Sunday, June 16, 2024

BCE Non-GAAP EPS of C$0.72, revenue of C$6.01B; reaffirms FY24 outlook

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  • BCE press release (NYSE:BCE): Q1 Non-GAAP EPS of C$0.72.
  • Revenue of C$6.01B (-0.7% Y/Y).
  • Consolidated adjusted EBITDA growth of 1.1% better than Q1 plan, delivering 0.8 percentage-point increase in adjusted EBITDA margin to 42.7% on 2.0% lower operating costs.
  • Cash flows from operating activities down 9.2% to C$1,132 million; free cash flow stable at $85 million.
  • Reconfirming all 2024 financial guidance targets
  • BCE confirmed its financial guidance targets for 2024, as provided on February 8, 2024, as follows:

    2023 Results

    2024 Guidance

    Revenue growth

    2.1 %

    0% to 4%

    Adjusted EBITDA growth

    2.1 %

    1.5% to 4.5%

    Capital intensity

    18.6 %

    Below 16.5%

    Adjusted EPS growth

    (4.2 %)

    (7%) to (2%)

    Free cash flow growth

    2.5 %

    (11%) to (3%)

    Annualized common dividend per share

    C$3.87

    C$3.99

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