Quarterly ResultJul 22, 2026, 08:42 AM
Rogers Q2 Service Revenue +8%; Acquires Remaining 25% MLSE for $4.35B
AI Summary
Rogers Communications reported strong Q2 2026 results with an 8% increase in total service revenue and a 3% rise in adjusted EBITDA. The company also announced an agreement to acquire the remaining 25% ownership interest in Maple Leaf Sports & Entertainment (MLSE) for $4.35 billion, intending to fully own MLSE and then pursue a sale of a minority interest in its consolidated sports, media, and entertainment assets. Despite a net loss of $665 million primarily due to a non-cash revaluation of the MLSE put liability, free cash flow increased by 6% to $1.0 billion, and capital intensity improved significantly.
Key Highlights
- Rogers to acquire remaining 25% of MLSE for $4.35 billion, aiming for 100% ownership.
- Total service revenue increased 8% to $5.1 billion.
- Adjusted EBITDA grew 3% to $2.4 billion.
- Free cash flow rose 6% to $1.0 billion.
- Wireless adjusted EBITDA increased 1% with a 66% margin.
- Cable adjusted EBITDA increased 1% with a 58% margin.
- Media revenue surged 53% to $1.2 billion, driven by MLSE consolidation.
- Net loss of $665 million due to $1.034 billion non-cash loss on MLSE put liability revaluation.
Price Impact
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