- TELUS Corp TU reported third-quarter operating revenues and other income growth of 6.8% year-on-year to $3.38 billion (C$4.25 billion), missing the consensus of $3.48 billion.
- Total subscriber connections grew 5.9% Y/Y to 16.6 million.
- In the quarter, it added 320,000 new customer additions, up 43,000 over last year, and inclusive of 135,000 mobile phones, 110,000 connected devices, 46,000 internet, 30,000 security and 10,000 TV customer connections.
- Notably, blended mobile phone, PureFibre internet, Optik TV, Security, and voice churn were below 1% in Q3, while the postpaid mobile phone churn was 0.90%.
- Adjusted basic EPS of $0.28 (C$0.29) was in line with the consensus.
- Adjusted EBITDA increased by 7.1% Y/Y to C$1.6 billion.
- The company generated $203 million in free cash flow.
- The board raised the quarterly dividend by 5.2% to C$0.3274.
- Price action: TU shares traded higher by 2.53% at $23.30 on the last check Friday.
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