Shaw Communications Q3 Profit Down - Quick Facts

(RTTNews) - Diversified Canadian communications company Shaw Communications Inc. (SJR, SJR.B.TO) reported that its third-quarter net income attributable to equity shareholders declined to C$219 million from the prior year's C$239 million, with earnings per share decreasing to C$0.47 from C$0.52 in the same quarter last year. Analysts polled by Thomson Reuters expected the company to report earnings of C$0.49 per share for the quarter. Analysts' estimates typically exclude special items.

But, revenue for the quarter rose to C$1.342 billion from C$1.326 billion last year. Wall Street analysts had a consensus revenue estimate of C$1.36 billion for the quarter.

The company said its preliminary view with respect to 2014 guidance was provided coincident with the release of its fourth quarter results on October 24, 2013. The company is now updating its guidance.

The Company expects consolidated revenue and operating income before restructuring costs and amortization growth, after adjusting for the net impact of fiscal 2013 acquisition and disposition activity, to range from 2% to 4%. Shaw expects a marginal decline in capital investment, excluding capital investment funded through the accelerated capital fund, and an increase in cash taxes. Free cash flow is now expected to exceed C$650 million.