Rogers Communications Reports First Quarter 2026 Results
Press Release
Rogers reports continued year-over-year growth in total service revenue and adjusted EBITDA, delivers strong free cash flow growth and upgraded guidance for capital expenditures and free cash flow
⦁ Total service revenue up 10% to $4.9 billion; adjusted EBITDA up 5% to $2.4 billion
⦁ Free cash flow growth of $0.2 billion, up 32%
⦁ Capital intensity improves 500 basis points to 15%
Adjusted EBITDA growth continues in both Wireless and Cable with 40,000 mobile phone and Internet subscriber additions
⦁ Wireless service revenue stable; adjusted EBITDA up 1%
⦁ Wireless adjusted EBITDA margin up 40 basis points to 65%
⦁ Added 33,000 total mobile phone net additions, including 28,000 postpaid
⦁ Mobile phone ARPU1 of $55.60; postpaid mobile phone churn of 1.22%
⦁ Cable service revenue and adjusted EBITDA up 1%; each up 2% organically excluding data centre sales impact
⦁ Cable adjusted EBITDA margin up 30 basis points to 58%
⦁ Retail Internet net additions of 7,000
Media delivers strong revenue growth and substantial improvement in adjusted EBITDA; Company remains focused on monetization of world-class sports and media assets
⦁ Revenue of $988 million up 82%; adjusted EBITDA at breakeven with approximately $60 million year-over-year improvement
⦁ Company anticipates purchase of remaining 25% minority interest in MLSE in 2026; committed to unlocking the significant and unrecognized value of its premier sports assets
Delivers further balance sheet improvement; March 31 debt leverage ratio1 of 3.8x down from 3.9×1 at December 31, 2025; further improvement targeted through 2026
2026 free cash flow target increased significantly with reprioritization of capital expenditures
⦁ Company now expects 2026 and future annual capital expenditures of $2.5 billion to $2.7 billion, or a reduction of roughly 30% versus 2025; targeting 2026 capital intensity of ~12%
⦁ Company now expects 2026 free cash flow of $4.1 billion to $4.3 billion, or an increase of approximately $0.8 billion versus 2025; additional cash flow further accelerates debt reduction in 2026
⦁ Reaffirming 2026 outlook ranges for total service revenue and adjusted EBITDA growth
TORONTO (April 22, 2026) – Rogers Communications Inc. (TSX: RCI.A and RCI.B; NYSE: RCI) today announced its unaudited financial and operating results for the first quarter ended March 31, 2026.
“In the first quarter, we delivered steady results across our three lines of business supported by significant capital efficiency gains and strong free cash flow generation,” said Tony Staffieri, President and CEO. “We will continue to execute with discipline throughout 2026 as we look to monetize the very substantial unrecognized value in our world-class sports assets while accelerating free cash flow generation and advancing our deleveraging plan.”
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