Telus Corp

Latest Results (29.08.2026):

Telus Corp — second quarter 2026: Telus Corp reported a Q2 2026 net loss of $1.8 billion driven by a $2.1 billion pre‑tax, non‑cash impairment in TELUS Digital, while operating performance showed modest revenue and EBITDA declines, solid cash generation and a major reset of the dividend to strengthen the balance sheet and support a path to lower leverage.

Headline financials

Consolidated service revenue was $4.4 billion (down ~1% year‑over‑year). Adjusted EBITDA was $1.8 billion (down ~2%). Net income was a loss of $1.8 billion due primarily to a $2.1 billion impairment charge to TELUS Digital.

Cash flow and leverage

Cash provided by operating activities was $1.3 billion (up 15%). Free cash flow for the quarter was $545 million (up 2%). Net debt / Adjusted EBITDA was 3.5x at quarter‑end, with a target of ~3.0x or lower by year‑end 2028.

Dividend and shareholder actions

The Board reset the quarterly dividend by 55% to $0.1875 per common share (annualized $0.75), expected to generate ~ $2.7 billion cumulative cash savings through 2028 for debt reduction. The DRIP discount will be removed effective October 1, 2026, to reduce shareholder dilution.

Guidance and capital allocation

2026 guidance revised: consolidated service revenue now expected flat to negative 2%; consolidated Adjusted EBITDA expected down 2% to down 4%; full‑year free cash flow anticipated at approximately $1.8 billion. Full‑year capex updated to ~ $2.6 billion (Q2 capex $678 million).

Operating performance — networks & customers

Mobile network revenue was $1.7 billion (up 1% Y/Y). Mobile phone net additions were 17,000 and internet net additions were 20,000; connected device net additions were 187,000. Blended mobile phone churn was 1.08% (vs. 1.06% a year ago). Mobile ARPU was $56.36, declining at a decelerating rate of 0.4%.

Impairment detail

The $2.1 billion pre‑tax impairment was a non‑cash intangible asset and goodwill write‑down related to the TELUS Digital cash‑generating unit, which drove the quarter’s net loss.

Strategic priorities

Telus announced three near‑term priorities: strengthen the financial foundation; hone operational discipline and reinvest in the core; and deploy resources to drive profitable, sustainable growth. Management frames the dividend reset, DRIP change and asset monetization as central to achieving those goals.