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Rogers Communications Reports Fourth Quarter and Full-Year 2021 Results; Announces 2022 Financial Guidance
  • Strong execution delivers solid operational improvements led by Wireless recovery

  • Wireless postpaid net subscriber additions includes phone additions of 141,000; Wireless service revenue growth of 6% and adjusted EBITDA up 5%

    • Blended ARPU1 of $51.47 up 3%; improved Q4 postpaid churn by 4 basis points to 1.15%

  • Stable financial results in Cable; Internet net subscriber additions include 21,000 net new retail broadband subscribers

  • Media revenue growth up 26% reflects the return of live sports broadcasting advertising

  • Full-year 2022 guidance2 pre-Shaw transaction reflects improving economy, greater focus on execution, and accelerating investments in 5G and network expansion

    • Total service revenue growth range of 4% to 6%

    • Adjusted EBITDA growth range of 6% to 8%

    • Capital expenditures of $2.8 billion to $3.0 billion

    • Free cash flow of $1.8 billion to $2.0 billion

  • Shaw transaction remains on track to close in the first half of 2022

TORONTO, Jan. 27, 2022 (GLOBE NEWSWIRE) -- Rogers Communications Inc. today announced its unaudited financial and operating results for the fourth quarter ended December 31, 2021.

Consolidated Financial Highlights

Three months ended December 31

Twelve months ended December 31

(In millions of Canadian dollars, except per share amounts, unaudited)

2021

2020

% Chg

2021

2020

% Chg

Total revenue

3,919

3,680

6

14,655

13,916

5

Total service revenue

3,232

3,023

7

12,533

11,955

5

Adjusted EBITDA 1

1,522

1,590

(4

)

5,887

5,857

1

Net income

405

449

(10

)

1,558

1,592

(2

)

Adjusted net income 1

486

500

(3

)

1,803

1,725

5

Diluted earnings per share

$0.80

$0.89

(10

)

$3.07

$3.13

(2

)

Adjusted diluted earnings per share 1

$0.96

$0.99

(3

)

$3.56

$3.40

5

Cash provided by operating activities

1,147

947

21

4,161

4,321

(4

)

Free cash flow 1

468

568

(18

)

1,671

2,366

(29

)

"We delivered strong results in our fourth quarter, led by accelerating revenue growth and solid net subscriber additions in our Wireless business," said Tony Staffieri, President and CEO. "This is a critical year for Rogers and the changes we are making to drive a renewed focus on execution, along with strategic investments in our networks and customer experience, should help drive long-term growth and increase shareholder value. We will accelerate the momentum across our business as we come together with Shaw to expand our next-generation networks nationally, offer customers more choice, and enable Canada to thrive in the global digital economy."

____________
1 Blended ARPU is a supplementary financial measure. Adjusted EBITDA is a total of segments measure. Free cash flow is a capital management measure. Adjusted diluted earnings per share is a non-GAAP ratio. Adjusted net income is a non-GAAP financial measure and is a component of adjusted diluted earnings per share. See "Non-GAAP and Other Financial Measures" for more information about each of these measures. None of these measures is a standardized financial measure under IFRS and they might not be comparable to similar financial measures disclosed by other companies.
2 See "2022 Outlook".