Telus Corp

Latest Results (17.12.2024):

Revenue Growth

In the third quarter of 2024, Telus Corp reported a consolidated operating revenue increase of 1.8% compared to the same period last year, reaching $5.1 billion. This growth was primarily driven by higher service revenue and income from copper and real estate monetization within the Telus technology solutions (TTech) segment, despite a decline in the Telus digital experience segment.

Customer Additions

Telus Corp achieved industry-best total customer growth in the third quarter of 2024, with 347,000 net additions. This included 130,000 mobile phone customer additions and 159,000 connected device net additions. The company also reported robust fixed customer net additions of 58,000, driven by its leading Telus PureFibre network.

Profit and Earnings

For the third quarter of 2024, Telus Corp's net income and earnings per share saw significant increases of 88% and 111%, respectively. On an adjusted basis, these figures rose by 11% and 12%. The company also reported a 58% increase in consolidated free cash flow, highlighting strong financial performance.

Dividend Increase

Telus Corp announced a quarterly dividend increase to $0.4023, marking a 7.0% rise over the same period last year. This increase represents a dividend yield of approximately 7.7%, continuing the company's long-standing commitment to returning value to shareholders through its dividend growth program.

Financial Outlook

Telus Corp updated its 2024 target for TTech operating revenue growth to slightly below the lower end of the original range. However, the targets for TTech Adjusted EBITDA, along with consolidated targets for capital expenditures and free cash flow, remain unchanged from the second quarter 2024 results. The company continues to focus on cost efficiency and margin expansion.