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Extra Everything: The Story of Chipotle
Chipotle's story from a single restaurant to a nationwide chain, through crisis and turnaround, built on one of the strongest models in the industry.
BCE
BCE (BCE) investor relations material
BCE Q2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 2026 earnings summary6 Aug, 2026
Executive summary
Consolidated revenue rose 1.5% year-over-year to $6,176 million, with adjusted EBITDA up 1.0% to $2,702 million and free cash flow exceeding $1 billion for the quarter.
Net earnings declined 2.3% to $629 million, while adjusted EPS increased 3.2% to $0.65, aided by higher adjusted EBITDA and the absence of prior-year non-cash FX losses.
Achieved lowest postpaid churn in three years at 1.02%, with strong subscriber growth in fibre, mobile, and video segments, and Crave streaming subscribers up 23% to over 5 million.
Recognized for network reliability and speed, with multiple industry awards for internet and 5G performance.
Advanced AI-powered solutions and data centre build-out, including major projects in Saskatchewan, Winnipeg, and Merritt, B.C., and acquisition of Ziply Fiber boosting U.S. segment growth.
Financial highlights
Operating revenues reached $6,176 million (+1.5% YoY); adjusted EBITDA was $2,702 million (+1.0% YoY) with a margin of 43.8%.
Adjusted EPS increased by $0.02 to $0.65; net earnings per share declined 4.8% to $0.60.
Capital expenditures surged 41.5% to $1,080 million, mainly for Ziply Fiber and AI data centre investments; capital intensity at 17.5%.
Free cash flow reached $1,042 million, up 9.5% year-over-year, but declined 9.5% compared to prior periods due to higher capital expenditures.
Cash flows from operating activities increased 11.0% to $2,162 million.
Outlook and guidance
All 2026 financial guidance targets were reconfirmed, including revenue growth of 1–5%, adjusted EBITDA growth of 0–4%, and a target net debt leverage ratio of 3.5x by end of 2027.
Capital expenditures expected to rise by $1.3 billion, mainly for Saskatchewan AI data centre, with most incurred in the second half of the year.
Adjusted EPS and free cash flow expected to decline due to higher capex and related expenses; dividend maintained at $1.75 per share.
Anticipated improvements in wireless pricing, AI-powered enterprise solutions, and media revenue.
Ziply Fiber Adjusted EBITDA contribution
Revenue from AI facilities finance leases
Early debt redemption gains from Q2 tender offers
Detail the 2026 AI data centre capex schedule
Assess the impact of CRTC wholesale fibre rates
Analyze Ziply Fiber's effect on EBITDA margins
Detail Bell AI Fabric monetization roadmap
Crave growth strategy post-FIFA World Cup 2026
Ziply Fiber integration and US expansion targets
Ziply H2 build ramp and revenue growth outlook
Partial view of Summaries dataset, powered by Quartr API
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Latest events from BCE
- $1.5B cost savings, 2-4% revenue CAGR, and 15% free cash flow CAGR targeted by 2028.BCE
Investor Day 20259 Jul 2026 - Announced a 300MW data center with 20% IRR, emphasizing sovereign AI and disciplined growth.BCE11th Annual Desjardins Conference 20268 Jul 2026
- Fully contracted 300 MW AI data center drives growth, $12B impact, and strong risk controls.BCEStatus update8 Jul 2026
- Record EBITDA margin and free cash flow offset net loss from media impairment.BCEQ3 20248 Jul 2026
- AI Fabric and fiber expansion accelerate growth as cost savings and margin stability continue.BCEJ.P. Morgan 54th Annual Global Technology, Media and Communications Conference18 May 2026
- AI/data center growth, U.S. fiber buildout, and capital discipline drive long-term value.BCETD Cowen 28th Annual Telecom & Media Conference14 May 2026
- Revenue up 4% and adjusted EBITDA up 2.9% in Q1 2026, led by fiber and AI growth.BCEQ1 202613 May 2026
- Board, auditor, and compensation votes passed; AI and digital growth drive strategy amid industry change.BCEAGM 202611 May 2026
- 2025 targets met with record margins and cash flow; 2026 aims for growth but lower adjusted EPS.BCEQ4 202513 Apr 2026
Next BCE earnings date
Q3 20265 Nov, 2026
BCE
Next BCE earnings date
Q3 20265 Nov, 2026
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