Live: Will Constellation Brands Smash Q1 Earnings After the Bell Tonight?
Q1 25 EPS
$0.51
MISS 18.48%
Est. $0.62
Q1 25 Revenue
$4.34B
MISS 26.77%
Est. $5.93B
vs S&P Since Q1 25
-32.4%
TRAILING MARKET
BCE -0.1% vs S&P +32.3%
Market Reaction
Did BCE Beat Earnings? Q1 2025 Results
BCE delivered a disappointing first quarter, missing on both the top and bottom lines as investors absorbed the weight of a dramatic dividend cut alongside the headline numbers. The Canadian telecom posted earnings per share of $0.51, falling 18.48% … Read more BCE delivered a disappointing first quarter, missing on both the top and bottom lines as investors absorbed the weight of a dramatic dividend cut alongside the headline numbers. The Canadian telecom posted earnings per share of $0.51, falling 18.48% short of the $0.62 consensus estimate, while revenue of $4.34 billion trailed expectations by 26.77% and declined 1.4% year over year, pressured by a 7.4% drop in product revenues tied to lower government wireless device sales and ongoing The Source store closures. The quarter's defining moment, however, was BCE's decision to slash its annualized common share dividend to $1.28, framing the reduction as a necessary step to deleverage a strained balance sheet amid elevated cost of capital and regulatory headwinds. On the positive side, free cash flow surged to $584.06 million from $62.21 million a year earlier, and the company confirmed its 2025 guidance, pointing to roughly $500 million in planned capital expenditure reductions and a new dividend payout policy targeting 40% to 55% of free cash flow as it pursues its U.S. Fiber expansion through the pending Ziply Fiber acquisition.
Key Takeaways
- • Cost reduction initiatives from workforce reductions, cost containment, and technology/automation-enabled operating efficiencies
- • Bell Media subscriber revenue growth of 7.8% driven by Crave and sports streaming DTC subscribers
- • Bell Media advertising revenue growth of 3.9% from OUTEDGE acquisition and digital advertising growth
- • Capital expenditure reduction of 27.2% year over year in line with planned spending reductions
- • Higher working capital cash generation and lower income taxes paid driving 38.8% increase in operating cash flow
- • Flow-through of residential rate increases on Internet and IPTV
BCE YoY Financials
Q1 2025 vs Q1 2024, source: SEC Filings
BCE Revenue by Segment
With YoY comparisons, source: SEC Filings
BCE Earnings Trends
BCE vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
BCE EPS Trend
Earnings per share: estimate vs actual
BCE Revenue Trend
Quarterly revenue: estimate vs actual
BCE Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 MISS | $0.58 | $0.46 | -20.35% | $4.53B | -25.59% |
| Q4 25 BEAT FY | $0.54 | $0.69 | +28.04% | $6.40B | -1.99% |
| FY Full Year | $2.72 | $2.80 | +3.07% | $24.47B | -0.51% |
| Q3 25 MISS | $0.71 | $0.58 | -18.28% | $4.43B | -27.19% |
| Q2 25 MISS | $0.71 | $0.63 | -11.39% | $6.09B | +2.25% |
| Q1 25 MISS | $0.62 | $0.51 | -18.48% | $4.34B | -26.77% |