Connect with us

Technology

Cogeco Communications Releases its Financial Results for the Fourth Quarter of Fiscal 2024

Published

2 years ago

on

Strong progress on the strategic priorities announced last quarter centered on synergies, digitization, advanced analytics, network expansion and wireless.Successfully completed the combination of our Canadian and U.S. telecommunications teams.Signed strategic partnerships to enable an upcoming launch of wireless services in Canada, in a capital-efficient manner as an MVNO.Met or exceeded all financial guidelines set for fiscal 2024; issuing fiscal 2025 financial guidelines.Increasing quarterly eligible dividend by 8.0% to $0.922 per share.

MONTRÉAL, Oct. 31, 2024 /CNW/ – Today, Cogeco Communications Inc. (TSX: CCA) (“Cogeco Communications” or the “Corporation”) announced its financial results for the fourth quarter ended August 31, 2024 and is issuing its fiscal 2025 financial guidelines.

“Fiscal 2024 has been a year of tremendous progress for Cogeco,” said Frédéric Perron, President and CEO. “Over the last six months alone, we set clear priorities to achieve sustainable growth, launched wireless in the U.S., assembled the building blocks to launch wireless in Canada as an MVNO, successfully combined our Canadian and U.S. organizations and refreshed our executive team. The recently completed restructuring, which simplified our operating model, was the first phase of a structured three-year program. We are now in a position to accelerate our digital capabilities, drive bundling across wireline and wireless, and continue to optimize our operations for ongoing growth and value creation.

“Our Canadian telecommunications business continued to perform well in Q4, driven by growth of our Internet subscriber base through Cogeco Connexion, oxio, and our network expansion program. We’re particularly excited about our oxio brand’s performance as its digital model has not only become a growth engine for the organization, but has also become a model for key transformation initiatives within the Corporation more broadly.

“In the U.S., the launch of Breezeline Mobile provides customers even more compelling reasons to bundle their services with us. Our Internet-led strategy and focus on operational efficiency contributed to another quarter of strong margin growth.

“Over the past year, we have maintained our balanced approach to allocating capital to growth initiatives including network expansion, product improvements, and a capital-light approach to growing wireless services in both countries, as well as returning capital through an increased dividend and share buybacks, all while progressively reducing our leverage. We will continue with our balanced approach in fiscal 2025 and with that, we are delighted to announce an increase in our quarterly dividend per share to $0.922.”

Consolidated Financial Highlights

 

Three months ended August 31

2024

2023

(1)

Change

Change in

constant
currency

(2)

(In thousands of Canadian dollars, except % and per share data) (unaudited)

$

$

%

%

Revenue

747,751

743,397

0.6

(0.7)

Adjusted EBITDA (2)

370,418

351,300

5.4

4.2

Adjusted EBITDA margin (2)

49.5 %

47.3 %

Profit for the period

85,484

91,797

(6.9)

Profit for the period attributable to owners of the Corporation

81,958

86,499

(5.2)

Adjusted profit attributable to owners of the Corporation (2)(3)

99,054

97,175

1.9

Cash flows from operating activities

319,177

281,326

13.5

Free cash flow (1)(2)

148,189

88,953

66.6

66.1

Free cash flow, excluding network expansion projects (1)(2)

205,100

121,881

68.3

67.4

Acquisition of property, plant and equipment

154,260

205,570

(25.0)

Net capital expenditures (2)(4)

152,253

176,617

(13.8)

(15.1)

Net capital expenditures, excluding network expansion projects (2)

95,342

143,689

(33.6)

(34.8)

Capital intensity (2)

20.4 %

23.8 %

Capital intensity, excluding network expansion projects (2)

12.8 %

19.3 %

Diluted earnings per share

1.94

1.95

(0.5)

Adjusted diluted earnings per share (2)(3)

2.35

2.19

7.3

Operating results

For the fourth quarter of fiscal 2024 ended on August 31, 2024:

Revenue increased by 0.6% to $747.8 million. On a constant currency basis(2), revenue decreased by 0.7% due to a decline in revenue in the American telecommunications segment, offset in part by revenue growth in the Canadian telecommunications segment, as explained below.American telecommunications’ revenue decreased by 2.3% in constant currency (remained stable as reported), mainly due to a decline in its subscriber base, especially for entry-level services, and a higher proportion of customers subscribing to Internet-only services. The decline was offset in part by higher revenue per subscriber and a better product mix resulting from improving subscriber metrics.Canadian telecommunications’ revenue increased by 0.8%, mostly driven by the cumulative effect of high-speed Internet service additions over the past year, including from network expansion projects, as well as the Niagara Regional Broadband Network acquisition completed on February 5, 2024.Adjusted EBITDA increased by 5.4% to $370.4 million. On a constant currency basis, adjusted EBITDA increased by 4.2%, mainly due to higher adjusted EBITDA in both the Canadian and American telecommunications segments, driven by cost reduction initiatives and operating efficiencies across the Corporation as a result of our ongoing transformation program, in addition to revenue growth in the Canadian telecommunications segment.Canadian telecommunications adjusted EBITDA increased by 3.8%, or 4.0% in constant currency.American telecommunications adjusted EBITDA increased by 5.2%, or 2.4% in constant currency.Profit for the period amounted to $85.5 million, of which $82.0 million, or $1.94 per diluted share, was attributable to owners of the Corporation compared to $91.8 million, $86.5 million, and $1.95 per diluted share, respectively, in the comparable period of fiscal 2023. The decreases in profit for the period and profit attributable to owners of the Corporation resulted mainly from higher depreciation and amortization expense and non-cash pre-tax impairment charges of $14.9 million recognized during the quarter mostly in relation to strategic partnerships to facilitate the development of wireless services in Canada under a capital-light operating model, partly offset by higher adjusted EBITDA, lower financial expense and lower acquisition, integration, restructuring and other costs.Adjusted profit attributable to owners of the Corporation(3) was $99.1 million, or $2.35 per diluted share(3), compared to $97.2 million, or $2.19 per diluted share, last year. The increase of adjusted diluted earnings per share over last year reflects the benefit of the Corporation’s share buybacks.Net capital expenditures were $152.3 million, a decrease of 13.8% compared to $176.6 million in the same period of the prior year. In constant currency, net capital expenditures(2) were $150.0 million, a decrease of 15.1% compared to last year, mainly resulting from lower spending due to the timing of network expansion projects in both the American and Canadian telecommunications segments, in addition to drawdowns of previously accumulated customer premise equipment inventory in the American telecommunications segment.Excluding network expansion projects, net capital expenditures were $95.3 million, a decrease of 33.6% compared to $143.7 million in the same period of the prior year. In constant currency, net capital expenditures, excluding network expansion projects(2) were $93.7 million, a decrease of 34.8% compared to last year.Fibre-to-the-home network expansion projects continued in both Canada and the United States by adding close to 58,000(5) homes passed during fiscal 2024, of which close to 14,000(5) were in the fourth quarter.Capital intensity was 20.4% compared to 23.8% last year. Excluding network expansion projects, capital intensity was 12.8% compared to 19.3% in the same period of the prior year.Acquisition of property, plant and equipment decreased by 25.0% to $154.3 million, mainly resulting from lower spending.Free cash flow(1) increased by 66.6%, or 66.1% in constant currency, and amounted to $148.2 million, or $147.7 million in constant currency, mainly due to lower net capital expenditures, higher adjusted EBITDA and lower financial expense. Free cash flow, excluding network expansion projects(1) increased by 68.3%, or 67.4% in constant currency, and amounted to $205.1 million, or $204.1 million in constant currency.Cash flows from operating activities increased by 13.5% to $319.2 million, mainly from the timing of payments of trade and other payables and higher adjusted EBITDA.At its October 31, 2024 meeting, the Board of Directors of Cogeco Communications declared a quarterly eligible dividend of $0.922 per share, an increase of 8.0% compared to $0.854 per share last year.

