BCE Q3 2018 Earnings Report — BCE Inc. Revenue & Financial Results | Market Cap Arena

Q3 2018 Earnings

Reported November 1, 2018

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q3 2018	Q2 2018	Q3 2017	QoQ Change	YoY Change
Revenue	$4.3B	$4.2B	$4.2B	1.6%	3.2%
Op. Income	$1.1B	$1.0B	$1.0B	2.5%	4.7%
Gross Margin	50.5%	50.6%	51.1%	-0.1pp	-0.5pp
Net Margin	14.5%	12.8%	14.6%	1.7pp	-0.2pp
EPS (Diluted)	$0.66	$0.58	$0.66	13.9%	0.0%
Free Cash Flow	$741M	$732M	$872M	1.3%	-15.0%

Revenue Flow

Item	Amount
REVENUE	$4.3B
Cost of Revenue	$2.1B
GROSS PROFIT	$2.2B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	-$1.1B
Other Expenses	$2.2B
Operating Expenses	$1.1B
Cost & Expenses	$3.3B
OPERATING INCOME	$1.1B
Interest Income	$0
Interest Expense	$199M
Other Income/Expenses	-$268M
INCOME BEFORE TAX	$797M
Income Tax Expense	$164M
Net Income from Continuing Ops	$634M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$621M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$595M
D&A	$730M
EBIT	$996M
EBITDA	$1.8B
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$4.3B
Cost of Revenue	$2.1B
GROSS PROFIT	$2.2B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	-$1.1B
Other Expenses	$2.2B
Operating Expenses	$1.1B
Cost & Expenses	$3.3B
OPERATING INCOME	$1.1B
Interest Income	$0
Interest Expense	$199M
Other Income/Expenses	-$268M
INCOME BEFORE TAX	$797M
Income Tax Expense	$164M
Net Income from Continuing Ops	$634M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$621M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$595M
D&A	$730M
EBIT	$996M
EBITDA	$1.8B
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$621M
Depreciation & Amortization	$730M
Stock-Based Compensation	$0
Deferred Income Tax	$164M
Other Non-Cash Items	-$72M
Change in Working Capital	$50M
OPERATING CASH FLOW	$1.5B
Capital Expenditure	-$752M
Acquisitions (Net)	-$110M
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	-$7M
NET CASH FROM INVESTING	-$869M
Net Debt Issuance	$267M
Common Stock Repurchased	$0
Common Dividends Paid	-$495M
Other Financing Activities	-$53M
NET CASH FROM FINANCING	-$305M
FREE CASH FLOW	$741M
Net Change in Cash	$319M

Balance Sheet

Item	Amount
Cash & Equivalents	$604M
Short-Term Investments	$0
Net Receivables	$2.8B
Inventory	$359M
Other Current Assets	$379M
TOTAL CURRENT ASSETS	$4.4B
PP&E (Net)	$18.1B
Goodwill	$7.8B
Intangible Assets	$9.8B
Long-Term Investments	$563M
Tax Assets	$89M
Other Non-Current Assets	$1.5B
TOTAL NON-CURRENT ASSETS	$37.7B
TOTAL ASSETS	$42.1B
Account Payables	$2.8B
Short-Term Debt	$3.6B
Deferred Revenue	$512M
Other Current Liabilities	$0
TOTAL CURRENT LIABILITIES	$7.6B
Long-Term Debt	$14.3B
Deferred Revenue NC	$147M
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$4.6B
TOTAL NON-CURRENT LIABILITIES	$19.0B
TOTAL LIABILITIES	$26.7B
Common Stock	$14.6B
Additional Paid-In Capital	$848M
Retained Earnings	-$3.2B
Treasury Stock	$0
Accum. Other Comp. Income	$3M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$15.2B
Minority Interest	$237M
TOTAL EQUITY	$15.5B
TOTAL LIABILITIES & EQUITY	$42.1B
Total Debt	$17.9B
Net Debt	$17.3B