Montréal, Québec ‑ Quebecor Inc. (“Quebecor” or “the Corporation”) today reported its consolidated financial results for the third quarter of 2026.

Third quarter 2026 highlights

• In the third quarter of 2026, Quebecor’s adjusted cash flows from operations were up $67.3 million (14.6%) compared with the same quarter of 2025 to $529.7 million, adjusted EBITDA was up $78.6 million (12.5%) to $706.7 million, and revenues were up $49.2 million (3.5%) to $1.45 billion. These results primarily reflect the strong performance of the Telecommunications and Media segments, as well as the favourable impact of $31.5 million related to stock‑based compensation.

• The Telecommunications segment recorded increases of $34.7 million (7.9%) in adjusted cash flows from operations, $45.0 million (7.5%) in adjusted EBITDA and $51.4 million (4.2%) in revenues, including growth of $43.1 million (9.6%) in mobile telephony service revenues and $9.3 million (3.0%) in Internet access service revenues. In addition, average monthly mobile revenue per unit (“mobile ARPU”) increased by 2.9%, marking a fourth consecutive quarterly increase and a sequential improvement.

• The mobile telephony service posted a net increase of 136,700 subscriber connections (3.0%), the largest quarterly increase in the number of subscriber connections since the launch of the mobile service in 2010.

• In the third quarter of 2026, the Media segment reported a $16.3 million (69.7%) increase in adjusted EBITDA, while the Sports and Entertainment segment reported a $0.9 million (‑6.0%) decrease.

• Quebecor’s net income attributable to shareholders was $296.4 million ($1.33 per basic share), an increase of $60.3 million ($0.30 per basic share) or 25.5%.

• Adjusted net income was $294.1 million ($1.32 per basic share), an increase of $52.5 million ($0.27 per basic share) or 21.7%.

• The consolidated net debt leverage ratio decreased to 2.69x and remains the lowest among Canada’s major telecommunications providers.

• On September 3, 2026, Quebecor entered into a new 12‑year sublicensing agreement with Rogers Communications (“Rogers”) for French‑language broadcast rights to National Hockey League (“NHL”) games. Effective from the 2026‑2027 season through the 2037‑2038 season, this agreement enables TVA Sports to build on its current role as an official French‑language NHL broadcaster, ensuring continuity in its position as the premier destination for watching hockey in French in Québec and across Canada. The illico+ platform will be added to the broadcasting landscape in keeping with the continued expansion to more streaming platforms.

• On October 1, 2026, Videotron Ltd. (“Videotron”) announced the expansion of its wireless subscription area to several communities in Abitibi‑Témiscamingue, Nord‑du‑Québec, Saguenay–Lac‑Saint‑Jean and Bas‑Saint‑Laurent, providing more than 25,000 residents with access to a genuine competitive alternative for mobile service.

• On July 24, 2026, Freedom Mobile (“Freedom”) announced that access to its 5G+ network would be available at no additional cost to customers on all of its plans, provided they have a compatible device and SIM card and are located within an eligible coverage area. Freedom also continued the rollout of its 5G and 5G+ networks in Ontario, Alberta and British Columbia, improving connectivity for more than 500,000 additional Canadians.

• During the third quarter of 2026, Videotron repaid a total of $200.0 million under the third tranche of its term credit facility. An additional repayment of $100.0 million was made on October 6, 2026. Following these repayments, the balance of the facility was reduced from $400.0 million to $100.0 million.  

Comments by Pierre Karl Péladeau, President and Chief Executive Officer of Quebecor

Quebecor delivered an excellent performance in the third quarter of 2026, as reflected by increases of 14.6% in adjusted cash flows from operations, 12.5% in adjusted EBITDA and 3.5% in revenues. These results reflect the significant contribution of the Telecommunications and Media segments, as well as the $31.5 million favourable impact of stock‑based compensation. Demonstrating our financial discipline and operational rigour, this solid performance, combined with the strongest balance sheet in the industry, enabled us to reduce consolidated net debt by more than $220 million in the third quarter and lower our consolidated net debt leverage ratio to 2.69x as at September 30, 2026, by far the lowest among Canada's major telecommunications providers.

