Shaw Communications Registers 1.2% Revenue Growth In Q1

• Shaw Communications Inc (NYSE:SJR) reported first-quarter FY22 revenue growth of 1.2% year-on-year to C$1.39 billion.
• EPS was C$0.39 versus C$0.31 last year.
• Adjusted EBITDA improved 4.3% to C$633 million, and the margin expanded by 140 bps to 45.7%.
• Wireline revenue was C$1.06 billion in-line with the prior year, and Wireless revenue increased 4.7% Y/Y to C$332 million.
• The Wireless postpaid churn of 1.70% improved 11 bps compared to last year.
• The company added ~55,600 new Wireless customers. The continued momentum of Shaw Mobile drove postpaid net additions of ~36,100 in the quarter.
• The quarter's free cash flow stood at C$236 million compared to C$225 million in the prior year.
• Shaw Communications' net debt leverage ratio was 2.2x at the end of November 30, 2021.
• The company registered Wireless ARPU of C$36.95, a decrease of 3.4% Y/Y, and ABPU of C$38.67, a reduction of 9.4% Y/Y.
• Price Action: SJR shares are trading higher by 0.30% at $30.32 on the last check Wednesday.