FISCAL 2025 FINANCIAL GUIDELINES

Cogeco Communications released its fiscal 2025 financial guidelines. Fiscal 2025 will be the first year of a three-year transformation program, where investments are made in order to set the Corporation on a path to sustainable growth. On a constant currency basis, the Corporation expects fiscal 2025 revenue to remain stable resulting from a combination of Internet subscriber growth and a decline in video and wireline phone subscriptions. On a constant currency basis, fiscal 2025 adjusted EBITDA is anticipated to remain stable, mainly due to stable revenue as well as stable operating expenses, which are anticipated to benefit from the recent corporate reorganization and other operational improvements, offset by investments into new capabilities as part of a three-year transformation program. Net capital expenditures are anticipated to be between $650 and $725 million, including net investments of approximately $140 to $190 million in growth-oriented network expansions, which will increase the Corporation’s footprint in Canada and the United States. Capital intensity is expected to range between 22% and 24%, or 17% and 19% excluding network expansion projects. Free cash flow and free cash flow, excluding network expansion projects, are expected to decrease between 0% and 10% due to stronger than anticipated free cash flow in fiscal 2024, continued growth-oriented investments, and higher financial expense and current income tax.

October 31, 2024

Projections

(i)

Actual

Fiscal 2025

(constant currency)

(ii)

Fiscal 2024

(In millions of Canadian dollars, except percentages)

$

$

Financial guidelines

Revenue

Stable

2,977

Adjusted EBITDA

Stable

1,442

Net capital expenditures

$650 to $725

638

Net capital expenditures in connection with network expansion projects

$140 to $190

137

Capital intensity

22% to 24%

21.4 %

Capital intensity, excluding network expansion projects

17% to 19%

16.8 %

Free cash flow

Decrease of 0% to 10%

(iii)

476

Free cash flow, excluding network expansion projects

Decrease of 0% to 10%

(iii)

613

(i)

Percentage of changes compared to fiscal 2024.

(ii)

Fiscal 2025 financial guidelines are based on a USD/CDN constant exchange rate of 1.3606 USD/CDN.

(iii)

The assumed current income tax effective rate is approximately 14%.

These financial guidelines, including the various assumptions underlying them, contain forward-looking statements concerning the business outlook for Cogeco Communications, and should be read in conjunction with the “Forward-looking statements” section of this press release.

(1)

During the fourth quarter of fiscal 2024, the Corporation updated its calculation of free cash flow and free cash flow, excluding network expansion projects, to include proceeds on disposals of property, plant and equipment. Comparative figures were restated to conform to the current presentation. For further details, please refer to the “Non-IFRS Accounting Standards and other financial measures” section of this press release.

(2)

Adjusted EBITDA and net capital expenditures are total of segments measures. Adjusted EBITDA margin and capital intensity are supplementary financial measures. Constant currency basis, adjusted profit attributable to owners of the Corporation, net capital expenditures, excluding network expansion projects, free cash flow and free cash flow, excluding network expansion projects are non-IFRS Accounting Standards measures. Change in constant currency, capital intensity, excluding network expansion projects and adjusted diluted earnings per share are non-IFRS Accounting Standards ratios. These indicated terms do not have standardized definitions prescribed by IFRS® Accounting Standards, as issued by the International Accounting Standards Board (“IFRS Accounting Standards”) and therefore, may not be comparable to similar measures presented by other companies. For more information on these financial measures, please consult the “Non-IFRS Accounting Standards and other financial measures” section of this press release.

(3)

Excludes the impact of non-cash impairment charges, and acquisition, integration, restructuring and other costs, net of tax and non-controlling interest.

(4)

Net capital expenditures exclude non-cash acquisitions of right-of-use assets and the purchases, and related borrowing costs, of spectrum licences, and are presented net of government subsidies, including the utilization of those received in advance.

(5)

Organic growth calculated by excluding additions resulting from acquisitions.

Financial highlights

Change in

constant
currency

Change in

constant
currency

Three months and years ended August 31

2024

2023

(1)

Change

(2)  (3)

2024

2023

(1)

Change

(2)  (3)

(In thousands of Canadian dollars, except % and per share data)

$

$

%

%

$

$

%

%

Operations

Revenue

747,751

743,397

0.6

(0.7)

2,976,524

2,984,128

(0.3)

(0.8)

Adjusted EBITDA (3)

370,418

351,300

5.4

4.2

1,442,314

1,421,066

1.5

1.0

Adjusted EBITDA margin (3)

49.5 %

47.3 %

48.5 %

47.6 %

Acquisition, integration, restructuring and other costs (4)

10,561

15,228

(30.6)

59,731

36,225

64.9

Impairment of property, plant and equipment

14,862

—

—

14,862

—

—

Profit for the period

85,484

91,797

(6.9)

354,132

417,972

(15.3)

Profit for the period attributable to owners of the Corporation

81,958

86,499

(5.2)

335,534

392,273

(14.5)

Adjusted profit attributable to owners of the Corporation (3)(5)

99,054

97,175

1.9

400,431

417,960

(4.2)

