BCE to participate in the Barclays Communications and Content Symposium [Accessibility Statement] Skip NavigationMONTRÉAL, Feb. 20, 2026 /PRNewswire/ - Curtis Millen, Executive Vice President and Chief Financial Officer of BCE Inc. (TSX: BCE) (NYSE: BCE) will participate in a fireside chat at the Barclays Communications and Content Symposium in New York, on Tuesday, February 24th, 2026, at 9:10 am eastern.A live webcast will be available on [BCE's website].About BCEBCE is Canada's largest communications com ...

We recently published an article titled 11 Best Canadian Growth Stocks to Buy According to Hedge Funds. On February 6, Scotiabank lowered its price target on BCE Inc. (NYSE:BCE) to C$39.50 from C$40.25 while maintaining an Outperform rating, indicating that despite modest valuation adjustments, the firm continues to view the risk-reward profile favorably. During its third-quarter 2025 results conference call, BCE Inc. (NYSE:BCE) reported a 1.3% increase in total revenue, supported in part by the acquisi ...

Strategic Progress - The company management reiterated its three-year strategic plan during the Q3 2025 earnings meeting, focusing on customer service, network construction, enterprise AI solutions, and digital media [2] - The integration performance and subsequent synergies following the acquisition of Ziply Fiber are key points of market interest [2] Performance and Operations - The company's AI-driven solutions revenue recorded a 34% growth in Q3 2025, becoming a highlight of the business [3] - The adjusted EBITDA margin increased to 45.7%, with management emphasizing that operational efficiency has reached historical highs [3] Industry Policy and Environment - The Bank of Canada noted in its February 2026 meeting minutes that U.S. policies, including trade and central bank independence, have increased uncertainty, which may affect the financing environment and growth expectations for Canadian companies, including the telecom sector [4] - Investors should pay attention to macro policy changes and their impact on overall industry demand and the company's capital expenditure plans [4]

Core Insights - BCE Inc. reported a decline in fourth-quarter 2025 adjusted earnings per share (EPS) to C$0.69 from C$0.79 in the prior-year quarter, exceeding the Zacks Consensus Estimate of 45 cents [2] - Total operating revenues for the quarter decreased by 0.3% year over year to C$6.4 billion, below the consensus estimate of $4.7 billion, primarily due to a 15% drop in Product revenues [3] Financial Performance - For 2025, BCE's operating revenue increased slightly by 0.2% to C$24.5 billion, with a quarterly dividend declared at C$0.4375 per share [4] - The company anticipates higher revenue and adjusted EBITDA for 2026, driven by contributions from Ziply Fiber and growth in AI-powered enterprise solutions, despite a forecasted decline in adjusted EPS [5] Segment Results - The Bell CTS segment generated C$5.7 billion in revenue, a 0.2% year-over-year increase, supported by higher service revenue [7] - Bell CTS Canada experienced a 3.9% decline in operating revenue to C$5.5 billion, impacted by lower product and service sales [8] Subscriber Metrics - Postpaid net additions slightly decreased to 56,124, with improved churn rates at 1.49%, while prepaid subscriber losses narrowed [11] - The acquisition of Ziply Fiber contributed to the new Bell CTS U.S. segment, generating C$232 million in operating revenues since its inception [12] Media Performance - Bell Media's operating revenue fell by 3.4% to C$804 million, affected by weak advertising demand, although subscriber revenue increased by 1.5% [13] - Total digital revenue rose by 3%, supported by growth in Crave and sports direct-to-consumer subscribers [14] Operational Efficiency - BCE's adjusted EBITDA increased by 2.3% year over year to C$2.66 billion, with an expanded adjusted EBITDA margin of 41.6%, the highest in over 30 years [15] - Capital expenditures surged by 36.8% to C$1.3 billion, primarily due to investments in Ziply Fiber's FTTP expansion [16] Cash Flow Analysis - Operating cash flow decreased by 16.8% to C$1.6 billion, while free cash flow plummeted by 74.3% to C$225 million due to higher capital expenditures [17] 2026 Outlook - Management projects revenue growth of 1-5% and adjusted EBITDA growth of 0-4% for 2026, with adjusted EPS expected to decline between 11% and 5% [18]

