Shaw Communications Affirms FY20 Guidance - Quick Facts

(RTTNews) - Shaw Communications Inc. (SJR), a Canadian connectivity company, said it continues to project fiscal 2020 adjusted EBITDA in a range of 11% to 12%. Excluding IFRS 16, adjusted EBITDA is expected to rise 4% to 5%. Free cash flow is projected to be approximately C$700 million.

Brad Shaw, CEO, said: "Our focus on the execution of our strategy, including the stabilization of our Wireline business and capitalizing on growth opportunities within our Wireless and Shaw Business segments, has resulted in a solid start in the first quarter and we remain on track to meet our fiscal 2020 commitments."

For the first-quarter, earnings per share was C$0.31 compared to C$0.36, previous year. On average, 8 analysts polled by Thomson Reuters expected the company to report profit per share of C$0.33 for the quarter. Analysts' estimates typically exclude special items. Adjusted EBITDA increased 8.1% year-over-year to C$588 million. Excluding the impact from IFRS 16, adjusted EBITDA growth was approximately 1.1%, for the quarter.

First-quarter consolidated revenue increased by 2.1% to C$1.38 billion. Analysts expected revenue of C$1.38 billion for the quarter. The company's wireless subscriber base is now over 1.7 million customers, including approximately 67,000 postpaid net additions in the first quarter.