Cash flow

Cash flows from operating activities

319,177

281,326

13.5

1,175,219

962,905

22.0

Free cash flow (1)(3)

148,189

88,953

66.6

66.1

476,021

418,056

13.9

13.6

Free cash flow, excluding network expansion projects (1)(3)

205,100

121,881

68.3

67.4

613,415

590,891

3.8

3.5

Acquisition of property, plant and equipment

154,260

205,570

(25.0)

659,090

802,830

(17.9)

Net capital expenditures (3)(6)

152,253

176,617

(13.8)

(15.1)

637,833

699,506

(8.8)

(9.3)

Net capital expenditures, excluding network expansion projects (3)

95,342

143,689

(33.6)

(34.8)

500,439

526,671

(5.0)

(5.5)

Capital intensity (3)

20.4 %

23.8 %

21.4 %

23.4 %

Capital intensity, excluding network expansion projects (3)

12.8 %

19.3 %

16.8 %

17.6 %

Per share data (7)

Earnings per share

Basic

1.95

1.95

—

7.87

8.78

(10.4)

Diluted

1.94

1.95

(0.5)

7.83

8.75

(10.5)

Adjusted diluted (3)(5)

2.35

2.19

7.3

9.35

9.32

0.3

Dividends per share

0.854

0.776

10.1

3.416

3.104

10.1

(1)

During the fourth quarter of fiscal 2024, the Corporation updated its calculation of free cash flow and free cash flow, excluding network expansion projects, to include proceeds on disposals of property, plant and equipment. Proceeds on disposals of property, plant and equipment amounted to $0.6 million and $3.4 million for the three-month period and year ended August 31, 2024, respectively ($1.0 million and $2.7 million, respectively, in fiscal 2023). Comparative figures were restated to conform to the current presentation. For further details, please refer to the “Non-IFRS Accounting Standards and other financial measures” section of this press release.

(2)

Key performance indicators presented on a constant currency basis are obtained by translating financial results from the current periods denominated in US dollars at the foreign exchange rate of the comparable periods of the prior year. For the three-month period and year ended August 31, 2023, the average foreign exchange rates used for translation were 1.3329 USD/CDN and 1.3467 USD/CDN, respectively.

(3)

Adjusted EBITDA and net capital expenditures are total of segments measures. Adjusted EBITDA margin and capital intensity are supplementary financial measures. Adjusted profit attributable to owners of the Corporation, free cash flow, free cash flow, excluding network expansion projects and net capital expenditures, excluding network expansion projects are non-IFRS Accounting Standards measures. Change in constant currency, capital intensity, excluding network expansion projects and adjusted diluted earnings per share are non-IFRS Accounting Standards ratios. These indicated terms do not have standardized definitions prescribed by IFRS Accounting Standards and therefore, may not be comparable to similar measures presented by other companies. For more information on these financial measures, please consult the “Non-IFRS Accounting Standards and other financial measures” section of this press release.

(4)

For the three-month period and year ended August 31, 2024, acquisition, integration, restructuring and other costs were mostly related to restructuring costs recognized during the second half of the year, including costs related to the new organizational structure announced in May 2024 and other cost optimization initiatives. For the three-month period and year ended August 31, 2023, acquisition, integration, restructuring and other costs resulted mostly from costs related to the integration of past acquisitions, as well as acquisition and integration costs incurred in connection with the acquisition of oxio, completed on March 3, 2023, from restructuring costs associated with organizational changes during the fourth quarter of fiscal 2023 within the Canadian and the American telecommunications segments and from configuration and customization costs related to cloud computing arrangements. Furthermore, a retroactive adjustment of $8.4 million was recognized in fiscal 2023 following the Copyright Board preliminary conclusions on the redetermination of the 2014-2018 royalty rates, of which $4.2 million was reversed during the second quarter of fiscal 2024 following the Copyright Board decision issued in January 2024.

(5)

Excludes the impact of non-cash impairment charges, acquisition, integration, restructuring and other costs, and gains/losses on debt modification and/or extinguishment, all net of tax and non-controlling interest.

(6)

Net capital expenditures exclude non-cash acquisitions of right-of-use assets and the purchases, and related borrowing costs, of spectrum licences, and are presented net of government subsidies, including the utilization of those received in advance.

(7)

Per multiple and subordinate voting share.

As at

August 31, 2024

August 31, 2023

(In thousands of Canadian dollars, except %)

$

$

Financial condition

Cash and cash equivalents

76,335

362,921

Total assets

9,675,009

9,768,370

Long-term debt

Current

361,808

41,765

Non-current

4,448,261

4,979,241

Net indebtedness (1)

4,803,629

4,749,214

Equity attributable to owners of the Corporation

2,979,691

2,957,797

Return on equity (2)

11.3 %

13.7 %

(1)

Net indebtedness is a capital management measure. For more information on this financial measure, please consult the “Non-IFRS Accounting Standards and other financial measures” section of the Corporation’s MD&A for the year ended August 31, 2024, available on SEDAR+ at www.sedarplus.ca.

(2)

Return on equity is a supplementary financial measure and is calculated as profit attributable to owners of the Corporation for the year divided by the average of the equity attributable to owners of the Corporation for the year.

