Shaw Communications Says Remains On Track To Meet Its FY19 Guidance

(RTTNews) - Shaw Communications Inc. (SJR_B.TO, SJR, SJR_A.TO) confirmed Tuesday that it remains on track to meet its fiscal 2019 guidance, which includes consolidated operating income before restructuring costs and amortization growing 4 to 6 percent over fiscal 2018. The expected growth rate is based on adjusted fiscal 2018 results that include the impact of IFRS 15.

Capital investments for the full-year 2019 are expected to be about $1.2 billion and free cash flow in excess of $500 million. The Company's guidance includes assumptions related to cost savings that will be achieved through TBT initiatives (specifically the VDP savings) that are expected to amount to a combined $140 million in fiscal 2019 (approximately $85 million attributed to operating expenses and approximately $55 million attributed to capital expenditures).