Canada · Delayed Price · Currency is CAD TELUS Earnings Call Transcripts
Fiscal Year 2026
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The conference highlighted a stable strategic direction amid a CEO transition, with a focus on executing current plans, de-leveraging, and digital growth. AI and digital services are set for significant expansion, while asset monetization and DRIP reduction remain priorities.
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Management is focused on a seamless CEO transition, maintaining operational momentum, and executing on deleveraging and monetization plans. Wireless and fixed businesses emphasize value, bundling, and digital innovation, with capital intensity targeted at 10% or less.
Fiscal Year 2025
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Q4 and full-year 2025 saw strong customer growth, record free cash flow, and industry-leading churn, with double-digit growth in digital and health segments. 2026 guidance targets up to 4% revenue and EBITDA growth, continued deleveraging, and robust AI-driven expansion.
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The event highlighted a focus on fibre-driven growth, digital and AI investments, and expanding health care and SMB segments. ARPU recovery is gradual, with stable CapEx and a clear deleveraging plan supported by asset monetization and cost efficiencies.
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Q3 2025 saw robust customer and financial growth, with industry-best churn, strong EBITDA, and expanding AI and digital capabilities. Free cash flow rose 8%, and the company remains on track for its leverage and capital intensity targets.
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Consistent strategy centers on network quality, customer service, and relevant product innovation, with growth driven by early fiber investment, digital transformation, and expansion into Eastern Canada. Asset monetization and operational efficiency support deleveraging and profitability.
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Q2 2025 saw strong customer and financial growth, with robust EBITDA, free cash flow, and industry-leading net adds. Monetization of tower assets and ongoing deleveraging support a positive outlook, while diversification and AI initiatives drive resilience and future growth.
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Resilient growth is driven by diversified assets, cost efficiencies, and strategic partnerships. Deleveraging targets are supported by asset sales and operational improvements, while healthcare and IoT are key growth engines. CapEx intensity and dividend payout are set to decline by 2026–2028.
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Industry-leading customer growth and resilient financials were delivered amid competitive pressures, with strong performance in health and agriculture segments. Free cash flow rose 22%, dividend was increased, and deleveraging remains a key focus.
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The AGM celebrated a milestone anniversary, reported strong financial and operational results, and approved all key motions including board elections, auditor appointment, executive compensation, and the shareholder rights plan. Major investments and strategic AI initiatives were announced.
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EBITDA growth of 3–5% is expected for 2025, led by telecom, ag, and health, with fiber and digitization driving efficiency. Deleveraging to 3.0x by 2027 is targeted through free cash flow and asset monetization, while capital allocation will prioritize shareholder returns.
Fiscal Year 2024
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Strong customer and financial growth in 2024, with over 1.2 million net new additions and robust EBITDA gains. 2025 guidance targets continued revenue and EBITDA growth, disciplined capital spending, and a focus on deleveraging and asset monetization, despite ongoing ARPU and market pressures.
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Industry-leading customer growth and loyalty drove solid Q3 results, with EBITDA and free cash flow up year-over-year. Despite ARPU pressure from competitive pricing, strong performance in Health and Agriculture, cost efficiencies, and real estate monetization supported profitability and a 7% dividend increase.
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Strategy centers on customer service, fiber monetization, and operational efficiency, with strong wireless and fiber loading but flat ARPU growth. Real estate and copper decommissioning offer new monetization streams, while bundling and digital initiatives drive future margin growth.
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Record customer growth and strong EBITDA margin expansion were achieved despite revenue pressures from intense competition. Cost efficiency programs, digital transformation, and product innovation drove profitability, while guidance was reaffirmed at the lower end for 2024.