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Shaw Communications Inc Shs -B- Non-Voting SJR Stock Quote

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Shaw Posts Decent Fiscal Q4 but Can’t Quite Stem Sales Deterioration; Fate Depends on Rogers Merger

Matthew Dolgin, CFA Equity Analyst

Analyst Note

| Matthew Dolgin, CFA |

Shaw reported a second straight quarter of material gains in broadband subscribers, and its wireless results were much better than we feared amid the uncertainty surrounding its Freedom Mobile wireless business. However, the continuing exodus of wireline video and phone customers led to yet another quarter of top-line declines. Year-over-year revenue declined 1.5% in the quarter and over 1% for the full year.

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Company Profile SJR

Business 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 2021, 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.

630 - 3rd Avenue S.W., Suite 900
Calgary, AB, T2P 4L4, Canada
T +1 403 750-4500
Industry Telecom Services
Most Recent Earnings May 31, 2022
Fiscal Year End Aug 31, 2022
Employees 9,300

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