Forward-looking statements

Certain statements contained in this press release may constitute forward-looking information within the meaning of securities laws. Forward-looking information may relate to Cogeco Communications Inc.’s (“Cogeco Communications” or the “Corporation”) future outlook and anticipated events, business, operations, financial performance, financial condition or results and, in some cases, can be identified by terminology such as “may”; “will”; “should”; “expect”; “plan”; “anticipate”; “believe”; “intend”; “estimate”; “predict”; “potential”; “continue”; “foresee”, “ensure” or other similar expressions concerning matters that are not historical facts. Particularly, statements relating to the Corporation’s financial guidelines, future operating results and economic performance, objectives and strategies are forward-looking statements. These statements are based on certain factors and assumptions including expected growth, results of operations, purchase price allocation, tax rates, weighted average cost of capital, performance and business prospects and opportunities, which Cogeco Communications believes are reasonable as of the current date. Refer in particular to the “Corporate objectives and strategy” and “Fiscal 2025 financial guidelines” sections of the Corporation’s Fiscal 2024 annual Management’s Discussion and Analysis (“MD&A”) for a discussion of certain key economic, market and operational assumptions we have made in preparing forward-looking statements. While management considers these assumptions to be reasonable based on information currently available to the Corporation, they may prove to be incorrect. Forward-looking information is also subject to certain factors, including risks and uncertainties that could cause actual results to differ materially from what Cogeco Communications currently expects. These factors include risks such as general market conditions, competitive risks (including changing competitive and technology ecosystems and disruptive competitive strategies adopted by our competitors), business risks, regulatory risks, tax risks, technology risks (including cybersecurity), financial risks (including variations in currency and interest rates), economic conditions (including inflation pressuring revenue, reduced consumer spending and increasing costs), talent management risks (including the highly competitive market for a limited pool of digitally skilled employees), human-caused and natural threats to the Corporation’s network (including increased frequency of extreme weather events with the potential to disrupt operations), infrastructure and systems, sustainability and sustainability reporting risks, ethical behavior risks, ownership risks, litigation risks and public health and safety, many of which are beyond the Corporation’s control. For more exhaustive information on these risks and uncertainties, the reader should refer to the “Uncertainties and main risk factors” section of the Corporation’s Fiscal 2024 annual MD&A. These factors are not intended to represent a complete list of the factors that could affect Cogeco Communications and future events and results may vary significantly from what management currently foresees. The reader should not place undue importance on forward-looking information contained in this press release and the forward-looking statements contained in this press release represent Cogeco Communications’ expectations as of the date of this press release (or as of the date they are otherwise stated to be made) and are subject to change after such date. While management may elect to do so, the Corporation is under no obligation (and expressly disclaims any such obligation) and does not undertake to update or alter this information at any particular time, whether as a result of new information, future events or otherwise, except as required by law.

All amounts are stated in Canadian dollars unless otherwise indicated. This press release should be read in conjunction with the MD&A included in the Corporation’s Fiscal 2024 Annual Report, the Corporation’s consolidated financial statements and the notes thereto prepared in accordance with IFRS® Accounting Standards as issued by the International Accounting Standards Board (“IFRS Accounting Standards”) for the year ended August 31, 2024.

Non-IFRS Accounting Standards and other financial measures

This press release includes references to non-IFRS Accounting Standards and other financial measures used by Cogeco Communications. These financial measures are reviewed in assessing the performance of Cogeco Communications and used in the decision-making process with regard to its business units.

Reconciliations between non-IFRS Accounting Standards and other financial measures to the most directly comparable IFRS Accounting Standards measures are provided below. Certain additional disclosures for non-IFRS Accounting Standards and other financial measures used in this press release have been incorporated by reference and can be found in the “Non-IFRS Accounting Standards and other financial measures” section of the Corporation’s MD&A for the year ended August 31, 2024, available on SEDAR+ at www.sedarplus.ca. The following non-IFRS Accounting Standards measures are used as a component of Cogeco Communications’ non-IFRS Accounting Standards ratios.

Specified non-IFRS Accounting Standards measures

Used in the component of the following non-IFRS Accounting Standards ratios

Adjusted profit attributable to owners of the Corporation

Adjusted diluted earnings per share

Constant currency basis

Change in constant currency

Net capital expenditures, excluding network expansion projects

Capital intensity, excluding network expansion projects

Financial measures presented on a constant currency basis for the three-month period and year ended August 31, 2024 are translated at the average foreign exchange rate of the comparable periods of the prior year, which were 1.3329 USD/CDN and 1.3467 USD/CDN, respectively.

Constant currency basis and foreign exchange impact reconciliation

Consolidated

Three months ended August 31

2024

2023

(1)

Change

(In thousands of Canadian dollars, except percentages)

Actual

Foreign
exchange
impact

In

constant
currency

Actual

Actual

In

constant
currency

$

$

$

$

%

%

Revenue

747,751

(9,731)

738,020

743,397

0.6

(0.7)

Operating expenses

372,095

(5,234)

366,861

388,381

(4.2)

(5.5)

Management fees – Cogeco Inc.

5,238

—

5,238

3,716

41.0

41.0

Adjusted EBITDA

370,418

(4,497)

365,921

351,300

5.4

4.2

Free cash flow (1)

148,189

(462)

147,727

88,953

66.6

66.1

Net capital expenditures

152,253

(2,254)

149,999

176,617

(13.8)

(15.1)

(1)

During the fourth quarter of fiscal 2024, the Corporation updated its free cash flow calculation to include proceeds on disposals of property, plant and equipment. Comparative figures were restated to conform to the current presentation.

 

Years ended August 31

2024

2023

(1)

Change

(In thousands of Canadian dollars, except percentages)

Actual

Foreign exchange impact

In

constant currency

Actual

Actual

In

constant currency

$

$

$

$

%

%

Revenue

2,976,524

(15,024)

2,961,500

2,984,128

(0.3)

(0.8)

Operating expenses

1,513,258

(8,121)

1,505,137

1,544,462

(2.0)

(2.5)

Management fees – Cogeco Inc.

20,952

—

20,952

18,600

12.6

12.6

Adjusted EBITDA

1,442,314

(6,903)

1,435,411

1,421,066

1.5

1.0

Free cash flow (1)

476,021

(932)

475,089

418,056

13.9

13.6

Net capital expenditures

637,833

(3,340)

634,493

699,506

(8.8)

(9.3)

(1)

During the fourth quarter of fiscal 2024, the Corporation updated its free cash flow calculation to include proceeds on disposals of property, plant and equipment. Comparative figures were restated to conform to the current presentation.

Canadian telecommunications segment

Three months ended August 31

2024

2023

Change

(In thousands of Canadian dollars, except percentages)

Actual

Foreign
exchange
impact

In

constant
currency

Actual

Actual

In

constant
currency

$

$

$

$

%

%

Revenue

378,702

—

378,702

375,754

0.8

0.8

Operating expenses

175,688

(288)

175,400

180,183

(2.5)

(2.7)

Adjusted EBITDA

203,014

288

203,302

195,571

3.8

4.0

Net capital expenditures

71,000

(245)

70,755

73,348

(3.2)

(3.5)

 

Years ended August 31

2024

2023

Change

(In thousands of Canadian dollars, except percentages)

Actual

Foreign
exchange
impact

In

constant
currency

Actual

Actual

In

constant
currency

$

$

$

$

%

%

Revenue

1,510,506

—

1,510,506

1,489,915

1.4

1.4

Operating expenses

710,706

(447)

710,259

701,717

1.3

1.2

Adjusted EBITDA

799,800

447

800,247

788,198

1.5

1.5

Net capital expenditures

356,274

(463)

