Rogers Communications Delivers Strong Q3 2026 Results with Record Free Cash Flow and Improved Balance Sheet
Rogers Communications Inc., a leading Canadian telecommunications company, has reported strong financial results for the third quarter of 2026. In a conference call on October 23rd, the company's management team highlighted several key achievements that demonstrate their commitment to delivering value to shareholders.
According to Tony Staffieri, President and Chief Executive Officer of Rogers Communications, the company "demonstrated strong execution in our three lines of business during the third quarter." This was achieved despite a backdrop of lower market activity. In addition to growing consolidated service revenue and adjusted EBITDA each by 1%, the company delivered industry-leading wireless and cable margins of 68% and 59%, respectively.
One of the most significant accomplishments in Q3 2026 was the reduction in capital expenditures, which fell by 46%. This resulted in Rogers Communications' lowest capital intensity ratio in over two decades. The company also generated a record amount of free cash flow, producing CAD 1.3 billion during the quarter.
The acquisition of the remaining 25% stake in MLSE on October 1st marked another major milestone for Rogers Communications. This deal brings the company's ownership of one of the most valuable collections of sports, entertainment, and media assets globally to 100%. These assets are poised to appreciate in value, but their current market price is not reflected in the company's share price.
In its three lines of business – wireless, cable, and media – Rogers Communications delivered strong results. In wireless, the company stayed focused on delivering profitable growth rather than chasing subscriber volume in a less active market. This intentional strategy resulted in 17,000 postpaid and prepaid mobile phone net additions. The launch of back-to-school offers in late July also contributed to the company's success in this sector.
The cable business saw its sixth consecutive quarter of positive service revenue growth, with adjusted EBITDA growing as well. Internet net adds reached 10,000 during the quarter, a testament to the company's resilience in a less active telecom market.
In media, Rogers Communications delivered very strong results, with revenue growing by 9% and adjusted EBITDA increasing by 12%. The Toronto Blue Jays had a standout season, drawing over 3.3 million fans at their games and achieving an average attendance capacity of 97%, the highest in the American League this year.
Rogers Communications' management team emphasized that these results demonstrate the company's unique competitive position as a global communications, sports, and entertainment leader. By consolidating its sports media and entertainment assets and selling a minority interest to third-party investors by mid-2027, Rogers Communications is poised to unlock shareholder value and drive long-term growth.
