By Robb M. Stewart

Canadian communications giant BCE anticipates modest revenue growth over this year after little change in revenue for the final quarter of last year.

The parent of Bell broadband, internet, TV and media operations said Thursday it expects improvements in wireless pricing and wireless-product sales in 2026, and well as media-revenue growth and an expansion in artificial intelligence-powered enterprise offerings. At the same time, severance payments are set to be lower for the year, helping boost free cash flow.

That has BCE targeting a decline in adjusted per-share earnings of between 11% and 5% following a 7.9% drop in 2025, with revenue growth seen at 1% to 5% after it edged up 0.2% last year.

Adjusted earnings before interest, taxes, depreciation and amortization are expected to be flat to up 4%, against the 2025 rise of 0.7%.

BCE recorded net earnings of 632 million Canadian dollars (US$462.5 million), or C$0.64 a share, in the fourth quarter of 2025. That was up sharply from C$505 million, or C$0.51 a share, a year earlier. The result was lifted by gains on investments after the sale of almost all of BCE's home-security and monitored-alarms assets, and against a prior-year comparison when the company booked losses on derivatives used to hedge share-based compensation.

On an adjusted basis, earnings fell 13% to C$0.69, beating the C$0.62 mean estimate of analysts polled by FactSet. Adjusted Ebitda increased to C$2.66 billion from C$2.61 billion a year earlier.

Operating revenue for the three months was little changed at C$6.4 billion, slipping from C$6.42 billion in the same period a year prior. Analysts were expecting C$6.54 billion.

Write to Robb M. Stewart at robb.stewart@wsj.com

(END) Dow Jones Newswires

February 05, 2026 07:48 ET (12:48 GMT)

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