355,811

354,384

0.5

0.4

American telecommunications segment

Three months ended August 31

2024

2023

Change

(In thousands of Canadian dollars, except percentages)

Actual

Foreign
exchange
impact

In

constant
currency

Actual

Actual

In

constant
currency

$

$

$

$

%

%

Revenue

369,049

(9,731)

359,318

367,643

0.4

(2.3)

Operating expenses

185,588

(4,916)

180,672

193,172

(3.9)

(6.5)

Adjusted EBITDA

183,461

(4,815)

178,646

174,471

5.2

2.4

Net capital expenditures

76,238

(2,011)

74,227

100,488

(24.1)

(26.1)

 

Years ended August 31

2024

2023

Change

(In thousands of Canadian dollars, except percentages)

Actual

Foreign
exchange
impact

In

constant
currency

Actual

Actual

In

constant
currency

$

$

$

$

%

%

Revenue

1,466,018

(15,024)

1,450,994

1,494,213

(1.9)

(2.9)

Operating expenses

759,658

(7,632)

752,026

800,409

(5.1)

(6.0)

Adjusted EBITDA

706,360

(7,392)

698,968

693,804

1.8

0.7

Net capital expenditures

267,728

(2,865)

264,863

336,910

(20.5)

(21.4)

Adjusted profit attributable to owners of the Corporation  

Three months ended August 31

Years ended August 31

2024

2023

2024

2023

(In thousands of Canadian dollars)

$

$

$

$

Profit for the period attributable to owners of the Corporation

81,958

86,499

335,534

392,273

Impairment of property, plant and equipment

14,862

—

14,862

—

Acquisition, integration, restructuring and other costs

10,561

15,228

59,731

36,225

Loss on debt extinguishment (1)

—

—

16,880

—

Tax impact for the above items

(6,648)

(3,829)

(24,109)

(9,370)

Non-controlling interest impact for the above items

(1,679)

(723)

(2,467)

(1,168)

Adjusted profit attributable to owners of the Corporation

99,054

97,175

400,431

417,960

(1)    Included within financial expense.

Free cash flow and free cash flow, excluding network expansion projects reconciliations

Three months ended August 31

Years ended August 31

2024

2023

(1)

2024

2023

(1)

(In thousands of Canadian dollars)

$

$

$

$

Cash flows from operating activities

319,177

281,326

1,175,219

962,905

Changes in other non-cash operating activities

(34,878)

(9,946)

(56,369)

97,851

Income taxes paid

6,526

2,025

5,719

91,673

Current income taxes

(553)

(5,708)

(20,147)

(32,067)

Interest paid

71,695

65,489

266,464

239,648

Financial expense

(61,925)

(70,222)

(277,690)

(251,642)

Loss on debt extinguishment (2)

—

—

16,880

—

Amortization of deferred transaction costs and discounts on long-term debt (2)

2,190

3,195

9,143

12,601

Net capital expenditures (3)

(152,253)

(176,617)

(637,833)

(699,506)

Proceeds on disposals of property, plant and equipment (1)

594

1,037

3,378

2,651

Repayment of lease liabilities

(2,384)

(1,626)

(8,743)

(6,058)

Free cash flow (1)

148,189

88,953

476,021

418,056

Net capital expenditures in connection with network expansion projects

56,911

32,928

137,394

172,835

Free cash flow, excluding network expansion projects (1)

205,100

121,881

613,415

590,891

(1)

During the fourth quarter of fiscal 2024, the Corporation updated its calculation of free cash flow and free cash flow, excluding network expansion projects, to include proceeds on disposals of property, plant and equipment. Comparative figures were restated to conform to the current presentation.

(2)

Included within financial expense.

(3)

Net capital expenditures exclude non-cash acquisitions of right-of-use assets and the purchases, and related borrowing costs, of spectrum licences, and are presented net of government subsidies, including the utilization of those received in advance.

Net capital expenditures reconciliation

Three months ended August 31

Years ended August 31

2024

2023

2024

2023

(In thousands of Canadian dollars)

$

$

$

$

Acquisition of property, plant and equipment

154,260

205,570

659,090

802,830

Subsidies received in advance recognized as a reduction of the cost of property, plant and equipment during the period

(2,007)

(28,953)

(21,257)

(103,324)

Net capital expenditures

152,253

176,617

637,833

699,506

Adjusted EBITDA reconciliation

Three months ended August 31

Years ended August 31

2024

2023

2024

2023

(In thousands of Canadian dollars)

$

$

$

$

Profit for the period

85,484

91,797

354,132

417,972

Income taxes

15,225

18,119

62,342

94,761

Financial expense

61,925

70,222

277,690

251,642

Impairment of property, plant and equipment

14,862

—

14,862

—

Depreciation and amortization

182,361

155,934

673,557

620,466

Acquisition, integration, restructuring and other costs

10,561

15,228

59,731

36,225

Adjusted EBITDA

370,418

351,300

1,442,314

1,421,066

Net capital expenditures and free cash flow excluding network expansion projects reconciliations

Net capital expenditures

Three months ended August 31

2024

2023

Change

(In thousands of Canadian dollars, except percentages)

Actual

Foreign exchange impact

In

constant currency

Actual

Actual

In

constant currency

$

$

$

$

%

%

Net capital expenditures

152,253

(2,254)

149,999

176,617

(13.8)

(15.1)

Net capital expenditures in connection with network expansion projects

56,911

(576)

56,335

32,928

72.8

71.1

Net capital expenditures, excluding network expansion projects

95,342

(1,678)

93,664

143,689

(33.6)

(34.8)

 

Years ended August 31

2024

2023

Change

(In thousands of Canadian dollars, except percentages)

Actual

Foreign exchange impact

In

constant currency

Actual

Actual

In

constant currency

$

$

$

$

%

%

Net capital expenditures

637,833

(3,340)

634,493

699,506

(8.8)

(9.3)

Net capital expenditures in connection with network expansion projects

137,394

(780)

136,614

172,835

(20.5)

(21.0)

Net capital expenditures, excluding network expansion projects

500,439

(2,560)

497,879

526,671

(5.0)

(5.5)

Free cash flow

Three months ended August 31

2024

2023

(1)

Change

(In thousands of Canadian dollars, except percentages)

Actual

Foreign exchange impact

In

constant currency

Actual

Actual

In

constant currency

$

$

$

$

%

%

Free cash flow (1)

148,189

(462)

147,727

88,953

66.6

66.1

Net capital expenditures in connection with network expansion projects

56,911

(576)

56,335

32,928

72.8

71.1

Free cash flow, excluding network expansion projects (1)

205,100

(1,038)

204,062

121,881

68.3

67.4

(1)

During the fourth quarter of fiscal 2024, the Corporation updated its calculation of free cash flow and free cash flow, excluding network expansion projects, to include proceeds on disposals of property, plant and equipment. Comparative figures were restated to conform to the current presentation.

