Canadian telecommunications firm Cogeco (TSE: CGO) has reported a $1.8 billion quarterly loss as its finances deteriorate and it grapples with impairment charges.

The massive loss for the company’s fiscal third quarter compares to a profit of $74 million during the same period a year earlier.

Cogeco, which provides television and internet service in Ontario and Quebec, posted a loss per share of $42.84 compared with earnings per share of $2.13 a year ago.

Management said the loss was mainly due to a $1.7 billion impairment charge related to its U.S. telecommunications business.

Cogeco offers telecommunications services in more than 10 states along the East Coast of America.

An impairment charge is an accounting expense recorded when an asset's market value drops significantly below its recorded book value.

Cogeco also reported a revenue decline for its latest quarter.

The Montreal-based company said its revenue for fiscal Q3 totaled $724.2 million, down 5% from $758.5 million in the same period of 2025.

CGO stock has fallen 34% over the last five years to trade at $63.57 per share in Toronto.

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