Cogeco Communications Inc. (TSX: CCA) shared Wednesday its financial results for the fiscal third quarter ending on May 31, 2021. The company posted $624.3 million in revenue, up 3.1% from last year’s $605.8 million.
The communications firm, known as Cogeco Connexion in Canada and Atlantic Broadband in the US, relayed that the increase in revenue can be attributed to acquisitions conducted in Canada and a growing customer base in the US.
The DERYtelecom acquisition completed on December 14, 2020 improved the revenues in Canada although it was partly offset by a $4.6 million adjustment following Canadian Radio-television and Telecommunications decision on wholesale internet rates.
The company ended the quarter with a $95.7 million net profit, a 5.4% increase from last year’s $90.8 million. The quarterly profit translates to $2.02 earnings per share.
Excluding certain one-time expenses, the company’s adjusted EBITDA for the quarter was $297.0 million, up from last year’s $294.7 million.
Cogeco Communications also had $132.1 million in free cash flow at the end of fiscal Q3 2021 compared to Q2 2021’s $116.2 million.
Full details of the financial results can be viewed here.
Cogeco Communications last traded at $121.90 on the TSX.
Information for this briefing was found via Sedar and Cogeco Communications. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.