up 3% in U.S. pre-market trade Wednesday as first-quarter adjusted earnings and revenue both advanced, while it expects to cut spending but lift its free cash flow over the remainder of fiscal 2026.
The telecoms company said adjusted earnings attributable to shareholders edged up 1% to $550 million, or $1.01 per adjusted diluted share, from $543 million, or $0.99 per adjusted diluted share, in the prior year period. The result met the consensus analyst expectations of $1.01 per share, according to FactSet.
Total revenue increased 10% to $5.48 billion, beating the $5.44 billion expected. Rogers said the media segment booked an 82% revenue jump to $988 million. It expects to acquire the remaining 25% minority interest in MLSE this year, and says it is "committed to unlocking the significant and unrecognized value of its premier sports assets."
Rogers updated its fiscal 2026 outlook now expects 2026 and future annual capital expenditures to range between $2.5 billion to $2.7 billion, down 30% over 2025's capex spend.
Free cash flow is forecast to increase $0.8 billion over 2025, to $4.1 billion to $4.3 billion, the company said.
Rogers will pay a regular quarterly dividend of $0.50 on July 6, to shareholders of record on June 9.
Rogers' shares were last seen up US$1.01, to US$34.00 in New York trading.