Cogeco reports $81.5M Q4 profit as company navigates 'challenging' U.S. environment
The Montreal-based telecom company lifted its payout by two cents a share as U.S. customer losses and softer revenue cloud its 2027 outlook.
- On Thursday, Montreal-based Cogeco Inc. reported a fourth-quarter profit of $81.5 million, up from $76.2 million a year earlier, and raised its dividend to $1.007 per share.
- Despite profit gains, overall revenue fell to $713.9 million from $731.4 million, as Chief executive Frédéric Perron cited an intensifying competitive environment that resulted in more than 11,000 U.S. internet customer losses.
- Canadian telecom revenue increased 0.6 per cent in the quarter, while Perron said the internet brand Oxio shows "no sign of slowing down" across Quebec and Ontario.
- Scotiabank analyst Maher Yaghi labeled the outlook "weaker than expected," warning that "deterioration in the U.S. business" remains a work in progress with significant downside risk.
- Cogeco expects a low to mid single-digit per cent revenue decline in 2027, though Chief financial officer Patrice Ouimet said Canadian revenue will remain stable amid persistent competition.
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The Toronto Star
NiagaraFallsReview.caCogeco reports $81.5M Q4 profit as company navigates ‘challenging’ U.S. environment
MONTREAL - Cogeco Inc. reported a profit of $81.5 million during its fourth quarter, compared with a profit of $76.2 million during the same period a year earlier.
Winnipeg Free Press
Cogeco reports $81.5M Q4 profit as company navigates 'challenging' U.S. environment
MONTREAL - Cogeco Inc. reported a profit of $81.5 million during its fourth quarter, compared with a profit of $76.2 million during the same period a year earlier.
Cogeco announced a profit of 81.5 million in its fourth quarter, up from 76.2 million in the same period last year.
Cogeco’s US Losses Linger as Streaming TV Product Debuts
Cogeco’s US cable business is still losing customers, and the company’s answer now includes a TV streaming product launched in the US, along with wireless, a new digital brand, and new sales channels. Canada is growing, while its radio group saw revenue fall nearly 19%, and the fiscal 2027 outlook points to lower overall.
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