BCE Q1 2018 Earnings Report — BCE Inc. Revenue & Financial Results | Market Cap Arena

Q1 2018 Earnings

Reported May 3, 2018

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q1 2018	Q4 2017	Q1 2017	QoQ Change	YoY Change
Revenue	$4.1B	—	$3.9B	—	4.8%
Op. Income	$922M	—	$919M	—	0.4%
Gross Margin	40.0%	—	49.5%	—	-9.5pp
Net Margin	12.5%	—	12.6%	—	-0.1pp
EPS (Diluted)	$0.53	—	$0.53	—	0.0%
Free Cash Flow	$387M	—	$337M	—	14.8%

Revenue Flow

Item	Amount
REVENUE	$4.1B
Cost of Revenue	$2.5B
GROSS PROFIT	$1.6B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$0
Other Expenses	$1.6B
Operating Expenses	$1.6B
Cost & Expenses	$3.2B
OPERATING INCOME	$922M
Interest Income	$0
Interest Expense	$188M
Other Income/Expenses	-$232M
INCOME BEFORE TAX	$690M
Income Tax Expense	$172M
Net Income from Continuing Ops	$518M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$509M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$483M
D&A	$725M
EBIT	$878M
EBITDA	$1.6B
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$4.1B
Cost of Revenue	$2.5B
GROSS PROFIT	$1.6B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$0
Other Expenses	$1.6B
Operating Expenses	$1.6B
Cost & Expenses	$3.2B
OPERATING INCOME	$922M
Interest Income	$0
Interest Expense	$188M
Other Income/Expenses	-$232M
INCOME BEFORE TAX	$690M
Income Tax Expense	$172M
Net Income from Continuing Ops	$518M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$509M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$483M
D&A	$725M
EBIT	$878M
EBITDA	$1.6B
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$509M
Depreciation & Amortization	$725M
Stock-Based Compensation	$0
Deferred Income Tax	$172M
Other Non-Cash Items	-$248M
Change in Working Capital	-$65M
OPERATING CASH FLOW	$1.1B
Capital Expenditure	-$707M
Acquisitions (Net)	-$163M
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	$24M
NET CASH FROM INVESTING	-$846M
Net Debt Issuance	$903M
Common Stock Repurchased	-$128M
Common Dividends Paid	-$472M
Other Financing Activities	-$108M
NET CASH FROM FINANCING	$172M
FREE CASH FLOW	$387M
Net Change in Cash	$419M

Balance Sheet

Item	Amount
Cash & Equivalents	$876M
Short-Term Investments	$0
Net Receivables	$2.8B
Inventory	$324M
Other Current Assets	$370M
TOTAL CURRENT ASSETS	$4.6B
PP&E (Net)	$17.7B
Goodwill	$7.7B
Intangible Assets	$9.8B
Long-Term Investments	$606M
Tax Assets	$112M
Other Non-Current Assets	$934M
TOTAL NON-CURRENT ASSETS	$36.8B
TOTAL ASSETS	$41.4B
Account Payables	$2.6B
Short-Term Debt	$4.0B
Deferred Revenue	$516M
Other Current Liabilities	$0
TOTAL CURRENT LIABILITIES	$7.8B
Long-Term Debt	$14.1B
Deferred Revenue NC	$143M
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$4.5B
TOTAL NON-CURRENT LIABILITIES	$18.8B
TOTAL LIABILITIES	$26.6B
Common Stock	$14.6B
Additional Paid-In Capital	$834M
Retained Earnings	-$3.8B
Treasury Stock	$0
Accum. Other Comp. Income	$7M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$14.6B
Minority Interest	$225M
TOTAL EQUITY	$14.8B
TOTAL LIABILITIES & EQUITY	$41.4B
Total Debt	$18.2B
Net Debt	$17.3B