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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 August 3, 2023.

BCE's 2023 financial guidance
2023 Guidance (1)
Revenue growth 1% to 5%
Adjusted EBITDA growth (2) 2% to 5%
Capital intensity (3) 19% to 20%
Adjusted EPS growth (4) (3%) to (7%)
Free cash flow growth (5) 2% to 10%
Annualized common dividend per share $3.87

2022 Financial highlights

2022 Financial highlights
($ millions except per share amounts) (unaudited) 2022 2021 Change in dollar amount
BCE blank blank blank
Operating revenues
24,174 23,449 3.1%
Net earnings
2,926 2,892 1.2%
Net earnings attributable to common shareholders
2,716 2,709 0.3%
Adjusted net earnings (4)
3,057 2,895 5.6%
Adjusted EBITDA (2)
10,199 9,893 3.1%
Net earnings per common share (EPS)
2.98 2.99 (0.3%)
Adjusted EPS (4)
3.35 3.19 5.0%
Cash flows from operating activities
8,365 8,008 4.5%
Capital expenditures (6)
(5,133) (4,852) (5.8%)
Free cash flow (5)(6)
3,067 2,980 2.9%