Financial Data and Key Metrics Changes - In 2025, consolidated service revenue increased by 0.6%, with adjusted EBITDA rising by 0.7%, leading to a 20 basis point improvement in adjusted EBITDA margin to 43.6%, the strongest annual margin in over 30 years [18] - Adjusted EPS declined by 7.9% in 2025, primarily due to higher depreciation and amortization from network investments and increased interest expense [18] - Free cash flow increased by 10% to CAD 3.2 billion, driven by higher EBITDA, lower capital expenditures, and improved working capital [19] Business Line Data and Key Metrics Changes - Wireless service revenue declined by 0.2% in Q4, an improvement from previous quarters, with consumer wireless service revenue stable year-over-year [20][22] - Fiber-to-the-Home internet net additions reached 43,000 in Q4, contributing to a year-over-year internet revenue growth of 8% [7][21] - AI-powered solutions revenue grew by 31% in the enterprise segment, driven by strong performance from Ateco and Bell Cyber [21] Market Data and Key Metrics Changes - The acquisition of Ziply Fiber contributed positively to revenue, with total revenue for Bell CTS US reaching CAD 232 million in Q4, supported by strong customer penetration [23] - Ziply added over 6,000 net new fiber customers in Q4, with a focus on expanding its fiber footprint [24] Company Strategy and Development Direction - The company has aligned its organization around four strategic priorities: enhancing customer experience, strengthening fiber and wireless network leadership, accelerating enterprise and digital media growth, and positioning for sustainable free cash flow growth [3][4] - The strategy includes a focus on disciplined capital allocation, with a target of approximately CAD 1.5 billion in AI-powered solutions revenue by 2028 [11][15] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the growth of core segments while managing declines in legacy services, indicating a focus on maintaining momentum in AI-powered solutions and digital media [36] - The company anticipates consolidated revenue growth of 1%-5% and adjusted EBITDA growth of 0%-4% for 2026, reflecting continued momentum in growth engines [26][27] Other Important Information - The company reported a net debt leverage ratio of approximately 3.8 times adjusted EBITDA at the end of 2025, unchanged from the previous year, despite the Ziply Fiber acquisition [30][31] - The company is focused on maintaining a dividend payout ratio within the target range of 40%-55% while generating strong free cash flow [29] Q&A Session Summary Question: Guidance ranges for revenue and EBITDA - Management indicated that the guidance reflects growth in core segments while managing legacy declines, with potential swings from wireless penetration gains and overall market growth [36][38] Question: Wireless pricing environment - Management noted that they are focused on disciplined execution and are not participating in aggressive promotions, aiming for profitable transactions [39][40] Question: Growth and margins for Ziply - Management confirmed that Ziply's performance is in line with expectations, with strong demand for fiber and plans to expand beyond the existing footprint [45][46] Question: Impact of recent wireless discounts - Management stated that recent pricing activity does not change their execution strategy, emphasizing a disciplined approach to subscriber loading [57][58] Question: Convergence opportunities - Management acknowledged the potential for increased wireless market share through their fiber footprint and indicated a belief in significant upside from disciplined execution [60][61]

