rogers q3 2020 results

So, I think the key is choice above all else. Building on our digital gains in the early days of pandemic, our digital volumes continue to grow even as our stores reopened. Tony will provide additional detail and insight in a few minutes. Adjusted EBITDA grew 2% year-over-year. Thanks everyone for joining us on the call, and we will talk to you soon. We're very proud of how the Rogers team is navigating the current environment. Paul Carpino -- Vice President, Investor Relations. We also have, excuse me, the cost programs that will continue to reduce cost year-on-year, and that will be the sort of the second, what I would call, margin expansion piece of it. We are well prepared in this regard. I want to thank our entire team for their incredible effort and commitment they have demonstrated since the start of the pandemic. So just on the Cable business, you talked about your expectations for a sequential improvement in revenue, EBITDA, and EBITDA margin going into the fourth quarter. Researchers develop virtual mobile virus to better understand COVID-19... Cogeco and federal, Quebec governments bring high-speed internet to La... Government will give CRTC nine months to force foreign streaming giant... CRA locks another 800,000 taxpayer accounts as preventative measure. Phone makers with aggressive battery management can delay contact trac... Only 29 percent of Canadians are ‘very likely’ to download... SyrupCast 233: Sonos Roam and Koodo’s ‘thoughtful review... SyrupCast 232: Microsoft’s Surface Duo and carrier win-back season, SyrupCast 231: Samsung Galaxy S21, Lenovo X1 Fold and Apple Fitness+. Cumulative Growth of a $10,000 Investment in Stock Advisor, Rogers Communications Inc (RCI) Q3 2020 Earnings Call Transcript @themotleyfool #stocks $RCI, Rogers Communications (RCI) Q4 2018 Earnings Conference Call Transcript, Rogers Communication, Inc. (RCI) Q3 2018 Earnings Conference Call Transcript. And so, we had an initial run rate that we talked about taking six to eight quarters to run off the overage. It will reduce the cost of data and fundamentally change how Canadians and businesses connect to the world. When our customers do call us, our technical support agents also use our virtual assistance app. And lastly, big picture question, on the regulatory environment, it sounds like -- it seems like there is a sort of a change of heart at least on the wireline side of things. However, the performance to date within our bad debt allowance is currently running better than anticipated, and the CAD90 million provision previously established continues to provide sufficient coverage as the economy continues to work its way through the COVID environment. 8: Burning down the ‘Tau’-se, Viewer Experience podcast Ep. 9: Black Mirror: Bandersnatch wants to t... Viewer Experience podcast Ep. 593 . Postpaid churn in Q3 came in at 1.1%, a full 10 basis points better than Q3 of last year. Earnings Press Release PDF. 99% contractual rent collection, 40% Increase in NOI and 100% of YTD 2020 lease expirations renewed or re-leased /NOT FOR DISTRIBUTION IN THE … We saw a lot of competition in the flanker brand as the market kind of woke up again. Clearly, before the stores opening, it was largely all digital and direct volume, except for a handful of stores we kept opened for health workers, etc. Nest Thermostat Review: Excellent entry-level thermostat lacking some ... Volvo XC40 Recharge: In need of refinement, Samsung Galaxy Z Fold 2 Review: The foldable to beat, Samsung’s Galaxy S21+ Review: Not the flagship we’re used to, Samsung Galaxy S21 Ultra Review: Redemption story, OnePlus Nord N10 5G Review: Not the Nord I’m looking for. This is an increase from the 103,000 postpaid net subscribers the carrier reported in Q3 2019, according to its Q3 2020 quarterly earnings report released on October 22nd. Viewing numbers were strong and advertising showed notable improvements from Q2. Self-install now represent 95% of all installations, and the hardware costs continue to come down. Q3: 2020-10-22 Earnings Summary Transcript Press Release. I think there is concern out there in a market that's contracting or expanding less going forward that promotional activity gets too aggressive. You mentioned the equipment margins being positive, and obviously, EIP is starting to have a positive impact and that's great. Razer’s Kaira Pro is an adequate all-wireless gaming headset for... WaterField’s AirPods Max Shield Case is a great Smart Case alter... Apple Fitness+ makes a compelling case for the Apple Watch. EMS and PES segment sales increased sequentially and were partially offset by lower ACS sales. Created with Sketch. Thanks for taking my questions. Together with our enhanced self-installs, where our technicians drop-off equipment and provide support for our customers through our virtual assistance app, these contactless installs represented 95% of our cable installations in Q3. Also, less immigration, less foreign students and still you posted a very strong number. We'll see whenever in reports what it looks like, but we believe it was maybe 5 percentage points off of last year or roughly the same as last year. But as we head into next year, the next wave of -- or ongoing wave of cost efficiency should continue to keep it in check in the broader 20% to 22% that we had been targeting. With our leading position in unlimited plans, we continue to focus