Rogers Communications Inc. · RCI · FY2024 Q4 · Calendar Q1 2025

Rogers maintains guidance while expanding network and MLSE plans

The supplied analysis supports a cautiously constructive operating picture: management reported growth across wireless, cable, and media and maintained guidance, while network investment and expanded sports and media assets provide stated growth drivers. The thesis is tempered by competition, ARPU, market-size, approval, capex, and leverage risks.

Reported Before market openNYSECommunication Services $17.50B market cap
80quality score

Earnings scorecard

Reported versus consensus
Reported EPS — Consensus $0.97
EPS surprise — Reported versus consensus
Reported revenue — Consensus $3.87B
Revenue surprise — Reported versus consensus

Market reaction

prior-close to event-session close
Stock move -0.5% Event window
SPY move +0.5% Same window
Abnormal move -1.0% Stock minus SPY
Volume 0.9× Versus trailing sessions
Subsequent drift -3.0% Up to 20 sessions
RCISPY benchmark

Ask FN2 about RCI FY2024 Q4

Transcript, numbers and history already loaded
What drove RCI's -0.5% move after FY2024 Q4 earnings?What changed in RCI's guidance and outlook in FY2024 Q4?Give me the bull and bear case for RCI after FY2024 Q4 earnings.

Free account. Your question opens in FN2 with this report's transcript and numbers attached.

Transcript intelligence

What changed

Rogers moved from prior-quarter plans toward a Q4 2024 framework that includes 2025 single-digit revenue and EBITDA growth, $3.8-$4.0 billion of capex, acquisition of the remaining 37.5% of MLSE, and continued network and Xfinity investment. Management also continued to pursue a $7 billion structured equity transaction to reduce debt.

Guidance delta

Maintained; 2025 guidance calls for single-digit revenue and EBITDA growth with capex of $3.8-$4.0 billion.

Key takeaways

  • Management described Q4 2024 growth across wireless, cable, and media, with industry-leading margins and a 26% increase in free cash flow.
  • Rogers plans to acquire the remaining 37.5% of MLSE, subject to Competition Bureau, league, and CRTC approvals.
  • The company plans continued 5G, DOCSIS 4.0, fixed-wireless, and Xfinity investment while pursuing a $7 billion structured equity transaction to reduce debt.

Management priorities

  • Complete the remaining 37.5% MLSE acquisition, subject to stated approvals.
  • Roll out DOCSIS 4.0, complete mid-split deployments, and expand fixed wireless access.
  • Develop satellite-to-mobile technology and grow the Rogers Xfinity suite through new services and cross-selling.
  • Pursue the $7 billion structured equity transaction and manage 2025 capex of $3.8-$4.0 billion.

Follow RCI with an agent that reads every filing, transcript, and price print. Free to start.

Try FN2 free

Earnings History

Estimate Beat Miss Match
RCI EPS earnings history estimate and actual scatter chart 10 reported fiscal quarters and 4 future estimate-only quarters. Q2 '24 estimate $0.83 Q2 '24 actual $0.85, beat Q3 '24 estimate $1.07 Q3 '24 actual $1.04, miss Q2 '25 estimate $0.80 Q2 '25 actual $0.82, beat Q3 '25 estimate $0.92 Q3 '25 actual $0.99, beat Q4 '25 estimate $0.98 Q4 '25 actual $1.08, beat Q1 '26 estimate $0.73 Q1 '26 actual $0.74, match Q2 '26 estimate $0.80 Q2 '26 actual $0.83, beat Q3 '26 estimate $0.84 Q3 '26 actual $0.92, beat Q4 '26 estimate $0.94 Q1 '27 estimate $0.69 Q2 '27 estimate $0.78 Q3 '27 estimate $0.91
Show 2 more >

Analyst Consensus ?

ConsensusHold25 ratings
Bullish1144.0%
Neutral1352.0%
Bearish14.0%

Analyst 52W Price Targets

$32.44Current
$35Low
$47Average
$70High

Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Oct 26, 2026. Not an FN2 forecast.

Firm-level rating actions

FMP grade actions identify the grading firm, not a named analyst.

FirmRatingPrior ratingActionDate
Barclays Equal Weight Equal WeightMaintainOct 13, 2026
RBC Capital Outperform OutperformMaintainApr 23, 2026
B of A Securities Neutral BuyDowngradeJan 14, 2025
TD Securities Buy BuyMaintainSep 19, 2024
BMO Capital Outperform OutperformMaintainSep 19, 2024
Show 20 more rating actions

Named analyst price targets

Upside is calculated against the persisted current price $32.44. FMP does not supply a rating on these named-analyst rows.

FirmAnalyst52W targetPrice when postedUpsideDate
BarclaysLauren Bonham$35$29.9 +7.9%Oct 13, 2026
BarclaysAnalyst unavailable$36$33.86 +11.0%Jul 16, 2026
BarclaysAnalyst unavailable$37$36.49 +14.1%Jan 27, 2026
BMO CapitalTim Casey$70$40.19 +115.8%Sep 19, 2024
BarclaysLauren Bonham$46$40.35 +41.8%Apr 10, 2024

Track every rating change on RCI the moment it posts. Free to start.

Start free

Company context

Snapshot as of publication

Rogers Communications Inc., a prominent Canadian telecommunications and media conglomerate, structures its diverse operations across three core divisions: Wireless, Cable, and Media. In its Wireless segment, Rogers caters to approximately 11.3 million subscribers through its Rogers, Fido, and chatr brands. This division offers an extensive range of mobile services, including internet access, traditional and enhanced voice communication, wireless home phone, and global voice and data roaming. Customers also benefit from device and accessory financing, device protection plans, email, and convenient device delivery services. Furthermore, Rogers provides specialized wireless solutions for businesses, encompassing machine-to-machine (M2M) connectivity, Internet of Things (IoT) platforms, and landline bridging. The Cable division delivers high-speed internet and comprehensive WiFi services.…

Historical context

All RCI earnings
-2.4%FY2026 Q3 · Calendar Q4 2026-4.1%FY2026 Q2 · Calendar Q3 2026+6.3%FY2025 Q4 · Calendar Q1 2026

Communication Services peers this season

Latest reports in the same sector
CompanyQuarterEPS surpriseMarket moveHeadline
VZ Verizon Communications Inc. FY2026 Q3 · Calendar Q4 2026 — -2.8% Verizon’s demand rebound broadens as AI Connect scales
OMC Omnicom Group Inc. FY2026 Q3 · Calendar Q4 2026 +2.2% +2.6% Omnicom pairs resilient demand with AI and integration progress
SPOT Spotify Technology S.A. FY2026 Q3 · Calendar Q4 2026 -11.6% +11.1% Spotify: resilient Q3 demand, with AI and audiobooks central to growth
CMCSA Comcast Corporation FY2026 Q3 · Calendar Q4 2026 +8.5% +3.4% Comcast balances wireless and Peacock gains against Q4 costs

Latest beats and misses

Who reports next

Beat on EPS

Missed on EPS

Get the RCI recap when the next report posts

One email per quarter with the scorecard, the market reaction and what changed on the call. No account needed.

Sources

  1. Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
  2. FN2 earnings calendar · 2025-01-16T00:01:26.053560+00:00
  3. Polygon adjusted daily market bars · 2026-10-26T15:50:45.691977+00:00
  4. Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-26T15:50:45.689149+00:00

Methodology

Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.

Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.

Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.

By FN2 Research · Updated · As of 2026-10-26. For educational purposes only; not investment advice.