Financial Data and Key Metrics Changes - In 2025, consolidated service revenue increased by 0.6%, with adjusted EBITDA rising by 0.7%, leading to a 20 basis point improvement in adjusted EBITDA margin to 43.6%, the strongest annual margin in over 30 years [18] - Adjusted EPS declined by 7.9% in 2025, primarily due to higher depreciation and amortization from network investments and increased interest expense [18] - Free cash flow increased by 10% to CAD 3.2 billion, driven by higher EBITDA, lower capital expenditures, and improved working capital [19] Business Line Data and Key Metrics Changes - Wireless service revenue declined by 0.2% in Q4, an improvement from the 1.5% decline in Q4 of the previous year, with consumer wireless service revenue stable year-over-year [20][22] - Fibre-to-the-home internet net additions were 43,000 in Q4, reflecting disciplined pricing and strong demand [21] - AI-powered solutions revenue grew by 31% in Q4, driven by momentum in Ateco and Bell Cyber, contributing to the goal of reaching CAD 1.5 billion in AI-powered solutions revenue by 2028 [22] Market Data and Key Metrics Changes - Ziply Fiber's total revenue in Q4 was CAD 232 million, with internet revenue growing in double digits due to fibre expansion and strong customer penetration [23] - Ziply added over 6,000 net new fibre customers in Q4, with a focus on higher growth markets for future expansion [24] Company Strategy and Development Direction - The company has aligned its organization around four strategic priorities: enhancing customer experience, strengthening fibre and wireless network leadership, establishing a fibre growth platform in the U.S., and accelerating enterprise and digital media momentum [3][4] - The acquisition of Ziply Fiber is a key milestone in the fibre growth strategy, with plans to reach approximately 3 million fibre passings by the end of 2028 [9] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the growth of core segments while managing declines in legacy services, indicating a focus on disciplined execution and customer-first initiatives [36] - The company anticipates consolidated revenue growth of 1%-5% and adjusted EBITDA growth of 0%-4% for 2026, reflecting continued momentum in growth engines [26][27] Other Important Information - Capital expenditures are expected to remain stable at approximately CAD 3.7 billion in 2026, with a lower capital intensity of 15% or less [29] - The company has CAD 2.5 billion of available liquidity and a pension solvency surplus of CAD 4.4 billion, providing financial flexibility for executing the 2026 business plan [30] Q&A Session Summary Question: Guidance ranges for 2026 - Management indicated that the guidance reflects growth in segments while managing legacy declines, with potential swings from wireless penetration gains and overall market growth [35][36] Question: Wireless pricing environment - Management noted that while there has been aggressive promotion in the market, they remain disciplined in their strategy, focusing on premium brand value and customer experience [39][40] Question: Ziply's growth and margins - Management confirmed that Ziply's performance is consistent with expectations, with strong demand for fibre and plans for broader geographic expansion [45][46] Question: U.S. competitive environment - Management stated that the strategy in the U.S. remains unchanged, focusing on penetration and capital discipline while assessing opportunities for expansion [67] Question: Asset sales and capital allocation - Management confirmed ongoing asset sales as part of capital allocation discipline, with updates to be provided as agreements are reached [71]

