LONDON, UK / ACCESSWIRE / January 19, 2018 / Active-Investors.com has just released a free earnings report on Shaw Communications Inc. (NYSE: SJR). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=SJR. Shaw Communications reported its first quarter fiscal 2018 operating and financial results on January 11, 2018. The communications and media Company's top- and bottom-line numbers fell short of market expectations. Register today and get access to over 1,000 Free Research Reports by joining our site below:
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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Shaw Communications most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
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Earnings Highlights and Summary
For the quarter ended November 30, 2017. Shaw Communications' consolidated revenue increased 2.7% to C$1.25 billion compared to C$1.22 billion in Q1 FY17, driven by continued strong performance in Wireless, Consumer Internet and Business. The Company's reported numbers fell short of analysts' estimates by C$10 million.
During Q1 FY18, Shaw Communications' operating income fell 4.6% to C$481 million compared to C$504 million in Q1 FY17. The Company's operating margin for the reported quarter fell 2.9 points to 38.5% compared to 41.4% in the year ago same period.
Shaw Communications' net income was C$114 million, or C$0.22 per share, for Q1 FY18 compared to C$89 million, or C$0.18 per diluted share, in Q1 FY17. The increase in earnings reflected a prior period non-operating loss partially offset by lower operating income from continuing operations and higher income taxes in the reported quarter. The Company's earnings lagged behind Wall Street's estimates of C$0.06 per share.
Operating Results
During Q1 FY18, Shaw Communications' Wireless revenue and operating income before restructuring costs and amortization of C$175 million and C$35 million improved 26.8% and 16.7% respectively on a y-o-y basis. The improvement in Wireless results was primarily attributed to an increase of approximately 130,000 subscribers in the past year to nearly 1.2 million at the end of the reported quarter.
In Q1 FY18, Shaw Communications added approximately 34,000 Wireless subscribers, a significant increase from the 9,500 net additions achieved in Q1 FY17. The increase in the customer base reflected the ongoing execution of the Company's wireless growth strategy to improve the network and customer experience.
For Q1 FY18, Shaw Communications' Wireline revenue and operating income before restructuring costs and amortization of C$1.08 billion and C$446 million decreased 0.4% and 5.9%, respectively. The y-o-y decline in Wireline results was driven primarily by Consumer video flow through of promotions that were initiated in H2 FY17. The reported quarter also reflected increased levels of planned corporate costs relative to the comparable period.
In the reported quarter, Shaw Business posted revenue of C$140 million, representing a 6.1% y-o-y improvement. Growth in Business was primarily related to market share gains in the small and medium-sized businesses driven by the Smart suite of products, now including Smart Surveillance which launched in December 2017.
Shaw Communications' Wireline subscribers declined by approximately 34,000 in Q1 FY18 compared to a loss of approximately 30,000 in Q1 FY17. The Company noted that continued strong Internet gains of over 17,000 in the period were more than offset by video, phone, and higher seasonal satellite losses.
Cash Matters
Shaw Communications' free cash flow for Q1 FY18 was C$51 million, compared to C$158 million in Q1 FY17. The decrease in free cash flow in the reported quarter was largely due to planned higher capital spending and lower operating income before restructuring costs and amortization.
Stock Performance Snapshot
January 18, 2018 - At Thursday's closing bell, Shaw Communications' stock slightly fell 0.41%, ending the trading session at $21.65.
Volume traded for the day: 519.38 thousand shares.
Stock performance in the past twelve-month period – up 3.64%
After yesterday's close, Shaw Communications' market cap was at $10.81 billion.
Price to Earnings (P/E) ratio was at 24.19.
The stock has a dividend yield of 4.30%.
The stock is part of the Services sector, categorized under the CATV Systems industry. This sector was up 0.1% at the end of the session.
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