Rogers Communications (RCI) Q4 2022 Earnings Call Transcript

For the period ending December 31, 2022

February 2, 2023 8:00 a.m. ET

Prepared Remarks

Questions and Answers

Call Participants

Prepared Remarks:

Operator

Thank you for standing by. This is the conference operator. Welcome to the Rogers Communications Inc. Fourth Quarter 2022 Results Conference Call. As a reminder, all participants are in listen-only mode and the conference is being recorded. [Operator Instructions]

I would now like to turn the conference over to Paul Carpino, Vice President of Investor Relations with Rogers Communications. Please go ahead, Mr. Carpino.

Paul Carpino

Thank you, Ariel, and good morning, everyone, and thank you for joining us. Today, I’m here with our President and Chief Executive Officer, Tony Staffieri; and our Chief Financial Officer, Glenn Brandt.

Our call today will include estimates and other forward-looking information from which our actual results could differ. Please review the cautionary language in today’s earnings report and in our 2021 annual report regarding the various factors, assumptions and risks that could cause our actual results to differ.

With that, let me turn the call over to Tony to begin.

Tony Staffieri

Thank you, Paul and good morning, everyone. Thank you for joining us on this busy morning. When I stepped into the CEO role, one year ago, our performance had been lagging our peers and we had lost our leadership footing. Last year we set a clear plan to reestablish our leadership position and to deliver sustained strong results. This included a renewed focus on the fundamentals and a significant improvement in execution.

In short, we set a plan to turn around our performance. 12 short months I am pleased to share we made significant progress and we did it with a backdrop of a lingering pandemic and new executive team and one of the largest proposed mergers in Canadian history. Despite these challenges, we did not get distracted. And we remain focused on driving better execution across our entire business. As a team, we made tremendous strides. But we have much more opportunity in front of us.

I have to say I am pleased with the speed and magnitude of our turnaround. Across critical valuation metrics such as financial growth, and customer share gains we went from consistently ranking second or third against our competitors over the past few years to now ranking first on the vast majority of these important metrics throughout the year. Our turnaround wasn’t about coming out of a pandemic. It was about instilling a performance based culture focused on our customers returning to growth and outperforming the market.