Rogers Communications' (RCI) second-quarter 2024 results reflect a decline in Cable revenues.
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Rogers Communications Inc. (NYSE:RCI ) Q2 2024 Earnings Conference Call July 24, 2024 8:00 AM ET Company Participants David Naccarato - Director of IR Anthony Staffieri - President and CEO Glenn Brandt - CFO Conference Call Participants Drew McReynolds - RBC Vince Valentini - TD Cowen Maher Yaghi - Scotiabank Matthew Griffiths - Bank of America Stephanie Price - CIBC Tim Casey - BMO Batya Levi - UBS Jerome Dubreuil - Desjardins Aravinda Galappatthige - Canaccord Genuity David McFadgen - Cormark Securities Operator Thank you for standing by. This is the conference operator.
The headline numbers for Rogers Communication (RCI) give insight into how the company performed in the quarter ended June 2024, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.
Rogers Communication (RCI) came out with quarterly earnings of $0.85 per share, beating the Zacks Consensus Estimate of $0.83 per share. This compares to earnings of $0.76 per share a year ago.
Rogers Communication (RCI) has an impressive earnings surprise history and currently possesses the right combination of the two key ingredients for a likely beat in its next quarterly report.
Rogers Communication (RCI) possesses the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
RCI Hospitality stock has dropped 30% due to falling same-store sales. The stock is now priced at under $44 per share, with a 12.22x multiple to annualized fiscal 2024 second-quarter EPS. RICK recorded second-quarter revenue of $72.28 million, up 1.1% year-over-year, with its multiple to sales now at its lowest level since 2021.
RCI Hospitality's short-term growth outlook has weakened with a continued bad Bombshells performance and weaker same-store sales in nightclubs. The company's continued aggressive location development and acquisitions, and initiated Bombshells improvements still reflect great mid-term revenue and earnings growth potential. The weaker stock price reflects short-term weakness, but as the long-term growth story stands nearly as strong, the valuation has become attractive.
Rogers Communication (RCI) signs multi-year deals with NBCUniversal and Warner Bros. Discovery, which are expected to aid long-term prospects.
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