 

Years ended August 31

2024

2023

(1)

Change

(In thousands of Canadian dollars, except percentages)

Actual

Foreign exchange impact

In

constant currency

Actual

Actual

In

constant currency

$

$

$

$

%

%

Free cash flow (1)

476,021

(932)

475,089

418,056

13.9

13.6

Net capital expenditures in connection with network expansion projects

137,394

(780)

136,614

172,835

(20.5)

(21.0)

Free cash flow, excluding network expansion projects (1)

613,415

(1,712)

611,703

590,891

3.8

3.5

(1)

During the fourth quarter of fiscal 2024, the Corporation updated its calculation of free cash flow and free cash flow, excluding network expansion projects, to include proceeds on disposals of property, plant and equipment. Comparative figures were restated to conform to the current presentation.

Additional information

Additional information relating to the Corporation, including its Annual Information Form, is available on SEDAR+ at www.sedarplus.ca and on the Corporation’s website at corpo.cogeco.com.

About Cogeco Communications Inc.

Cogeco Communications Inc. is a leading telecommunications provider committed to bringing people together through powerful communications and entertainment experiences. We provide world-class Internet, video and wireline phone services to 1.6 million residential and business subscribers in Canada and thirteen states in the United States. We also offer wireless services in most of our U.S. operating territory. Our services are marketed under the Cogeco and oxio brands in Canada, and under the Breezeline brand in the U.S. We take pride in our strong presence in the communities we serve and in our commitment to a sustainable future. Cogeco Communications Inc.’s subordinate voting shares are listed on the Toronto Stock Exchange (TSX: CCA).

For information:

Investors
Troy Crandall
Head, Investor Relations
Cogeco Communications Inc.
Tel.: 514 764-4600
troy.crandall@cogeco.com 

Media
Claudja Joseph
Director, Communications & DEI
Cogeco Communications Inc.
Tel.: 514 764-4600
claudja.joseph@cogeco.com                                                                                                

Conference Call:                                  

Friday, November 1st, 2024 at 11:00 a.m. (Eastern Daylight Time)

A live audio of the analyst conference call will be available on both the Investor Relations and the Events and Presentations pages on Cogeco Communications’ website. Financial analysts will be able to access the live conference call and ask questions. Media representatives may attend as listeners only. A recording of the conference call will be available on Cogeco Communications’ website for a three-month period.

Please use the following dial-in number to access the conference call 10 minutes before the start of the conference:

Local – Toronto: 1 289 514-5100

Toll Free – North America: 1 800 717-1738

To join this conference call, participants are required to provide the operator with the name of the company hosting the call, that is, Cogeco Inc. or Cogeco Communications Inc.

SOURCE Cogeco Communications Inc.

Related Topics:
Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Technology

Joyson Electronics Unveils Embodied AI Core Component Portfolio, Including Dexterous Robotic Hand and Solid-Liquid Hybrid Battery, at WAIC 2026

Published

2 hours ago

on

July 17, 2026

By

SHANGHAI, July 17, 2026 /PRNewswire/ — Joyson Electronics (600699.SH/0699.HK) announced at the 2026 World Artificial Intelligence Conference (WAIC) a suite of robotic component solutions, including a dexterous robotic hand, solid-liquid hybrid battery, third-generation AI head assembly, electronic skin, and an embodied AI brain – alongside its latest achievements in industrial settings training and application. In addition, the company’s robot controller products are already in volume production and being delivered to leading robotics firms.

Dexterous Robotic Hand Integrates Multiple Industry-Exclusive Technologies; AI Head Assembly Ready for Rapid Mass Production

The dexterous robotic hand is often regarded as the “crown jewel” of robotics – owing to its high level of integration across a broad range of frontier disciplines, among them bionics, flexible sensing, MEMS, and advanced materials – and its significant commercial value.

At WAIC, Joyson Electronics introduced its first fully in-house developed “TeleHand” series of dexterous hand solutions. The TeleHand Professional Edition features an industry-exclusive “in-palm integration + hybrid actuation” architecture, directly addressing key challenges such as standalone integrity, tactile sensing, compliant manipulation, and fine motion control.

With 20 degrees of freedom, the TeleHand integrates three actuation modes – direct drive, tendon-driven, and linkage – within the palm. This design not only combines the precision of direct drive with the compliance of tendon-driven mechanisms, but also delivers higher transmission efficiency and lighter weight, enabling easy adaptation to various robotic platforms.

The TeleHand is equipped with Joyson Electronics’ in-house developed actuators and force-tactile sensing technologies, including:

Ultra-compact, high-torque-density miniature frameless actuators, which reduce volume by nearly 50% and weight by approximately 30% compared to conventional models, while delivering 2–3 times higher torque density than industry-standard hollow-cup motors of the same diameter.In-house developed force and tactile sensing technology (electronic skin), featuring industry-exclusive natively decoupled three-dimensional force sensing, achieving resolution beyond human tactile limits, with high sensitivity, proximity detection, ultra-thin form factor, and flexibility – suitable for diverse dexterous hand and embodied intelligence applications.

The TeleHand PHINO platform’s native unified multimodal fusion architecture minimizes information loss and offers strong generalization capabilities, enabling the TeleHand to perform precision industrial operations while seamlessly supporting service-oriented interactive scenarios. In addition to the Professional Edition, Joyson Electronics also launched a cost-effective Basic Edition, which offers industrial-grade reliability and real-world deployment advantages through in-house factory batch deployment.

Meanwhile, Joyson Electronics unveiled its third-generation AI head assembly, which integrates perception, motion, and system-level capabilities to deliver more natural head movements and emotional expression. Designed with a production-ready mechatronic architecture, it enables rapid support from concept design and prototype validation to mass production. Its modular and platform-based design further allows for agile product customization and iteration to meet diverse customer requirements.

Joyson Electronics Debuts Embodied AI Brain; Controllers Already Shipping to Leading Customers

In the robotics “brain” domain (cerebrum and cerebellum), Joyson Electronics’ automotive-grade edge-side physical AI platform – its robot controller products – has already achieved commercial deployment and is now in volume production for leading robotics customers.

