Rogers Communications (RCI) Reports In-Line Q2 EPS, Revenues Beat

Rogers Communications (NYSE: RCI) reported Q2 EPS of $0.60, in-line with the analyst estimate of $0.60. Revenue for the quarter came in at $3.16 billion versus the consensus estimate of $2.76 billion.

"As we expected, our second quarter results reflect the economic pressures we saw in our business as Canadians adapted to the challenges of COVID-19. As Canada’s business environment slowly improves, we will rely on our strong balance sheet, world-class networks, and leading market share position to support long-term growth and drive shareholder value," said Joe Natale, President and CEO. "We remain steadfast in our focus on maintaining our solid financial position, advancing our strategic priorities and investments, and delivering value to shareholders. Our priorities in the second half of the year are to drive the competitive benefits and efficiencies from the customer-first and digital initiatives we have accelerated during the pandemic, and to resume growth across our businesses as more of the Canadian economy opens up."

Financial guidance
Due to the continued uncertainty surrounding the duration and potential outcomes of the COVID-19 pandemic, we are unable at this time to predict the overall impact on our operations and financial results, but the impact to date has been material. It is not possible at this time to reliably estimate our financial results for the remainder of the year. We will therefore not provide updated financial guidance until such a time as we can make a reasonable estimate of our total service revenue, adjusted EBITDA, capital expenditures, and free cash flow for the year. Although COVID-19 has adversely impacted total service revenue and adjusted EBITDA in the short-term, strong free cash flow remains a priority for us this year.

For earnings history and earnings-related data on Rogers Communications (RCI) click here.

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