Quebecor (QB3) Q2 2026 Earnings Report
DE:QB3 Q2 2026 EPS Results
- Actual EPS
- EUR 0.68
- Consensus EPS
- EUR 0.71
- Beat/Miss
- Missed by -EUR 0.02
- One Year Ago EPS
- EUR 0.63
DE:QB3 Q2 2026 Revenue Results
- Actual Revenue
- EUR 920.17M
- Expected Revenue
- EUR 905.53M
- Beat/Miss
- Beat by +EUR 14.63M
- YoY Revenue Growth
- +4.33%
Earnings Announcement Details
- Quarter
- Q2 2026
- Date
- 08/06/2026
- Time
- Before Open
- Conference Call
- Thursday, August 6, 2026
Quebecor's next earnings date is estimated for November 5, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
Q2 2026 Earnings Slide Deck
No slide deck is available for this earnings event.
Q2 2026 Earnings Call Summary
The call conveyed a broadly positive operational and financial story: solid revenue and profit growth, strong free cash flow, record Telecom performance, accelerating subscriber additions and ARPU gains, continued network investment and a conservative, low-leverage balance sheet supporting buybacks and a dividend increase. Notable concerns centered on media industry structural headwinds, elevated stock-based compensation that depressed reported EBITDA, modest contribution/near-term uncertainty from the Etiya acquisition, and ongoing competitive pressures in certain product lines. Overall the positives (broad financial improvement, cash generation, balance sheet strength, and clear growth runway for wireless) outweighed the negatives.
Quebecor guided to stable-to-slightly-better free cash flow year‑over‑year and reiterated its 2026 CapEx guidance, saying it expects to meet annual targets despite some quarter‑to‑quarter timing, noting Q2 telecom CapEx (ex‑spectrum) rose 12% (+$18M) and total CapEx in the quarter was $174M; Q2 free cash flow was $419M (+$44M, +12%), cash from operations $570M (+$32M, +6%), consolidated revenues $1.44B (+4%), reported EBITDA $627M (+$22M, +4%) and EBITDA excluding share‑based compensation $691M (+$62M, +10%). Management reaffirmed its balance‑sheet focus — net debt/EBITDA at 2.87x, available liquidity $926M, US$1B commercial paper program fully operational, term‑loan repayments of $500M + $300M + $100M completed in the period — and signaled continued capital allocation to deleveraging, a renewed NCIB (3.1M Class B shares repurchased YTD for $185M and nearly $100M repurchased in the quarter) and a raised quarterly dividend to $0.45/share (up 12.5%).
- Consolidated revenue and profit growthConsolidated revenues rose 4% year-over-year to $1.44 billion, consolidated EBITDA increased 4% to $627 million, and net income attributable to shareholders grew to $271 million (up ~24% YoY). Adjusted EBITDA excluding stock-based compensation improved by $62 million or 10% to $691 million.
- Free cash flow and operating cash generationFree cash flow increased $44 million or 12% to $419 million. Cash flows provided by operating activities rose $32 million or 6% to $570 million, demonstrating strong cash conversion and recurring cash generation.
- Record quarter for Telecom segmentTelecom delivered a record Q2 with adjusted EBITDA of $642 million (up $32 million or 5% YoY) and an adjusted EBITDA margin of 52% (improvement of 60 basis points). Telecom service revenues were $1.03 billion, up 4%.
- Wireless strength: subscribers and ARPUAdded 53,200 net mobile subscribers in Q2 (acceleration from 28,800 in Q1). Consolidated mobile ARPU increased by $0.86 or 2.5% YoY to $35.62, while wireless service revenues rose 9% to $476 million.
- Improving operating leverage and cost disciplineOperating expenses fell to 48% of revenue from 48.6% a year earlier (year-to-date 48.5% vs 49.3%), driving adjusted EBITDA growth faster than revenue. Management highlighted continued cost optimization (including expected AI/BSS efficiencies).
- Balance sheet strength and liquidity actionsNet debt-to-EBITDA ratio remained stable at 2.87x — the lowest among Canadian peers per management. Available liquidity was $926 million. Company repaid material debt tranches and activated a USD 1 billion commercial paper program to diversify funding.
- Shareholder returnsBoard increased the quarterly dividend by 12.5% from $0.40 to $0.45 per share. The NCIB was renewed; during H1 the company purchased and cancelled 3.1 million Class B shares for $185 million and executed additional buybacks (~$100 million cited for the quarter).
- Strategic acquisition: majority stake in EtiyaIncreased equity interest to a majority (cited ~70%) in Etiya, a BSS/OSS software company (management notes it is a >$100M revenue company). Management expects the asset to drive BSS transformation, AI-enabled efficiencies, and potential incremental revenue from external customers.
- Media segment turnaround in quarterMedia revenues improved 6% to $185 million and adjusted EBITDA rose $18 million to $27 million, driven primarily by TVA Sports (benefitting from the Montreal Canadiens' playoff run) and cost efficiency initiatives.
DE:QB3 Earnings History
| Report Date | Fiscal Quarter | Forecast / EPS | Last Year's EPS | EPS YoY Change | Press Release |
|---|---|---|---|---|---|
| Nov 05, 2026 | 2026 (Q3) | 0.77- | 0.67 | ― | ― |
| Aug 06, 2026 | 2026 (Q2) | 0.710.68 | 0.63 | 8.08% (+0.05) | |
| May 14, 2026 | 2026 (Q1) | 0.600.62 | 0.51 | 21.25% (+0.11) | |
| Feb 26, 2026 | 2025 (Q4) | 0.620.63 | 0.51 | 23.75% (+0.12) | |
| Nov 06, 2025 | 2025 (Q3) | 0.630.67 | 0.52 | 28.05% (+0.15) | |
| Aug 07, 2025 | 2025 (Q2) | 0.610.63 | 0.57 | 11.24% (+0.06) | |
| May 08, 2025 | 2025 (Q1) | 0.450.51 | 0.45 | 12.68% (+0.06) | |
| Feb 27, 2025 | 2024 (Q4) | 0.470.51 | 0.47 | 9.59% (+0.04) | |
| Nov 07, 2024 | 2024 (Q3) | 0.520.52 | 0.56 | -6.82% (-0.04) | |
| Aug 08, 2024 | 2024 (Q2) | 0.530.57 | 0.5 | 12.66% (+0.06) |
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
