BCE Inc. (BCE) reported fourth-quarter 2023 adjusted earnings per share (EPS) of C$0.76 (56 cents) compared with C$0.71 in the prior-year quarter. The Zacks Consensus Estimate was pegged at 54 cents.Quarterly total operating revenues increased 0.5% year over year to C$6,473 million ($4,755 million). The consensus estimate was pegged at $4,819.1 million. This was driven by a 3.6% rise in Product revenues, which totaled C$1,125 million, whereas Service revenues declined 0.1% to C$5,348 million.The uptick was ...

For the quarter ended December 2023, BCE (BCE) reported revenue of $4.76 billion, up 0.3% over the same period last year. EPS came in at $0.56, compared to $0.53 in the year-ago quarter.The reported revenue represents a surprise of -1.33% over the Zacks Consensus Estimate of $4.82 billion. With the consensus EPS estimate being $0.54, the EPS surprise was +3.70%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next mo ...

Financial Data and Key Metrics - Adjusted EBITDA increased by 5.3% in Q4 2023, driving a 1.9-point margin increase to 39.7% [24] - Adjusted EPS grew by 7% in Q4 2023 [24] - Free cash flow saw a $913 million year-over-year positive swing in Q4 2023 [25] - Residential Internet revenue grew by 7.1% in 2023 [7] - Digital revenue in media increased by 19%, representing 35% of total media revenue [8] - Total ad revenue in media declined by 13.7% in Q4 2023 [29] Business Line Data and Key Metrics - Wireless segment delivered 128,715 new net subscribers in Q4 2023, with ARPU up 0.4% [26] - Broadband Internet added 55,591 new net retail subscribers in Q4 2023 [27] - IPTV added 23,537 net subscribers in Q4 2023 [27] - Consumer wireless revenue increased by 5.5% in Q4 2023 [27] - Residential Internet revenue grew by 5.4% in Q4 2023 [27] - Digital revenue in media grew by 27% in Q4 2023 [28] Market Data and Key Metrics - The company achieved its broadband fibre buildout target and surpassed mobile 5G and 5G+ coverage objectives, offering multi-gig symmetrical Internet speeds in 6.5 million locations [6] - The company secured new 5G+ spectrum licenses in the 3,800 megahertz auction, acquiring the most 5G+ spectrum in Canada at the lowest cost among national wireless carriers [6] - The company increased its share of digital online service transactions through self-serve tools to nearly 70% [9] Company Strategy and Industry Competition - The company is shifting focus away from overly regulated parts of the business towards key growth areas such as cloud and security services, advanced advertising, and digital transformation [13] - The company is reducing CapEx by at least $1 billion over the next two years, including a $500 million year-over-year decrease in 2024 [12] - The company is undertaking a significant workforce restructuring, eliminating approximately 4,800 positions, which will yield cost savings of $150 million to $200 million in 2024 [14] - The company is leveraging automation, digitization, and AI to drive cost savings and improve competitiveness [16] Management Commentary on Operating Environment and Future Outlook - The company faced significant media advertising headwinds, unsupportive government and regulatory decisions, and a macroeconomic environment marked by higher interest rates and sustained inflation in 2023 [5] - The company expects revenue growth of 0% to 4% and adjusted EBITDA growth of 1.5% to 4.5% in 2024 [30] - The company anticipates free cash flow of $2.8 billion to $3.05 billion in 2024, reflecting $400 million in one-time severance payments [35] - The company is increasing its common share dividend by 3.1% for 2024, marking its 16th year of uninterrupted dividend growth [22] Other Important Information - The company is selling 45 radio stations and closing 107 Source stores as part of its strategic refocusing [13] - The company is migrating customers to its fibre network, transitioning 110,000 residential customers in 2023 [20] - The company introduced a new next-generation Fibe TV service, currently available in Atlantic Canada, with plans for a broader rollout [21] Q&A Session Summary Question: Regulatory environment and long-term profitability [41] - The company is reducing CapEx by at least $1 billion over the next two years due to regulatory pressures and may consider further cost reductions if regulatory conditions worsen [43][44] - The company is shifting investments from fibre expansion to growth and transformation initiatives [45] Question: Free cash flow guidance and dividend sustainability [48] - The company expects free cash flow growth despite significant one-time severance payments and higher interest expenses, with the dividend supported by underlying free cash flow growth [49] Question: Long-term outlook for dividend growth [53] - The company will assess dividend growth year by year, balancing it against growth and transformation CapEx, with 3% considered appropriate for 2024 [54] Question: Cost reduction strategies and copper decommissioning [56] - The company is focusing on digital transformation, AI, and product rationalization to drive cost savings and improve efficiency [58][59][60] Question: Macroeconomic conditions and business performance [62] - The company is seeing strong growth in enterprise solutions and wireless loadings, with cautious monitoring of small business closures and customer payment patterns [63][64][65] Question: Working capital and free cash flow [68] - The company expects working capital pressures to normalize over time, with some items taking more than one year to resolve [69] Question: Network convergence and fixed wireless [71] - The company has a fixed wireless product since 2018 and is satisfied with its current addressable market, though it faces competition from Starlink in rural areas [72] Question: Adjusted EBITDA guidance [74] - The lower end of the adjusted EBITDA guidance reflects cost savings from workforce reduction and potential impacts from the advertising market [75] Question: Postpaid phone churn and competition [77] - The company is leveraging household bundling, premium loadings, and customer experience improvements to manage churn, which has increased but remains under control [78] Question: CapEx reduction and fibre expansion [81] - The company is reducing CapEx due to regulatory decisions and reallocating investments to growth and transformation initiatives, with fibre expansion plans adjusted accordingly [82]

