Shaw Communications (SJR) Tops Q3 EPS, Beats on Revenues

Shaw Communications (NYSE: SJR) reported Q3 EPS of $0.27, $0.02 better than the analyst estimate of $0.25. Revenue for the quarter came in at $1.31 billion versus the consensus estimate of $997.42 million.

Outlook

Heading into the final quarter of fiscal 2017, the Company is refining its full year fiscal 2017 financial guidance for operating income before restructuring costs and amortization to range between $2.135 and $2.160 billion, capital investment of approximately $1.35 billion and free cash flow of approximately $400 million.

These refinements include the results of the Business Infrastructure Services division, comprised primarily of ViaWest, Inc., through the end of fiscal 2017 and reflect a modest acceleration of capital spend associated primarily with strategic network enhancements and the evolving wireless platform.

Providing both the sale of ViaWest and the acquisition of spectrum are completed in the near term, the Company expects its ratio of debt to operating income before restructuring costs and amortization to be below the low end of its target 2.0 to 2.5 times and the $1.5 billion credit facility to be fully undrawn.

• Cable TV subscribers grow for the first time since 2010, with Consumer and Wireless divisions gaining 58,000 subscribers
• Addition of low-band spectrum is a significant milestone towards improving network coverage and quality across Alberta, British Columbia and Ontario
• Enhanced financial flexibility going forward with pro forma net debt to operating income before restructuring costs and amortization below 2.0x
  

For earnings history and earnings-related data on Shaw Communications (SJR) click here.

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