Rogers Communications, Inc. (NYSE:RCI) Q1 2024 Earnings Conference Call April 24, 2024 8:00 AM ET
Company Participants
Paul Carpino - VP, IR
Anthony Staffieri - President, CEO & Director
Glenn Brandt - CFO
Conference Call Participants
Sebastiano Petti - JPMorgan Chase & Co.
Vince Valentini - TD Cowen
Maher Yaghi - Scotiabank
Jerome Dubreuil - Desjardins Securities
Batya Levi - UBS
Tim Casey - BMO Capital Markets
Stephanie Price - CIBC
Matthew Griffiths - Bank of America Merrill Lynch
Aravinda Galappatthige - Canaccord Genuity
Operator
Thank you for standing by. This is the conference operator. Welcome to the Rogers Communications Inc. First Quarter 2024 Results Conference Call. [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.
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.
Today's discussion 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 2023 Annual Report regarding the various factors, assumptions and risks that could cause our actual results to differ.
As a reminder, we will be holding our annual meeting this morning at 11 a.m., and we will be concluding this call at approximately 8:50. We'd ask that you keep your questions limited to one question and a brief follow-up, if necessary, so we can get as many questions as possible. To view the webcast of our AGM, a link can be accessed through the Investor Relations portion of our website.
With that, let me turn it to Tony to begin.
Anthony Staffieri
Thank you, Paul, and good morning, everyone. I'm pleased to report that Rogers delivered another strong quarter of growth in the first quarter of 2024. This reflects the ninth straight quarter of momentum for the company.
Looking at the first quarter, we executed our game plan with discipline and focus. We delivered industry-leading results and made record investments to drive growth, improve efficiencies and lead the industry.
In Q1, we grew total service revenue by 31% and adjusted EBITDA by 34%. We reaffirmed our industry-leading financial guidance for the year, and we invested $1.1 billion in capital across our Cable and Wireless networks. All in all, a very productive first quarter.