BCE (BCE) came out with quarterly earnings of $0.56 per share, beating the Zacks Consensus Estimate of $0.54 per share. This compares to earnings of $0.53 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 3.70%. A quarter ago, it was expected that this Canada's largest telecommunications company would post earnings of $0.60 per share when it actually produced earnings of $0.60, delivering no surprise.Over the last four quarters, ...

Q4 2023 Results & 2024 Financial Guidance Call 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 financial guidance (including revenues, adjusted EBITDA, capital intensity, adjusted EPS and free cash flow), BCE’s 2024 annualized common share dividend and dividend growth objective, BCE’s 2024 anticipated capital expenditures, the expected slower pace of BCE’s fibre net ...

This news release contains forward-looking statements. For a description of the related risk factors and assumptions, please see the section entitled "Caution Regarding Forward-Looking Statements" later in this news release. The information contained in this news release is unaudited. All 2023 financial guidance targets achieved 5.3% consolidated adjusted EBITDA1 growth in Q4 yielded 1.9 percentage-point increase in adjusted EBITDA margin2 to 39.7% — best quarterly result since Q1 2022 Q4 net earnings of ...

Roberto Machado Noa/LightRocket via Getty Images On our last coverage of BCE Inc. (NYSE:BCE) (TSX:BCE:CA), we gave it a buy rating, recognizing the relative valuation of this telecom play compared to both TELUS Corporation (T:CA) and Rogers Communications Inc. (RCI.B:CA). At the same time, we refused a direct entry and opted for a covered call as part of our recommendation. We specifically identified the $55 covered calls as a superior investment to a straight buy. While we will get rate cuts in a recession ...

Best Buy Canada and Bell to operate 165 small-format consumer electronics retail stores across Canada, branded Best Buy Express Best Buy Express stores to offer leading consumer electronics from Best Buy and wireline and wireless services from Bell, Virgin Plus and Lucky Mobile MONTRÉAL and VANCOUVER, BC, Jan. 18, 2024 /PRNewswire/ - Best Buy Canada and Bell Canada (TSX: BCE) (NYSE: BCE) have entered into a strategic partnership to operate 165 consumer electronics retail stores in Canada. The Source, a wh ...

BCE, Inc. (NYSE:BCE) Q3 2023 Earnings Conference Call November 2, 2023 8:00 AM ET Company Participants Thane Fotopoulos - Vice President of Investor Relations Mirko Bibic - President and Chief Executive Officer Curtis Millen - Executive Vice President and Chief Financial Officer Conference Call Participants David Barden - Bank of America Drew McReynolds - RBC Capital Markets Maher Yaghi - Scotiabank Tim Casey - BMO Capital Markets Batya Levi - UBS Aravinda Galappatthige - Canaccord Genuity Simon Flannery - ...

Q2 2023 Results Conference Call 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 financial guidance (including revenue, adjusted EBITDA, capital intensity, adjusted EPS and free cash flow), BCE’s 2023 annualized common share dividend, BCE’s planned capital expenditures for the second half of 2023, BCE’s network deployment plans and anticipated capital expenditures as ...