Rogers Communications Inc. (NYSE:RCI) Q4 2022 Earnings Call Transcript

Glenn Brandt: And then David on roaming succinctly, we’re running about 85% of roaming volume relative to 2019 pre-COVID levels. And we’re sitting at, we’ve ticked up to about 140%, revenue comparatively against 2019, pre-COVID, revenue, volumes or revenue. So we’ve seen that tick up from Q2 and Q3. Travel remains ongoing. And so we’re through, largely through that cycle of getting back to where we were maybe a little bit more room. But on in terms of volume, but we’ve ticked up a little bit. I would anticipate that roaming revenue to temper a little bit, you’re not going to see that necessarily grow much more than where we’re sitting other than filling in the rest of that volume.

David McFadgen: Well, maybe I can just use that. Just to follow up on that, because I’m just wondering how you explain your roaming metrics, like 85% of volume 140% of revenue. When you look at, they announced today that their volumes flat versus pre-COVID, in the revenues, so you’re grabbing up substantially more than theirs, and you’re volumes lower, which implies you have some more upside on roaming, how do you explain that I’m just wanting to get your comments on that.

Tony Staffieri: So without getting inside their numbers, I can’t, I got to reserve my response to mine. I’m confident in where we are. These are rough rules of thumb. The 85%, from month to month, maybe it’s 5 or 10 different here and there, there might be a little bit of rounding. I think generally, you can see it in the airports, the airports are busy. Travel is back Business travel is lighter than it had been previously. Consumer travels probably a little bit heavier business travel a little bit lighter than where we were going through COVID. If airports are able to get their flow sorted out, I think you’ll see continued growth in travel. We’re coming up on March break, it’ll be interesting to see what those volumes are. I think let me just respond by saying the roaming growth is relatively mature relative to where we were two years ago, one year ago.

And so we’ve seen some sequential growth from Q2 and Q3 into Q4. We’ve ticked up to 140 versus 130. Great. I think if we hold that growing a little bit as more business travel comes back there’s still room for a little bit of growth. And it’ll be what it’ll be. I’ll pause there.

Tony Staffieri: Thanks, everyone, for joining us today. And if there’s any follow up, please feel free to reach out to us. Thank you.

Operator: This concludes today’s conference call. You may disconnect your lines. Thank you for participating and have a pleasant day.