BT Group PLC

BT.A: XLON (GBR)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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BT Earnings: BT’s Cost Plan Buys Some Time, but This Can’t Go On Forever

Javier Correonero

Feb 5, 2026

BT’s cost transformation remains a crucial floor for EBITDA and is offsetting poor sales performance across the board. A 4% year-to-date group sales decline has been translated into an astonishing flattish EBITDA growth thanks to BT’s cost focus.

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BT Group PLC

BT Earnings: BT’s Cost Plan Buys Some Time, but This Can’t Go On Forever

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