BCE Inc. (NYSE:BCE) Q2 2020 Earnings Conference Call - Final Transcript

Aug 06, 2020 • 08:00 am ET


BCE Inc. (NYSE:BCE) Q2 2020 Earnings Conference Call - Final Transcript


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Good morning, ladies and gentlemen. Welcome to the BCE Q2 2020 Results Conference Call.

I would now like to turn the meeting over to Mr. Thane Fotopoulos. Please go ahead, Mr. Fotopoulos.

Thane Fotopoulos

Thank you, Louise, and good morning, everyone, and thank you for joining us morning. Participating on the call today will be Mirko Bibic, BCE's President and CEO; and Glen LeBlanc, our CFO. Our second quarter results package and other disclosure documents, including of today's news release, slide presentation as well as other documents issued earlier are available on BCE's Investor Relations web page. However, before we get started, I want to draw your attention to slide two, our safe harbor statement. Information in this presentation and remarks made by the speakers today will contain statements about expected future events and financial results that are forward-looking and therefore, subject to risks and uncertainties. These forward-looking statements represent our expectations as of today and accordingly are subject to change. We disclaim any obligation to update forward-looking statements, except as required by law. Factors that may affect future results are contained in BCE's filings with both the Canadian Securities Commissions and the SEC and are also available on our corporate website.

With that, over to Mirko.

Mirko Bibic

Good morning, everyone. Thanks, Thane. We're still in the midst of what continues to be a long journey for all of us, and the Bell team stepped up in Q2 by focusing on the operating principles that have guided our crisis response from the very start: keeping Canadians connected and informed, prioritizing the health and safety of the public, our customers and, of course, our team and supporting our customers and communities. I'm proud of the thousands of team members, who have been serving our customers at Bell workplaces and in the field since the crisis began. Against this backdrop, we delivered operating results for Q2 that underscore Bell's broadband network leadership to reinforce the critical nature of our services and demonstrate our ability to execute effectively under very difficult circumstances. Despite ongoing heavy demand for all our services, we have maintained Internet speeds and reliability, while continuing to operate our networks at a near-perfect 99.99% overall availability. We enabled work-from-home for about 90% of our employees, which included some 12,000 call center agents. By mid-April, service levels were back to what they were pre-COVID, and our call centers resumed full hours of operation at the beginning of June. In short, in a matter of a few weeks, we pivoted from full crisis mode to the stabilization phase. And now with Q2 behind us, we are focused on building momentum back into the business.

As Canada gradually reopens, our focus has been on ensuring customer access to our retail locations wherever possible. And as of now, 99% of our Bell, The Source and authorized dealer stores and kiosks are back in full operation. In Q2, we continued to grow broadband market share with more than 50,000 total net new wireless, retail Internet and IPTV customer additions.