- Pierre Karl Péladeau, President and Chief Executive Officer of Quebecor

"The Telecommunications segment once again distinguished itself with increases of 7.9% in adjusted cash flows from operations, 7.5% in adjusted EBITDA and 4.2% in revenues. Revenue growth was driven by mobile telephony and Internet access services, which recorded increases of 9.6% and 3.0%, respectively."

"In mobile telephony, we reached a new milestone with a net increase of 136,700 subscriber connections, or 3.0%, representing the largest quarterly increase since the launch of the mobile service in 2010. All three of our brands, Videotron, Freedom and Fizz, contributed to this record growth, reflecting both the success of our Canada‑wide expansion, the strength of our organic growth in Québec and the soundness of our strategic decisions in a highly competitive market. The value and appeal of our offerings continue to set us apart, driving both the acquisition of new subscribers and the loyalty of our customer base. At the same time, mobile ARPU increased by $1.03, or 2.9%, marking a fourth consecutive quarterly increase and a sequential improvement, reflecting our ability to combine subscriber growth with higher average revenue per subscriber."

"To better meet our customers’ needs, we continue to invest in enhancing the performance, capacity and coverage of our networks. Freedom notably continued the expansion of its 5G and 5G+ networks in Ontario, Alberta and British Columbia, providing improved connectivity to more than 500,000 additional Canadians. In addition, access to Freedom’s 5G+ network was extended to customers across all of its plans at no additional cost for those with a compatible device and SIM card located within an eligible coverage area. In Québec, Videotron expanded its wireless service subscription area in October to several communities in Abitibi‑Témiscamingue, Nord‑du‑Québec, Saguenay–Lac‑Saint‑Jean and Bas‑Saint‑Laurent. More than 25,000 additional residents can now take advantage of our competitive mobile offerings. These initiatives reflect our commitment to making leading‑edge wireless technologies accessible to more Canadians while providing a strong competitive alternative."

"In the Media segment, TVA Group Inc. (“TVA Group”) reported adjusted EBITDA of $32.8 million, an increase of $14.3 million compared with the third quarter of 2025. This improvement was mainly attributable to savings generated through various cost‑reduction initiatives, including lower content costs, higher subscription revenues at TVA Sports, driven by TVA Sports Direct and new carriage rate agreements, as well as the recognition of the estimated benefit from the new tax credit for Québec news media organizations. While we welcome these results, we remain prudent and disciplined given the ongoing challenges facing the industry, particularly in advertising revenues."

"Maintaining its focus on programming choices that are both successful and responsible, TVA Group led the Québec television market in the third quarter with a 43.5% market share, a 2.3‑point increase from the same period of 2025, while the TVA Network strengthened its leadership position with a 23.1% market share, a 1.0‑point increase, driven in particular by the success of flagship programs such as Chanteurs masqués and Indéfendable. In news programming, LCN remained the most‑watched specialty channel in Québec with a 9.2% market share, a 1.2‑point increase. LCN and the TVA Network cemented their status as the authoritative sources for political news. During the recent election campaign, Face‑à‑face 2026 and Québec 2026 were the most‑watched leaders’ debate and election‑night broadcast."

"In addition, a new 12‑year sublicensing agreement was reached with Rogers for the French‑language broadcast rights to NHL games through the 2037‑2038 season. This agreement reinforces TVA Sports’ position as a premier destination for hockey fans in Québec and across Canada. In an environment marked by changing viewing habits and the diversification of distribution platforms, illico+ will also become part of the distribution ecosystem."

"The superior performance of our operations, the quality of our assets and the strength of our brands allow us to look to the future with confidence. Backed by our solid financial position, we continue to pursue our pan‑Canadian expansion while maintaining disciplined capital allocation to create sustainable value for all our stakeholders."

For more details and to consult definitions of non-IFRS measures and key performance indicators please refer to the attached PDF file for the complete version of the press release.

Information :

Hugues Simard
Chief Financial Officer
Quebecor Inc. and Quebecor Media Inc.
hugues.simard@quebecor.com
514 380-7414
 

Communications department
Quebecor Inc. and Quebecor Media Inc.
medias@quebecor.com
514 380-4572