Quarterly ResultAug 6, 2026, 11:25 AM
Cogent Communications Q2 Net Income $66.6M; Dividend Cut
AI Summary
Cogent Communications Holdings, Inc. reported a significant swing to net income in the second quarter of 2026, posting $66.6 million compared to a net loss of $57.8 million in the same period last year. This improvement was largely driven by $132.0 million in gains from asset sales, despite a decrease in service revenue to $235.6 million. The company also announced a substantial reduction in its quarterly dividend to $0.02 per share from $1.010 previously.
Key Highlights
- Q2 2026 Net Income was $66.6 million, a significant improvement from a $57.8 million net loss in Q2 2025.
- Q2 2026 Basic EPS was $1.39, up from $(1.21) in Q2 2025.
- Q2 2026 Service Revenue decreased to $235.6 million from $246.2 million in Q2 2025.
- Gains on asset sales contributed $132.0 million to Q2 2026 results.
- Dividends declared per common share for Q2 2026 were $0.02, down from $1.010 in Q2 2025.
- Net cash provided by operating activities for H1 2026 was $18.0 million, up from $(7.7) million in H1 2025.
- Net cash provided by investing activities for H1 2026 was $197.7 million, including $224.2 million from asset sales.
Price Impact
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