Shaw Communications Earnings: Free Cash Flow Shrinks
Shaw Communications Inc.’s (NYSE:SJR) fiscal first quarter saw a steady increase in revenue and earnings (excluding non-operating items) of 19% and 28% respectively for a performance that they see as solid.
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Canada’s leading telecommunications and entertainment company said free cash flow took a dive during this period, from C$154 million a year earlier to C$119 million. Why did the flow fall off? Some reasons cited include improved operating income before amortization offset by higher capital spending, increased interest and cash taxes.
Net income from continuing operations soared from C$17 million, or 3 Canadian cents a year earlier to C$202 million, or 43 Canadian cents per share. Excluding items, earnings came to C$210 million for the quarter.
According to analysts polled by Thomson Reuters, the mean earnings estimate for the quarter was for a profit of 47 Canadian cents per share.