Furthermore, Joyson Electronics unveiled its embodied AI brain solution (EAOS + EAPC) – a unified, software-hardware-integrated platform designed for cross-form-factor and cross-scenario adaptability. The solution aims to make robots “easier to use, truly productive, and capable of autonomous evolution.”

The Embodied AI PC (EAPC) adopts an external form-factor design, built on a fused cerebrum-cerebellum controller architecture, with computing power ranging from 40 TOPS to 2070 TFLOPS, meeting diverse requirements from entry-level to flagship embodied AI systems. The product features a modular, integrated design with a compact footprint and superior thermal efficiency, enabling cross-platform and cross-environment adaptability. Leveraging Joyson Electronics’ automotive supply chain and manufacturing capabilities, the solution also offers significant cost competitiveness.

On the software side, the Embodied AI Operating System (EAOS) comprises three core subsystems:

World Model – responsible for “understanding”, encoding multimodal signals into unified state representations and using dynamic predictors to simulate and preview scenarios within the system.Agentic OS – responsible for “action”, formulating high-level strategies, decomposing complex tasks, dynamically orchestrating sub-agents, invoking skill libraries and tools, and translating decisions into precise motions across dexterous hands, robotic arms, and mobile chassis.Memory System – responsible for “evolution,” managing working memory for real-time context, episodic memory for past experiences, and skill memory for accumulated learned capabilities.

The EAOS enables robots to execute long-horizon, complex tasks and achieve autonomous evolution – translating into tangible productivity gains. To date, Joyson Electronics’ embodied AI brain has been deployed in real-world settings, including select industrial scenarios and automated charging.

Solid-Liquid Hybrid Battery: The Optimal Power Solution for Embodied Intelligence

Conventional energy solutions for embodied intelligence face multiple challenges – limited endurance, large footprint, long recharging times, and insufficient power capacity to support instantaneous high-current discharge. Battery safety also remains a critical factor for widespread adoption. The industry requires a fundamental breakthrough that simultaneously balances energy density, power density, and safety.

Solid-liquid hybrid batteries (semi-solid-state batteries) offer the optimal power solution for embodied intelligence and represent the only technological pathway capable of addressing all the above energy challenges at the current stage. At WAIC, Joyson Electronics introduced its “Crystal Energy” multi-form solid-liquid hybrid battery solution, delivering high performance and reliability:

Energy density significantly increased to 380 Wh/kgOverall endurance improved by approximately 60%Cycle life exceeding 2,000 cyclesWide operating temperature range from -20°C to 60°CSupports both wired and wireless charging, reaching 80% capacity in just 30 minutes

Complementing this is the Crystal Energy Ultra-Control BMS, which operates across a wide temperature range of -40°C to 105°C, featuring real-time cell monitoring, automotive-grade safety protection, and full-lifecycle health management – comprehensively enhancing the safety, durability, and energy efficiency of robotic power systems. Additionally, Joyson Electronics unveiled its first gallium nitride (GaN) motor driver, achieving conversion efficiency exceeding 95% while reducing size by 40% – positioning it at the forefront of the industry.

With robotics standing on the cusp of large-scale commercialization, Joyson Electronics is advancing its “self-development + investment” dual-drive strategy, expanding its presence in embodied intelligence, and accelerating breakthroughs in key technologies. Looking ahead, Joyson Electronics will leverage its global R&D, manufacturing capabilities, and industrial settings to drive the reliable, scalable, and cost-effective commercialization of robotic core components, helping accelerate the industry’s transition to mass adoption.

View original content:https://www.prnewswire.com/apac/news-releases/joyson-electronics-unveils-embodied-ai-core-component-portfolio-including-dexterous-robotic-hand-and-solid-liquid-hybrid-battery-at-waic-2026-302828890.html

SOURCE Joyson Electronics

Continue Reading

Technology

With the Launch of Next-Gen Vehicle Reports, Zoooom Breaks the Car History Monopoly and Stops the $40+ Consumer ‘Rip-Off’

Published

3 hours ago

on

July 17, 2026

By

The first platform to pair deep vehicle history with real-time visual AI diagnostics for private-party sales—at a market-disrupting price.

CYPRESS, Calif., July 17, 2026 /PRNewswire/ — Zoooom, the pioneering peer-to-peer automotive technology platform, today announced the launch of Zoooom Car Reports, a direct, unprecedented reckoning for the legacy vehicle history monopoly. By offering the exact same volume of core historical and technical data as major traditional players — but adding real-time AI assessments and localized transactional intelligence — Zoooom is completely transforming the impact of car reports and dismantling its bloated pricing structure.

Zoooom Car Reports breaks the vehicle-history monopoly: same data, AI diagnostics, and a market-disrupting price.

For decades, a single vehicle history report could cost $40+. Because all major players rely on the exact same underlying datasets, Zoooom views this legacy pricing model as an outright consumer rip-off. Zoooom’s new initiative is rooted in its vision of democratizing automotive data and unlocking total transparency for everyday consumers.

Dismantling the Paywall: The Most Aggressive Pricing in Automotive Tech

To accelerate market adoption and empower consumers to gain confidence when transacting in the peer-to-peer marketplace, Zoooom is introducing a highly disruptive pricing structure:

Always Free for Your Own Vehicle: Any car registered in a user’s Zoooom Digital Garage receives full history reports completely free, without conditions. Zoooom is built on the core promise that no one should ever have to pay to access the data they already rightfully own.

The Summer Launch Offer: From now until August 31, 2026, users can run up to three comprehensive vehicle reports completely free of charge (see website for full conditions).

Zoooom Price Advantage: Starting September 1st, Zoooom will transition to a permanent, highly aggressive price positioning. While specific commercial tiers remain under wraps to protect Zoooom’s market edge, the post-summer pricing will permanently slash traditional industry rates, undercutting even basic budget data aggregators while delivering significantly higher technical value.

Zoooom Marketplace Plus Benefit: In a continuous commitment for service excellence, any buyer who runs a paid Zoooom report on a vehicle not saved in a Zoooom Digital Garage will receive a 100% refund on that report if they complete their transaction on the Zoooom marketplace using Stripe.

Zoooom Car Reports Goes Beyond with Advanced Features and a Unique Set of Data

While legacy reports rely entirely on lagging administrative logs, police reports, or DMV registrations, the Zoooom Car Report introduces a suite of modern, highly actionable features guiding potential buyers to make the right decision:

The “AI Walkaround” Integration: Users conduct a 60-second guided visual video scan of the car. Zoooom’s proprietary AI immediately analyzes the footage to capture real-time cosmetic wear (such as body scratches or interior cabin condition) and actively verifies instrument clusters to ensure no warning lights are illuminated, significantly enriching the depth of the historical report.

