Rogers Communications presented its outlook at the CIBC Eastern Institutional Investor Conference on Thursday, Sept. 24, 2026. The telecom operator reaffirmed 2026 capital expenditure guidance of CAD 2.5 billion to CAD 2.7 billion, aimed at expanding network capacity and supporting its growing data services.
Revenue over the trailing twelve months rose 8.73%, while the company highlighted a shift in wireline revenue from a roughly 4% decline after the Shaw acquisition to modest 1% growth. Data usage continues to climb at more than 30% annually, underscoring the importance of Rogers' broadband and mobile offerings.
The firm maintained its dividend at a 4.35% yield, marking 24 consecutive years of uninterrupted payments, and received a "GOOD" financial‑health score of 2.86 from InvestingPro. Shares traded at USD 33.27, down 3.31% on the day, before edging to USD 33.40 in after‑hours trading.
Rogers' network reaches about 99% of the Canadian population but covers only 12% of the landmass, reflecting the country's sparse geography. The company can bundle wireline and wireless services to roughly 60% of homes in British Columbia, Alberta, Ontario and Atlantic Canada, with fixed wireless extending coverage to the remaining households.
A notable strategic element is the partnership with SpaceX’s Starlink, which provides satellite‑to‑mobile backup across latitudes 49° to 58°, spanning the Pacific to the Atlantic. The discussion also referenced the pending acquisition of Maple Leaf Sports & Entertainment (MLSE), expected to close early in the fourth quarter of 2024, expanding Rogers' portfolio of sports and entertainment venues.
CFO Glenn Brandt warned that aggressive discounting in Q1 2024 spurred churn and pricing pressure, saying, "All the discounting does is encourage churn." He added that the concentration of MLSE assets presents a significant growth opportunity in Toronto's sports and concert market.
Overall, Rogers emphasized disciplined growth, leveraging its extensive mobile footprint, expanding data consumption, and strategic assets such as MLSE and the SpaceX partnership to sustain profitability amid a competitive Canadian telecom landscape.