on driving the best long-term ARPU growth as we move into 5G. Leaked video shows off Samsung’s ‘Glasses Lite’ AR p... Apple reportedly developing micro OLED display tech for rumoured AR/VR... Apple executive Dan Riccio to focus on AR/VR headset development. Today, Rogers customers enjoy the best wireless network experience in the country. And then secondly, on the cost, I mean, certainly the Wireless opex -- the other opex decline of 13% definitely impressive. [App of the Week], Aeronaut is the prettiest memory game you ever did see [Game of the Week], Hands-on with the Gears of War 4 Limited Edition Xbox One S bundle, Windows Mixed Reality Review: A foot in the virtual door. Thank you. October 22, 2020 News Releases TORONTO (October 22, 2020) – Rogers Communications Inc. today announced its unaudited financial and operating results for the third quarter ended September 30, 2020. No one in Canada has more customers on unlimited plans than Rogers does, and no one has a bigger 5G network. However, there are many people that enjoy the benefit of supporting our customers through our care operations working from home. Rogers Schedules Q3 2020 Earnings Call for October 29, 2020. businesswire, October 20, 2020, 7:39 pm. Rogers attributes the increase to stores reopening and a recovering economy amid the ongoing COVID-19 pandemic. Our CI ratios in our Cable and Wireless businesses affirm our investment leadership in these assets. We opened up stores, and we saw this incredible pent up demand hit. One, could you just talk about the sustainability as you see it on the Wireless side? SyrupCast 230: Navdeep Bains steps down, the Netflix Tax and Starlink�... SyrupCast 229: CES 2021 and the Samsung Galaxy S21, SyrupCast 228: M1 Macs and the Porsche Taycan, SyrupCast 227: Xbox Series X vs PlayStation 5, SyrupCast 226: Apple’s iPhone 12 series and the iPad Air (2020), Viewer Experience podcast Ep. Author of the article: GlobeNewswire. So the vast majority of the cost improvements are things that are enduring, and will continue to pay dividends and we'll continue to invest in all of them. In general, we anticipate additional sequential financial and operating improvements in Q4. Microsoft shuts down ‘leak’ hinting at Xbox Series X/S VR ... Microsoft Mesh is a new Azure-based platform for build mixed reality e... HTC Vive Pro VR bundle is $300 off on Amazon’s website. Rogers’ blended ABPU (average billing per unit) for Q3 2020 was $63.55, representing a decrease from the $67.20 reported in Q3 2019. In Q3, the estimated impacts were CAD195 million in revenue and CAD80 million in adjusted EBITDA. brand names, logos, and marks are trademarks and/or copyright of their respective owners. In addition, we delivered 30,000 prepaid net additions. Vince, on the first part of your question on equipment margins, the sequential improvement in ARPU from Q2 to Q3 was predominantly as a result of improvements in the three categories that I mentioned earlier. Today, nearly all of our Top 5 service transactions are completed digitally. Last month, we moved to digital self-serve only for simple transactions, such as making bill payments, changing contact information. And if you saw any sort of moderate view from us earlier in the quarter through some of the conference discussions, it's really because we weren't quite sure if it was -- how much of it was pent up demand versus seasonal demand. Both of them, I don't want to get too far ahead of ourselves in terms of looking out into 2021, but what I can say a couple things. And so, we do see good prospect for continued margin expansion on a year-over-year basis. The average unlimited customer is giving us about CAD20 plus of increased ARPU compared to legacy base. Nintendo’s often rumoured ‘Switch Pro’ will reported... Google reveals 2nd-gen Nest Hub with new sleep tracking features. Matthew Griffiths -- Bank of America Merrill Lynch -- Analyst. The digital support and service will continue to ramp. Thanks, Diego. Xplornet launches 70 new towers to bring high-speed internet across ru... CRTC announces five projects receiving $26.7 million through Broadband... Canada ranks in top ten countries for 5G gaming and voice app experien... First project to receive funding under Universal Broadband Fund gets a... British Columbia currently has no intention of adopting COVID Alert app. Hi Good morning. EMS and PES segment sales increased sequentially and were partially offset by lower ACS sales. Updated COVID-19 exposure notification API may reduce false positives,... COVID Alert will soon be available in Nova Scotia, Prince Edward Island. First on the Wireless side, the competitive intensity front. So we created all these modalities that leveraged the power of our physical distribution and digital capability, and so therefore, we can swing in those directions. In Wireless, the current loading environment remains healthy, with competition driven by consumers upgrading phones and increasing data plans. 