Cogeco’s U.S. operations saw improvement with Breezeline delivering its best metrics in 15 quarters. However, revenue and adjusted EBITDA declined in Q1. Meanwhile, Cogeco Connexion in Canada reported stable revenue and a 2% increase in adjusted EBITDA, with modest growth expected. Overall, consolidated revenue fell by 4.9%, while adjusted EBITDA declined by 3.7%.

President and CEO Frédéric Perron highlighted the positive turnaround in Cogeco’s U.S. operations, pointing to improved subscriber trends. In Canada, performance was described as solid and resilient, with continued customer growth. The company plans to focus on growing its customer base across the U.S. and expanding its network capabilities.

Cogeco Connexion in Canada reported stable revenue and a 2% increase in adjusted EBITDA, driven by cost reduction initiatives and operating efficiencies. The company added 1,100 homes passed under a network expansion program, mainly focusing on fiber to the home. Wireless sales in Canada exceeded expectations, with subscriber growth going well.

In the U.S., Breezeline’s revenue declined due to a competitive pricing environment. However, there was a significant improvement in internet subscribers, particularly in Ohio. Adjusted EBITDA in the U.S. declined due to lower revenue but was partially offset by cost reductions and efficiencies. Management expects meaningful improvement in the second half of fiscal 2026.

Cogeco Communications reported a decline in revenue and adjusted EBITDA, with U.S. declines offset by growth in Canada. Capital intensity increased slightly, but the company remains on track with its capital spending guidance. Net debt to EBITDA was at 3.2 turns, and the quarterly dividend was raised by 7% to CAD 0.987 per share.

Cogeco Inc. saw a decrease in revenue and adjusted EBITDA, reflecting Cogeco Communications’ results. Media operations revenue increased due to growth in digital advertising solutions. Management maintained the fiscal 2026 financial guidelines and expects a decline in revenue and EBITDA in Q2, with stronger U.S. financial performance in the second half.

Read more at Yahoo Finance: Cogeco Q1 Earnings Call Highlights