Benzinga | Jan 13, 2021 08:20AM EST

Shaw Communications: Q1 Earnings Insights



Shares of Shaw Communications (NYSE:SJR) rose 0.2% in pre-market trading after the company reported Q1 results.

Quarterly Results

Earnings per share were unchanged year over year to $0.24, which beat the estimate of $0.22.

Revenue of $1,040,000,000 declined by 2.35% year over year, which beat the estimate of $1,010,000,000.

Looking Ahead

Shaw reaffirmed FY21 adjusted EBITDA growth over FY20.

Conference Call Details

Date: Jan 13, 2021

Time: 09:30 AM

ET Webcast URL: https://78449.choruscall.com/dataconf/productusers/shawcomm/mediaframe/42458/indexl.html

Recent Stock Performance

52-week high: $20.47

52-week low: $12.20

Price action over last quarter: Up 7.69%

Company Description

Shaw Communications is a Canadian cable company that is one of the biggest providers of Internet, television, and landline telephone services in British Columbia, Alberta, Saskatchewan, Manitoba, and northern Ontario. In fiscal 2020, more than 75% of Shaw's total revenue resulted from this wireline business. Shaw is also now a national wireless service provider after acquiring Wind Mobile in 2016. Shaw has upgraded its wireless network, undertaken an aggressive pricing strategy, and significantly enhanced its spectrum holdings. As a smaller carrier, Shaw has favored bidding status in spectrum auctions, giving it a further boost in enhancing its wireless network. At the 2019 auction, Shaw added significant amounts of 600 MHz spectrum to the 700 MHz spectrum it is currently deploying.