1,143 . The carrier notes that total revenue decreased by two percent this quarter, which is largely driven by a nine percent decrease in wireless service revenue. The year-over-year decline was largely due to reductions in roaming and overage revenues as I previously mentioned, while sequentially, we benefited from higher volume-related fees, fewer concessions, and bigger data plans. Our next question comes from Aravinda Galappatthige of Canaccord Genuity. Right now, what we're seeing is that, if you listen to the banks, credit card balances are declining. Stock Advisor launched in February of 2002. Last year in Q3, equipment margins were negative 2.7%, and today, they are positive 1.6%. I would now like to turn the conference over to Paul Carpino, Vice President of Investor Relations with Rogers Communications. The decrease in capital expenditures was driven by deferral of projects, including Greenfield projects given the pandemic, as well as improvements in Cable capex efficiency associated with self-install Internet and Ignite TV. In our Media business, we delivered notable improvements in Q3 with a return to revenue growth and profitability. “After experiencing the most significant impact of COVID-19 in the second quarter, our results have recovered materially, although they are still down compared to last year,” Rogers notes. How do we do more for the 10% or 15% of Canadians that aren't online or don't have great ability to get online because of broadband connectivity issues in rural Canada? In addition to efficiency and cost management opportunities, investing for growth remains a top priority. Should we -- since those goals have been advanced, is there any more progression that we should see past 2022 now, or is this kind of a steady-state from here on out? During the most complex business environment we have seen in our lifetime, our team has been there for our customers and for our communities. View online Launch site . Second, on the Shaw Mobile launch, have you seen material impact on competitive activity, particularly in Shaw's wireline footprint? That's why we took the pain around the overage melt through the course of last year, so that we're well prepared for this moment in time and what's going to transpire into the future. And that's a great conversation to have from the same side of the table looking at how do we build Canada's future through 5G fixed wireless, through expansion of the footprint and the like. Thank you. Please go ahead. August 5, 2020 Rogers Sugar Inc. (the “Company”- or “Rogers”) (TSX: RSI) today reported third quarter fiscal its 2020 results. Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing services. 4: Living in an ‘Anon’-ymous... Viewer Experience Ep. Great, thanks, David. And when they do come back, we do very well in that market, it will be even more accretive to the overall volume opportunity that's there for the Rogers team as a whole. So, each of those sort of had more of an impact sequentially. Arielle, next question? Looking ahead, Rogers said that as it is not possible currently to reliably estimate its financial results for the remainder of the year, it will not provide an updated financial outlook for 2020. What I do know is that we're ready, really ready in terms of however this might go in terms of people's propensity to want to visit a store or not visit a store, shop online, let a technician in their home or not let a technician in their home, we've got all modalities fully functioning and well-polished. In Q3, it bounced back. And we're ready to transact in whatever means or mechanism that's out there. umlaut, a global leading in network testing and benchmarking that ranks the performance of typical consumer use cases and tests, testings like network reliability, download and upload speed, call set up time, video streaming stability and quality, has awarded Rogers the best wireless network in Canada for the last two years. And this will serve us well as we invest in more service and technology innovation, and in rolling out the next generation of wireless and broadband capabilities. And through necessity, in part, we were able to, again, pivot to better operating models that fundamentally gave us the opportunity to reverse, reduce the capex spend and capitalize on efficiency. We're very pleased to report that our DOCSIS and fiber network investments continue to gain recognition. Next, I want to highlight some recent business improvements that will play an important role in driving both efficiency and growth into the future. So, as you look to Q4, expectation of continued margin expansion in Wireless. Postpaid net additions of 138,000 were up 34% year-over-year and gross loading was up 3%. Apple will reportedly ship roughly one million AirPods Max headphones ... Apple’s 3rd-gen AirPods are ready to ship, says reliable leaker. Just cost overall, in terms of -- Aravinda, I think it was more of all the cost improvements as a whole are [Phonetic] sustainable. We continue to be very efficient with our capital spending. But I wanted to look ahead and get your thoughts on how sustainable you think those components are going forward and what you think the trajectory is, as we look into maybe next year on what those service margins in Wireless should be. They will come into the office every few weeks just to stay connected, get some training, kind of culture days, if we can call them that, etc. A couple of follow-ups to start with. You add to that the handset discipline that Tony talked about in the beginning, we're seeing equipment margins positive -- positive equipment margin probably for the first time in the history of the industry as a whole. And they're very encouraging to see that channel mix move in our favor from that perspective, that's not going away. Seems like you're well positioned here in 5G-enabled