2023-05-04 07:08:30 ET
- BCE press release ( NYSE: BCE ): Q1 Non-GAAP EPS of $0.85 beats by $0.08 .
- Revenue of $6.05B (+3.4% Y/Y) beats by $60M .
- Cash flows from operating activities down 27.3% to $1,247 million; free cash flow decreased to $85 million on timing of capital expenditures and working capital.
- Reconfirming all 2023 financial guidance targets: Revenue growth of 1% to 5%; Adjusted EBITDA growth of 2% to 5%; Adjusted EPS growth of (3%) to (7%)
- For 2023, we expect lower tax adjustments, higher depreciation and amortization expense and increased interest expense to drive lower adjusted EPS compared to 2022. For 2023, we expect growth in adjusted EBITDA, a reduction in contributions to post-employment benefit plans and payments under other post-employment benefit plans, and lower capital expenditures will drive higher free cash flow.
For further details see:
BCE beats Q1 top and bottom line estimates; reaffirms FY23 outlook