BCE sees FY25 adjusted EPS down 8%-13%

Sees FY25 revenue down 3% to up 1%. Sees FY25 adjusted EBITDA down 2% to up 2%. Sees FY25 free cash flow 11%-19%. The company said, “We expect wireless and broadband competitive pricing flowthrough pressure from 2024, lower subscriber loadings, decreased wireless product sales and higher media content and programming costs to impact revenue and adjusted EBITDA. We expect a slowdown of our fibre build in Canada and efficiencies from transformation initiatives to drive lower capital expenditures. We expect increased interest expense, higher depreciation and amortization expense, lower gains on sale of real estate and a higher number of common shares outstanding due to the implementation of a discounted dividend reinvestment plan. For 2025, we also expect lower capital expenditures to drive higher free cash flow. The guidance ranges below are unaffected by the pending divestiture of Northwestel and also exclude the acquisition of Ziply Fiber, which is expected to close in the second half of 2025.”