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BCE’s wireless unit is improving, says Garcea

“We support management’s successful efforts to strengthen its branding (aka Bell Media) and revenue-focused execution, while it has aggressively cut costs to protect margins that have been held essentially flat over the past 5 years,” said Northland Capital analyst Ralph Garcea. Northland Capital Partners issued a note on BCE (TSX:BCE) after the Canadian media and telecom giant posted third-quarter earnings.

For the three months ended September 30, net income dropped to $569 million and adjusted net earnings fell to $588 million, or 76 cents per share. Adjusted EPS was a penny below recent analyst estimates compiled by Thomson Reuters.

Revenue was up slightly from last year at $4.98 billion compared with $4.91 billion in the third quarter of last year.

Analysts had estimated BCE’s adjusted earnings would be 77 cents per share on revenue of $4.9 billion, according to estimates Thomson Reuters.

“We support management’s successful efforts to strengthen its branding (aka Bell Media) and revenue-focused execution, while it has aggressively cut costs to protect margins that have been held essentially flat over the past 5 years,” Northland Capital analyst Ralph Garcea said in the note.

“Positive short-term trends have emerged for the wireless business.”

Looking ahead, Northland estimates fourth-quarter earnings of $0.65 per share on revenue of $5.16 billion, compared to consensus estimates of earnings of $0.67 per share on revenue of $5.19 billion.

For the full year, Northland is predicting earnings of $3.18 per share on revenue of $19.97 billion versus consensus earnings estimates of $3.15 on revenue of $20.1 billion.

Joyanta Acharjee
Proactive Investors
Source Article

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About The Author /

Nick Waddell
Cantech Letter founder and editor Nick Waddell has lived in five Canadian provinces and is proud of his country's often overlooked contributions to the world of science and technology. Waddell takes a regular shift on the Canadian media circuit, making appearances on CTV, CBC and BNN, and contributing to publications such as Canadian Business and Business Insider.

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