Canada · Delayed Price · Currency is CAD Corus Entertainment Holdings Earnings Call Transcripts
Fiscal Year 2026
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Q3 2026 revenue fell 16% year-over-year due to lower TV and radio advertising and subscription revenue, while cost containment improved margins. Segment profit dropped 53%, and regulatory and macroeconomic uncertainties persist.
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Q2 revenue declined 15% year-over-year to CAD 230 million, but Segment Profit surged 72% due to significant cost reductions. Regulatory approval for the recapitalization transaction is pending, with strong audience recovery and leadership in specialty networks supporting future outlook.
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Senior noteholders convened to vote on a recapitalization arrangement, which passed with the required majority. No questions were raised, and final voting results will be published after tabulation.
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Q1 revenue rose 18% year-over-year to CAD 268 million, but profit margins declined amid lower TV advertising and subscriber revenue. A major recapitalization plan is underway to reduce debt and extend maturities, with strong stakeholder support.
Fiscal Year 2025
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Revenue and segment profit declined year-over-year due to lower TV advertising and subscriber revenue, but cost reductions partially offset the impact. Liquidity was enhanced with a revolver increase, and regulatory funding remains a key uncertainty.
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Q3 revenue declined 10% year-over-year to CAD 298 million, with TV advertising and subscription revenue under pressure, but cost reductions improved segment profit margins. The outlook anticipates a 20% decline in Q4 TV ad revenue, with further cost cuts planned amid a challenging ad market and regulatory uncertainty.
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Q2 revenue fell 10% year-over-year to CAD 270 million, with segment profit margins down but free cash flow up 40% due to cost savings. The amended credit facility extends runway, while strong audience growth in TV and streaming is offset by persistent ad market weakness and digital competition.
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Revenue and profit declined year-over-year due to weak TV ad demand and increased programming costs, despite strong ratings and streaming growth. Cost reductions and asset sales helped offset some pressures, while leverage increased and regulatory relief remains uncertain.
Fiscal Year 2024
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Fiscal 2024 saw a 16% revenue decline amid industry disruption, but aggressive cost reductions led to improved margins and higher free cash flow. New lifestyle networks launch in December with strong advertiser interest, while ad market recovery remains uncertain and digital competition pressures persist.
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Q3 revenue fell 16% year-over-year to CAD 332 million, with segment profit down 30% amid ongoing ad market disruptions and a major non-cash impairment. Aggressive cost-cutting, business right-sizing, and rebranding of key channels are underway, while debt covenant relief and regulatory changes remain critical near-term priorities.