Sentiment Analysis of the earnings transcript to help figure out if there are any bullish or bearish sentiments that could be gathered from it. We're doing ML and AI based analysis on the earnings call to get some more insights.
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| Statement |
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| And as we exited Q3 and are now into and approaching Black Friday, we continue to see good healthy competition |
| And of course, that's all wrapped together in the revenue growth that you see translated to a very good flow-through rate, significant flow-through rate, and strong and strong margin expansion and performance |
| But we are delivering very strong earnings growth and very strong free cash flow generation to continue that pace to delever |
| I'm very pleased to report that we delivered industry-leading results in the third quarter, our seventh consecutive quarter of growth and momentum |
| Very pleased with that take up -- and so at a 30% run rate that would translate to roughly $300 million a year of cash savings I'll let you all know I understand and acknowledge that that does not mean the dividends didn't get paid |
| And so, we're seeing very good market acceptance there |
| And so, while we're seeing good success in the overall scheme of total wireless loadings, it's still is the minority, not the majority to be clear |
| Our consolidated adjusted margin performance of more than 47% is 340 basis points higher than our competitor BCE, and almost a thousand basis points higher than TELUS |
| That adds obviously very strong |
| In wireless, we delivered industry leading financial and operating results |
| This reflects the best combined postpaid and prepaid loading in our company's history |
| That's a pretty strong performance |
| Let me answer it this way, we have got, two capital-intensive businesses in Wireless and Cable with strong margins |
| We also delivered impressive financial results in the quarter |
| And so, as we streamline our product set in that segment of the market, we're seeing very good traction there |
| The growth in the industry of course, better penetration rates, but importantly, the continued growth in the new to Canada category continues to seem strong, even as we exit the third quarter and into October, November now |
| In cable, we saw market share gains accelerate across the east and the west |
| These gains are driven by our new bundled offers, our network investments, and our 5G leadership |
| Looking ahead, Alberta and British Columbia represent our fastest growing revenue markets and we see good growth opportunity ahead |
| And as I said, that's coming in better than we expected this soon in the process |
| This represents a margin expansion of 650 basis points compared to last year, and clearly demonstrates our focus on driving profitable growth despite a highly competitive market |
| We just passed the six-month milestone and I'm very pleased with our momentum |
| That category continues to grow, and we do well in terms of market share in that category |
| So, we're pleased with the market trend and appetite of customers to put together products, between wireless and cable |
| And the customer take up and interest in that has been very strong, not surprising |
| The simple truth is we've done some heavy lifting in removing those costs permanently, removing those costs, and you see, notwithstanding what has been a 3% decline in revenue organically, we have had a very substantial 8% growth in EBITDA as we turn revenue around, that's going to be a pretty powerful business case |
| That's a strength of our business though |
| In Q3, we were awarded the best and most reliable 5G network in the country, for the fifth year in a row |
| And we are on that, and that will obviously help lift, obviously stronger growth in EBITDA as we are successful in turning that around |
| Our Shaw integration is proceeding extremely well and our investment thesis becomes stronger with each quarter |
| Statement |
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| We have posted the margin we have this morning on the back of a small decline in revenue year over year in the quarter |
| Organic revenue and adjusted EBITDA growth across the combined operations was negative 3% and plus 8%, respectively |
| If one were to critique it, one might say that, some of the pricing actions that you took during the quarter impacted your ability to take share and if one extrapolated from that, one might imagine that pricing in the industry is a little less stable than people would hope, and that in reaction to your very strong loadings in the quarter, it is an inevitability that other competitors are going to have to come back with their own pricing actions |
| It does kind of back out to perhaps a high single-digit decline in Rogers cable organically |
| According to the stats can consumer price index wireless prices have declined over 30% over the past three years |
| And in cable, if -- that's also within cable factoring in the prior year credits as well, the pro forma service revenue growth would've been down 3% and the EBITDA growth would've been up 8% |
| The Q3 net loss also reflects higher depreciation and amortization, finance and restructuring, acquisition and other costs primarily related to our Shaw acquisition |
| As I say, when we -- I expect we will come down by 0.1 to 0.2 per quarter, roughly a half to earn a year |
| While we need to grow revenue, we've turned the corner on subscriber trends |
| Could not have done this on a consistent and sustained basis without the commitment, tenacity, and ingenuity of our Rogers team |
| Net loss for the quarter was $99 million, which included a one-time non-cash $422 million loss recorded on a future obligation to purchase at fair value, the non-controlling interest in one of our joint venture investments |
| Notwithstanding this increase average capital intensity declined in the quarter by 330 basis points to 20% predominantly split across cable and wireless |
| This Rogers owned bank credit card platform reduces the monthly phone payments for our customers by 50% |
| It's clear we're creating more competition in the west and Canadians are responding |
| I know you don't get too deep into that |
| Please review the cautionary language in today's earnings report and in the 2022 annual report regarding the various factors, assumptions and risks that could cause our actual results to differ |
| Once again, just are you being conservative about the macro environment or Black Friday promotions? Just curious why you wouldn't bump EBITDA guidance up a bit for Q4 given the progress you've made |
| Just wanted to unpack while you're guiding to the higher end of the free cash flow range EBITDA being unchanged seems a little bit conservative, particularly in light of the higher expectation for synergy realization in the quarter or in 4Q and exiting the year |
| But frankly, for the industry, here in Canada |
| We're not -- I'm not dampening that at all |
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