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BCE's 2023 financial guidance

The information included on this page represents our financial guidance targets for 2023.

Please read our caution concerning forward-looking statements when using this information.

For additional details and explanations, please see BCE’s news release dated Feburary 8, 2024.

BCE's 2023 financial guidance
Guidance (1)
Revenue growth 0% to 4%
Adjusted EBITDA growth (2) 1.5% to 4.5%
Capital intensity (3) Below 16.5%
Adjusted EPS growth (4) (2%) to (7%)
Free cash flow growth (5) (3%) to (11%)
Annualized common dividend per share $3.99

2023 Financial highlights

2023 Financial highlights
($ millions except per share amounts) (unaudited) 2023 2022 Change in dollar amount
BCE blank blank blank
Operating revenues
24,673 24,174 2.1%
Net earnings
2,327 2,926 (20.5%)
Net earnings attributable to common shareholders
2,076 2,716 (23.6%)
Adjusted net earnings (4)
2,926 3,057 (4.3%)
Adjusted EBITDA (2)
10,417 10,199 2.1%
Net earnings per common share (EPS)
2.28 2.98 (23.5%)
Adjusted EPS (4)
3.21 3.35 (4.2%)
Cash flows from operating activities
7,946 8,365 (5.0%)
Capital expenditures
(4,581) (5,133) 10.8%
Free cash flow (5)
3,144 3,067 2.5%