Rogers Communications Inc. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2017; Provides Earnings Guidance for the Year 2018
January 25, 2018 at 07:33 am
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Rogers Communications Inc. announced unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2017. For the quarter, the company reported revenue of CAD 3,632 million against CAD 3,510 million a year ago. Income before income tax expense was CAD 577 million against loss before income tax expense of CAD 14 million a year ago. Net income was CAD 419 million against net loss of CAD 9 million a year ago. Basic and diluted earnings per share were CAD 0.81 against basic and diluted loss per share of CAD 0.04 a year ago. Cash provided by operating activities was CAD 1,142 million against CAD 1,053 million a year ago. Additions to property, plant and equipment, net were CAD 841 million against CAD 604 million a year ago. Adjusted operating profit was CAD 1,340 million against CAD 1,259 million a year ago. Adjusted net income was CAD 455 million against CAD 382 million a year ago. Adjusted basic and diluted earnings per share were CAD 0.88 against CAD 0.74 a year ago. Free cash flow was CAD 244 million against CAD 392 million a year ago.
For the year, the company reported revenue of CAD 14,143 million against CAD 13,702 million a year ago. Income before income tax expense was CAD 2,346 million against CAD 1,159 million a year ago. Net income was CAD 1,711 million against CAD 835 million a year ago. Diluted earnings per share were CAD 3.31 against CAD 1.62 per basic and diluted share a year ago. Cash provided by operating activities was CAD 3,938 million against CAD 3,957 million a year ago. Additions to property, plant and equipment, net were CAD 2,436 million against CAD 2,352 million a year ago. Adjusted operating profit was CAD 5,379 million against CAD 5,092 million a year ago. Adjusted net income was CAD 1,821 million against CAD 1,481 million a year ago. Adjusted diluted earnings per share were CAD 3.54 against CAD 2.88 a year ago. Free cash flow was CAD 1,746 million against CAD 1,705 million a year ago.
The company provided earnings guidance for the year 2018. For the year, the company expects revenue increase of 3% to 5%, adjusted EBITDA increase of 5% to 7%, additions to property, plant and equipment, net of CAD 2,650 million to CAD 2,850 million, free cash flow increase of 3% to 5%.
Rogers Communications Inc. is a wireless, cable, and media company. The Company provides connectivity and entertainment to Canadian consumers and businesses across the country. The Company also has a portfolio of media properties, which includes sports media and entertainment, television and radio broadcasting properties, multi-platform televised and online shopping and digital media. Its wireless segment provides wireless telecommunications operations for Canadian consumers and businesses. Its cable segment is engaged in cable telecommunications operations, including Internet, television, and other video, satellite, telephony, and smart home monitoring services for Canadian consumers and businesses, and network connectivity through its fiber network and data center assets to support a range of voice, data, networking, hosting, and cloud-based services. Its media segment offers a diversified portfolio of media properties, including specialty channels, digital media, and others.
Rogers Communications Inc. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2017; Provides Earnings Guidance for the Year 2018