BCE reports first quarter 2020 results

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.

  • Q1 results and COVID-19 response underscore BCE’s financial strength and leading broadband wireline, wireless and broadcast networks
  • BCE adjusted EBITDA up 1.4% on solid year-over-year growth of 4.0% at Bell Wireless and 0.5% at Bell Wireline, driving $1,451 million of cash flows from operating activities and free cash flow of $627 million
  • 45,042 total wireless, retail Internet and IPTV net customer additions
  • Bell Media results impacted by industry-wide decline in advertising due to COVID-19
  • Net earnings of $733 million with net earnings attributable to common shareholders of $680 million, or $0.75 per common share; adjusted net earnings of $720 million generated adjusted EPS of $0.80
  • Withdrawing 2020 financial guidance due to uncertainty regarding duration and impacts of COVID-19
  • Significant financial flexibility to manage through COVID-19 with $3.2 billion of liquidity at end of Q1 and substantial free cash flow generation for planned 2020 capital spending and BCE’s common share dividend payments
  • Common share dividend of $0.8325 declared for Q2, up 5% over last year

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