Cogeco Inc
TSX:CGO

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Cogeco Inc
TSX:CGO
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Price: 62.9 CAD -0.51% Market Closed
Market Cap: 606.5m CAD

Cogeco Inc
Investor Relations

Cogeco, Inc. operates as a diversified holding company, which engages in providing cable television, Internet, telephony and other telecommunications services to residential and commercial customers in Canada. The company is headquartered in Montreal, Quebec and currently employs 3,844 full-time employees. The firm through its subsidiary, Cogeco Communications Inc. provides Internet, video and telephony services through its two-way broadband fiber networks. The company operates through two segments: Canadian broadband services and American broadband services, which provides a range of Internet, video, telephony and cable services primarily to residential customers, as well as business services across their coverage areas. The Canadian broadband services activities are carried out by Cogeco Connexion in the provinces of Quebec and Ontario and the American broadband services activities are carried out by Atlantic Broadband in around 12 states, which include Connecticut, Delaware, Florida, Maine, Maryland, New Hampshire, New York, Pennsylvania, South Carolina, Virginia and West Virginia. Its Cogeco Media subsidiary owns and operates around 23 radio stations as well as a news agency, Cogeco News.

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CGO
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Last Earnings Call
Fiscal Period
Q3 2025
Call Date
Jul 16, 2025
AI Summary
Q3 2025

Canadian Internet Growth: Strong Internet subscriber growth in Canada continued, with 9,400 new subscribers added in Q3, fueling optimism for Q4 and next year.

Transformation Synergies: Operational and capital expense synergies from transformation are tracking well above plan, enabling a net reduction in CapEx and further strengthening free cash flow.

U.S. Performance Headwinds: U.S. business faced subscriber and revenue declines due to heightened competition and internal execution issues, but management expects gradual improvement starting in Q4.

Guidance Updates: Revenue outlook for fiscal 2025 was lowered due to U.S. pressures, but adjusted EBITDA guidance was maintained and free cash flow guidance was raised on the back of transformation efficiencies.

Canadian Wireless Launch: Cogeco will soon launch a new wireless service in Canada, available exclusively to existing wireline customers, with an initial rollout in 12 markets and a time-limited launch bonus.

Capital Allocation: Leverage ratio improved to 3.1x debt to EBITDA; management expects to continue raising the dividend and may revisit share buybacks as target leverage is achieved.

Regulatory Frustration: Management criticized CRTC’s stance on the TPIA regime, arguing it disadvantages regional players like Cogeco.

Key Financials
Canadian Internet Subscriber Additions
9,400 net additions
Canadian Revenue
declined 1.8%
Canadian Adjusted EBITDA
declined 1.3% (constant currency)
Canadian Homes Passed (network expansion)
8,200 in Q3
U.S. Revenue
declined 6.6% (constant currency)
U.S. Internet Subscriber Net Loss
10,400 net loss
U.S. Adjusted EBITDA
declined 3.7% (constant currency)
Cogeco Communications Revenue
declined 4.1% (constant currency)
Cogeco Communications Adjusted EBITDA
declined 2.4% (constant currency)
Diluted Earnings Per Share
declined 1.8%
Capital Intensity
17.2%
Capital Intensity (excluding network expansion)
15.4%
Free Cash Flow (constant currency)
increased 61.5%
Net Debt to Adjusted EBITDA
3.1x
Dividend Declared
$0.922 per share
Cogeco Inc. Revenue
decreased 3.9% (constant currency)
Cogeco Inc. Adjusted EBITDA
declined 2% (constant currency)
Media Operations Revenue
increased 4.4%
Earnings Call Recording
Other Earnings Calls

Management

Mr. Frederic Perron B.Com.
President, CEO & Director
No Bio Available
Mr. Patrice Ouimet B.Com., C.A., CPA, FCPA
Chief Financial Officer
No Bio Available
Mr. Frank H. M. van der Post B.S., M.S.
President of Breezeline
No Bio Available
Mr. Sean Brushett
Chief Operations Officer
No Bio Available
Mr. Tim Dinesen
Chief Technology & Information Officer
No Bio Available
Mr. Troy Crandall
Head of Investor Relations
No Bio Available
Mr. Paul Cowling
Chief Legal & Corporate Affairs Officer
No Bio Available
Mr. Francois-Philippe Lessard C.F.A.
Vice President of Corporate Development
No Bio Available
Ms. Linda Gillespie
Chief Human Resources Officer
No Bio Available
Ms. Marie Ginette Lepage M.B.A.
Senior Vice President of Transformation
No Bio Available

Contacts

Address
QUEBEC
MONTREAL
1, Place Ville-Marie, Office 3301
Contacts
+15147644600.0
corpo.cogeco.com