Shaw Communications, Inc. (NYSE:SJR) Q3 2017 Earnings Conference Call - Preliminary Transcript

Jun 28, 2017 • 09:00 am ET


Shaw Communications, Inc. (NYSE:SJR) Q3 2017 Earnings Conference Call - Preliminary Transcript


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Welcome to Shaw Communications' Third Quarter Fiscal 2017 Conference Call. Today's call will be hosted by Mr. Brad Shaw, CEO of Shaw Communications.

Before we begin, Management would like to remind listeners that comments made during today's call will include forward-looking information and there are risks that actual results could differ materially. Please refer to the Company's publicly filed documents for more details on assumptions and risks.

Mr. Shaw, I will now turn the call over to you.

Brad Shaw

Thank you, Operator. Good morning, everyone, and thank you for joining us today. And with me are members of our Senior Management Team including Jay, Vito, and Trevor.

We are pleased this morning to report strong financial results for our third quarter and also share some comments and thoughts regarding the recent transactions we announced on June 13. We believe that both transactions are optimizing the value and strategic positioning of our portfolio of assets and will generate long-term benefits for all of our stakeholders including our employees, customers, and shareholders.

Our results this quarter highlight our unwavering commitment to the execution of our long-term strategic plan. We also emphasize that at Shaw we are putting our customers' future connectivity needs at the center of every strategic decision we make, as we focus on growth opportunities in front of us.

We are building a best-in-class converged network, driving product innovation and value through industry-leading services such as WideOpen Internet 150 and BlueSky TV and enhancing our capabilities and capacity to offer Canadians a more affordable and robust wireless experience.

In the quarter within our consumer division, we gained approximately 13,000 cable video subscribers, returning to growth for the first time since 2010. We also delivered a net gain of approximately 21,000 Internet customers, a net loss of approximately 2000 phone customers, and a net gain of approximately 7000 satellite RGUs.

Collectively, our consumer and wireless divisions had a net gain of 58,000 RGUs in the quarter or 64,000 subscribers including BNS growth. This substantial year-over-year improvement is attributed to several factors. We focused on our network and launched WideOpen Internet 150 across Shaw's entire cable footprint. We also provided price certainty through compelling bundle and value plan offerings which are driving notable reductions in disconnects.

We modernized television viewing experience and mass launched the BlueSky TV in April across Shaw's entire footprint. BlueSky is more than just a new set-top box or voice remote. BlueSky TV is a revolutionary TV viewing experience that listens, learns, and curates preferred content through an intuitive and modern interface leveraging the power of voice.

Over time, we believe this platform through our partnership with Comcast will become the digital hub for the home. We've rolled out our LTE advanced network ahead of schedule and is now nearing completion and our LTE handset lineup continues to expand and currently features LG, Samsung, and Sony.

Freedom Mobile continues to release key enhancements that improve a customer experience such as Wi-Fi calling, which provides customers ability to make calls at