handsets, particularly iPhone come into the Canadian market this quarter. Chandler, Arizona, October 29, 2020: Rogers Corporation (NYSE:ROG) today announced financial results for the third quarter of 2020. Rogers Schedules Q3 2020 Earnings Call for October 29, 2020 Release Date: 10/20/2020 Chandler, Arizona, October 20, 2020: Rogers Corporation (NYSE:ROG) plans to announce third quarter 2020 results on October 29 after market close, which will be followed by a conference call at 5:00 pm ET. The pace and size of this improvement demonstrates the attractiveness of sports properties to advertisers and the significant appetite consumers have for our sports broadcasting properties. And then the third is, don't forget the mix shift impact that is a natural driver of margin expansion as more of the revenue comes from Internet, which carries very little ongoing variable costs compared to video that helps margin as well. And so far, we're seeing a very healthy focus on Wireless. Rogers Communications Inc Q3 2020 Earnings Call Oct 22, 2020, 8:00 a.m. You may recall, by third quarter, when we had our call in October, we were already at a million subscribers, and at that base, our projections were by this period we'd probably be at about 2.8 million subscribers. And I just went through a mental list of all of them from the benefits of self-installing Cable, we were at 5%, full technician install, we're probably running about 10% right now. The market is going to abundance of data and 5G will enable that capability and we're ready for it as a shift happens. TORONTO (October 22, 2020) - Rogers Communications Inc. today announced its unaudited financial and operating results for the third quarter ended September 30, 2020. The reversal in margins is even more stark if you look to equipment margins before the launch of EIP at the beginning of Q3 last year. Our cash tax rate as a percentage of adjusted EBITDA was 4.6% in the quarter, and should be in that same range for the rest of the year 2020. You add to it pro on the go, which allows you to order online or call in to order and have someone bring it to your home or bring it to wherever you might be. Mandate A La Carte Cable Like Canada? PDF. Bear in mind that over half of our base is on an iPhone, so it's a very significant part of our day-to-day business, and we believe we have the largest iPhone base in Canada. Why don't you start on the overage question, maybe Tony, talk a bit about where we started in June of last year, and how this sort of evolved? And with that choice comes not just economics in terms of the cost of fulfillment, but the channel economics are fundamentally different between third-party, between store, between the channel I just described, etc. Alleged Qualcomm Snapdragon 775 chip details leak online, Samsung and Mastercard collaborating to develop fingerprint payment card, Qualcomm announces Snapdragon Sound platform to optimize wireless audio, Samsung announces mid-range Galaxy A52, A52 5G and A72, Here’s how to watch Samsung’s Galaxy Awesome Unpacked event, OnePlus 8 series is now on sale in Canada, Surface Duo successor rumoured to sport improved software and 5G, RedMagic 6 and 6 Pro gaming phones coming to Canada in April, OnePlus confirms ‘Morning Mist’ OnePlus 9 Pro variant, Some Google Pixel devices encountering Daylight Saving Time update issue. Welcome to the Rogers Communications Third Quarter 2020 Results Conference Call. Choice matters and multiple sales and service channels matter. Unlimited at 2.2 million customers, we believe is the largest unlimited base by far in Canada, and the 5G is only available on those plans as a whole. Will the U.S. It's Matt sitting in for David. And I just think it just creates the foundation for a whole different dialogue and narrative with government more focused on collaboration than in the past. “The pandemic has resulted in strong consumer demand for both our sugar and … First, our results. Silk Road Medical, Inc. (NASDAQ:SILK) Q3 2020 Results Conference Call November 10, 2020 4:30 PM ET Company Participants. I think it's important to highlight that the short term nature of promotions in our industry corresponds to active consumer shopping and are reflective of healthy competition in the market. Next question, Arielle? Our industry is up 19 points in terms of trust. And of course, none of this great work, and none of these accomplishments during this quarter could have happened without the dedication of our team members. I think what it underscores is that connectivity is an important part of life as a whole and mobile connectivity matters. Digital sales adoption is up materially year-over-year and we're seeing a healthy mix between digital and bricks and mortar retail. ©2020 Rogers Communications . Just wondering if September was a particularly strong month because the public comments you made earlier in September I thought were a little more cautious than the numbers that came out today. And as Joe talked about, and we've pivoted several -- maybe many of our operating models, capturing digital in a much more fundamental way, not only at the customer level, but if you think about our back office, and those transactions. This is Diego Barajas filling in for Simon. So I think when the market opened up again, everyone said, OK, game on, game on, and we saw a lot of competition in the flanker brand. There hasn't been enough in the base to cause that