Actionable “What to Do Next” Framework: Instead of burying critical information in dense walls of text, Zoooom filters vehicle data into an immediate, prioritized checklist, explicitly flagging overdue services or open safety recalls.

NHTSA Owner Complaints Context: Zoooom cross-references the specific vehicle make and model year with broader consumer databases. By flagging recurring, owner-reported mechanical and electrical vulnerabilities, Zoooom arms buyers with critical preventative knowledge before they buy that is simply not mentioned in any other reports.

Localized Transaction & Tax Guidance: Unlike standard reports, Zoooom customizes the output based on the vehicle’s exact jurisdictional location, explicitly calculating estimated state sales taxes and outlining regional title notarization or transfer laws.

Integrated Pricing Guide: Estimated Private Party, Trade-in, and Dealer values are embedded directly into the history timeline, eliminating the need to cross-reference third-party valuation sites.

A Message from Leadership

“Zoooom continues to build unique capabilities that are fundamentally transforming the peer-to-peer car marketplace,” said Sheng Wang, CEO and Co-Founder of Zoooom. “With the launch of Zoooom Car Reports, Zoooom once again establishes itself as an indispensable player in the industry, leveraging data to create advanced, customer-centric AI features. By removing the friction of legacy systems and connecting buyers and sellers the way consumers expect, we are eliminating both the ‘trust deficit’ and the unnecessary middleman markups that have plagued this industry for too many years.”

“Charging consumers exorbitant prices for simple database queries is an outdated practice,” added Christophe G., Co-Founder and Chief Marketing Officer of Zoooom. “With Zoooom Car Reports, we are delivering a superior level of value for our customers and an unmatched product for a fraction of the cost. The Summer Launch Offer provides a unique opportunity for car sellers and buyers to engage with our brand and discover the most advanced peer-to-peer car marketplace in America. There has never been a better time to join the Zoooom community and benefit from our exclusive ecosystem.”

About Zoooom

Zoooom is an innovative automotive technology platform dedicated to bringing transparency, simplicity, and intelligence to the entire car ownership lifecycle. Leveraging proprietary technology, Zoooom develops user-centric solutions that break down traditional industry friction, creating a streamlined, cost-effective, and enjoyable experience for car owners, buyers, and sellers. Learn more at zoooom.me.

View original content to download multimedia:https://www.prnewswire.com/news-releases/with-the-launch-of-next-gen-vehicle-reports-zoooom-breaks-the-car-history-monopoly-and-stops-the-40-consumer-rip-off-302828861.html

SOURCE Zoooom, Inc.

Continue Reading

Technology

Community Healthcare Trust Announces Second Quarter Earnings Release Date And Conference Call

Published

3 hours ago

on

July 17, 2026

By

FRANKLIN, Tenn., July 17, 2026 /PRNewswire/ — Community Healthcare Trust Incorporated (NYSE: CHCT) today announced that on Tuesday evening, August 4, 2026, after the market closes, it will report results for the second quarter of 2026. 

On August 5, 2026, at 9:00 a.m. Central Time, Community Healthcare Trust will hold a conference call to discuss earnings results, quarterly activities, general operations of the Company and industry trends. Simultaneously, a webcast of the conference call will be available to interested parties via an Internet link at www.chct.reit under the Investor Relations section. A webcast replay will be available following the call at the same Internet site address.

Conference Call Details

Domestic Dial-In Number: 1-888-347-1332

International Dial-In Number: 1-412-902-4278

Canada Toll Free: 1-855-669-9657

Replay Conference Call Details

Domestic & Canada Replay Number: 1-855-669-9658

International Replay Number: 1-412-317-0088

Conference ID: 9422138

About Community Healthcare Trust Incorporated

Community Healthcare Trust Incorporated (the “Company”) is a real estate investment trust that focuses on owning income-producing real estate properties associated primarily with the delivery of outpatient healthcare services in our target sub-markets throughout the United States. As of March 31, 2026, the Company had investments of approximately $1.2 billion in 198 real estate properties (including one property with sales-type leases). The properties are located in 36 states, totaling approximately 4.5 million square feet in the aggregate.

Cautionary Note Regarding Forward-Looking Statements

In addition to the historical information contained within, the matters discussed in this press release may contain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are generally identifiable by use of forward-looking terminology such as “believes”, “expects”, “may”, “will,” “should”, “seeks”, “approximately”, “intends”, “plans”, “estimates”, “anticipates” or other similar words or expressions, including the negative thereof. Forward-looking statements are based on certain assumptions and can include future expectations, future plans and strategies, financial and operating projections or other forward-looking information. Such forward-looking statements reflect management’s current beliefs and are based on information currently available to management. Because forward-looking statements relate to future events, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of the control of Community Healthcare Trust Incorporated (the “Company”). Thus, the Company’s actual results and financial condition may differ materially from those indicated in such forward-looking statements. Some factors that might cause such a difference include the following: general volatility of the capital markets and the market price of the Company’s common stock, changes in the Company’s business strategy, availability, terms and deployment of capital, changes in the real estate industry in general, interest rates or the general economy, adverse developments related to the healthcare industry, changes in governmental regulations, the degree and nature of the Company’s competition, the ability to consummate acquisitions under contract, catastrophic or extreme weather and other natural events and the physical effects of climate change, the occurrence of cyber incidents, effects on global and national markets as well as businesses resulting from increased inflation, changes in interest rates, supply chain disruptions, labor conditions, prolonged government shutdown or budgetary reductions or impasses, tariffs and global trade tensions, and/or international conflicts, and the other factors described in the section entitled “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025, and the Company’s other filings with the Securities and Exchange Commission from time to time. Readers are therefore cautioned not to place undue reliance on the forward-looking statements contained herein which speak only as of the date hereof. The Company intends these forward-looking statements to speak only as of the time of this press release and undertakes no obligation to update forward-looking statements, whether as a result of new information, future developments, or otherwise, except as may be required by law.

CONTACT: Bill Monroe, 615-771-3052

View original content:https://www.prnewswire.com/news-releases/community-healthcare-trust-announces-second-quarter-earnings-release-date-and-conference-call-302828754.html

SOURCE Community Healthcare Trust Incorporated

Continue Reading

Trending