Rogers Communications: 3 Key Takeaways for Long-Term Investors

Rogers Communications reported record free cash flow of over CAD 1.3 billion in its third-quarter 2026 earnings call on Oct. 23, following a 46% drop in capital spending. Management said it is exiting lower-priority network builds to improve financial flexibility, lowering capital intensity to under 10% in the quarter and 12% year-to-date. Free cash flow rose 65% quarter over quarter and 34% year-to-date, driven by reduced capital intensity and streamlined investment priorities. On the operating side, Rogers emphasized premium wireless services and ARPU, favoring its flagship Rogers plans over volume-driven discounting. In sports, the company acquired the remaining 25% stake in MLSE, aiming to monetize by selling a minority stake to institutional partners by mid-2027.