Financial Data and Key Metrics Changes - In 2025, consolidated service revenue increased by 0.6%, with adjusted EBITDA rising by 0.7%, leading to a 20 basis point improvement in adjusted EBITDA margin to 43.6%, the strongest annual margin in over 30 years [18] - Adjusted EPS declined by 7.9% in 2025, primarily due to higher depreciation and amortization from network investments and increased interest expense [18] - Capital expenditures decreased by CAD 197 million to CAD 3.7 billion, resulting in a capital intensity of 15.1% [19] - Free cash flow increased by 10% to CAD 3.2 billion, driven by higher EBITDA, lower CapEx, and improved working capital [19] Business Line Data and Key Metrics Changes - Wireless service revenue declined by 0.2% in Q4, an improvement from the 0.4% decline in Q3 and significantly better than the 1.5% decline in Q4 of the previous year [22] - Fiber continued to be a key growth driver with approximately 200,000 net new subscriber additions, contributing to an 8% growth in internet revenue [7][19] - AI-powered solutions revenue grew by 31% in the enterprise segment, driven by momentum in Ateco and Bell Cyber [22] Market Data and Key Metrics Changes - Postpaid churn improved by 17 basis points to 1.49%, marking the third consecutive quarter of year-over-year improvement [20] - Consumer wireless service revenue remained stable year-over-year in Q4, indicating a positive trend as the company enters 2026 [22] - Ziply Fiber's total revenue reached CAD 232 million in Q4, with internet revenue growing in double digits [24] Company Strategy and Development Direction - The company has aligned its organization around four strategic priorities: fiber, wireless, enterprise, and media, aiming for sustainable free cash flow growth [3][4] - The acquisition of Ziply Fiber is a key milestone in the fiber growth strategy, with plans to reach approximately 3 million fiber passings by the end of 2028 [9] - The focus remains on delivering premium content through digital platforms and enhancing customer experience across all segments [13] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the growth segments while acknowledging the need to manage declines in legacy services carefully [36] - The company expects consolidated revenue growth of 1%-5% and adjusted EBITDA growth of 0%-4% for 2026, reflecting continued momentum in core growth engines [27] - Management highlighted the importance of maintaining disciplined execution and focusing on customer value amidst competitive pressures [40] Other Important Information - The company is targeting a net debt leverage ratio of approximately 3.5x by the end of 2027, with a focus on deleveraging [32] - The company has CAD 2.5 billion of available liquidity and a pension solvency surplus of CAD 4.4 billion, providing financial flexibility [31] Q&A Session Summary Question: Could you talk about your guidance ranges? - Management indicated that the guidance reflects growth in segments while managing legacy declines, with factors such as wireless penetration and overall market growth influencing the ranges [35][36] Question: Any comment on the wireless pricing environment? - Management noted that consumers are receiving significant value from wireless services, with a focus on disciplined execution and premium brand positioning [40][41] Question: What are the expectations for Ziply's growth and margins in 2026? - Management expressed satisfaction with Ziply's performance and indicated strong demand for fiber, with plans to expand beyond the existing footprint [46][47] Question: Any updates on asset sales? - Management confirmed ongoing efforts to optimize the balance sheet through asset sales, with transparency to be provided as agreements are reached [71][72]

分组1 - BCE reported quarterly earnings of $0.49 per share, exceeding the Zacks Consensus Estimate of $0.45 per share, but down from $0.56 per share a year ago, representing an earnings surprise of +7.93% [1] - The company posted revenues of $4.59 billion for the quarter ended December 2025, missing the Zacks Consensus Estimate by 1.68%, with year-ago revenues also at $4.59 billion [2] - BCE shares have increased approximately 10.6% since the beginning of the year, outperforming the S&P 500's gain of 0.5% [3] 分组2 - The current consensus EPS estimate for the upcoming quarter is $0.42 on revenues of $4.35 billion, and for the current fiscal year, it is $1.90 on revenues of $17.92 billion [7] - The Diversified Communication Services industry, to which BCE belongs, is currently ranked in the top 32% of over 250 Zacks industries, indicating a favorable outlook compared to the bottom 50% [8] - Telus, another company in the same industry, is expected to report quarterly earnings of $0.18 per share, with revenues projected to be $3.93 billion, reflecting a 2.2% increase from the year-ago quarter [9]

Q4 2025 Results & 2026 Financial Guidance Conference Call February 5, 2026 Safe harbour notice Certain statements made in this presentation are forward-looking statements. These forward-looking statements include, but are not limited to, statements relating to: BCE's 2026 guidance (including revenue, adjusted EBITDA, capital intensity, adjusted EPS, free cash flow and annualized common share dividend) and outlook; BCE's capital allocation priorities for 2026, including BCE's net debt leverage ratio expected ...

Exhibit 99.1 BCE INC. Safe harbour notice concerning forward-looking statements February 5, 2026 Safe harbour notice concerning forward-looking statements In this safe harbour notice concerning forward-looking statements (Safe Harbour Notice), we, us, our, BCE and the company mean, as the context may require, either BCE Inc. or, collectively, BCE Inc., Bell Canada, their subsidiaries, joint arrangements and associates. Bell Media means, as the context may require, either Bell Media Inc. or our Bell Media se ...