movement in ARPU. However, with a more active market looking to upgrade, as highlighted by our 300,000 sequential increase in unlimited plans, we continue to have the right focus on ARPU drivers as the underlying fundamentals of these plans remain positive. Ottawa Health intern Ryan Reynolds reminds Canadians to wear a mask an... Peel Public Health orders Amazon Canada to close Brampton, Ontario fac... Distributel acquires Primus, brings it under Canadian ownership, Shaw reports 31 percent increase in postpaid net additions in Q1 2021, Toronto’s dotmobile approved as first full MVNO in Canada, Telus launches $100 million social impact fund to invest in startups, Shaw gained 60,000 net wireless subscribers in Q4 2020, CRTC approves request to extend Bell’s AI call blocking trial. Two from me. As we continue to work through the near-term overage to clients, we do anticipate multiple, financial, and operational benefits to be reflected in our results as this transition is completed. “The strong sequential improvement in our third quarter results is reflective of solid execution across our businesses, including continued growth in our digital-first efforts, to ensure our customers have a range of channels available to meet their needs,” said Rogers CEO Joe Natale, in the report. Here are the changes to Canadian carrier rate plans this week [March 1... Rogers signs agreement to acquire Shaw Communications in deal valued a... SpaceX launches third batch of Starlink satellites in two weeks, SpaceX launches 60 more Starlink satellites during 21st mission, Huawei to charge royalty rates for patented 5G phone technology, Samsung to hold next ‘Unpacked’ event on March 17, Qualcomm working on lower-cost Snapdragon 888 variant without 5G. We've seen very robust pre-orders. Obviously, so many moving parts in terms of shutdown and reopen. EPS of $0.82 beats by $0.23 | … With this significant upturn in business activity, we were pleased to see that handset costs are no longer a drag on our P&L. We think the one, two punch is physical distribution and online capability and creating customer journeys and modalities that integrate the two. Second quarter EBITDA went from a negative CAD35 million in Q2 to positive CAD89 million in Q3, reflecting the improvement in advertising revenue. PlayStation’s ‘Mega March’ sale offers up to 60 perc... OnePlus Watch won’t feature Google’s Wear OS, Apple now lets Russia advertise local developers during iPhone setup, OnePlus Watch leak details Warp Charge, health tracking and more. Mississauga man pleads guilty to laundering money for North Korean Son... Court rules U.S. border agents can search all travellers’ phones... TekSavvy receives SWIFT Contracts to build Southwestern Ontario fibre ... Clearview AI violated Canadian privacy laws with facial recognition to... SpaceX’s Starlink could provide internet to boats, trucks and ai... Canadian 5G average download 205 percent faster than 4G: Speedtest report, 5G median download speeds 205 percent faster than 4G in Canada: report. So we'll find that sort of hybrid mix in areas where it makes sense. And so, while the demand for unlimited is robust, it's trailed when compared to what our heightened expectations were at this time last year. Arielle, we have time for one more question. This improvement was also achieved despite no contributing revenue from Blue Jays home games. Analyst Call Transcript PDF. Earlier this week, Ookla, a leader in network testing, recognized Rogers as the Internet provider with the fastest speeds in Canada and the best consistent performance nationally. As we've previously noted, after Q2, our results during the economic shutdown did not reflect the underlying fundamentals of our Company, nor the long-term growth prospects of our Wireless, Cable or Media businesses. Thanks, Aravinda. Please go ahead. Our virtual assistant conversations jumped over 200% since last year and nearly 20% sequentially. 0 0 . And that's similar for the Cable side as well, although your question was more in the context of CI. Additionally, no incremental provisions for bad debt were required. Rogers delivered significant sequential improvements in Q3 across each of our businesses with a solid performance in customer additions, revenue growth, profitability, and free cash flow. I think that's pretty much all I'm going to say about Cogeco today, and really want to focus the energy and intention on the hard work of the quarter and what the team has delivered. I could not be prouder of the continuous improvement culture that has been built at Rogers. ET. Rogers Corporation (NYSE:ROG) plans to announce third quarter 2020 results on October 29 after market close, which will be followed by a conference ca Rogers Schedules Q3 2020 … Rogers Communications Inc (NYSE:RCI)Q3 2020 Earnings CallOct 22, 2020, 8:00 a.m. Furthermore, transactional fees such as late payment charges and restoral fees continued to be down in Q3 by another CAD20 million, representing another 1 point of our decline. Thanks very much. Rogers Corporation (NYSE:ROG) today announced financial results for the full year and fourth quarter of 2020. We were somewhat worried that the duplication or triplication of sporting events at the same time would dampen the amount of ad revenue we'd be able to generate, but it came in quite nicely across all the sports franchises.

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