Quarterly ResultMay 8, 2026, 07:12 AM
TELUS Q1 2026 Customer Growth 262K; Adj. EPS $0.23; FCF +19%
AI Summary
TELUS reported mixed operational and financial results for Q1 2026, with industry-leading total Mobile and Fixed customer growth of 262,000 and a 19% increase in Free Cash Flow to $583 million. Consolidated Service revenue grew 1% and Adjusted EBITDA was stable at $1.8 billion, reflecting business resilience. However, net income decreased 52% to $144 million and adjusted basic EPS fell 12% to $0.23. The company reaffirmed its key 2026 financial targets and is advancing its balance sheet deleveraging strategy, including exploring strategic partnership opportunities for TELUS Health and expanding its Sovereign AI Factories.
Key Highlights
- Total Mobile and Fixed customer growth reached 262,000 in Q1 2026.
- Consolidated Service revenue grew 1%, while Consolidated Adjusted EBITDA remained stable at $1.8 billion.
- Free Cash Flow increased 19% to $583 million in the first quarter.
- Adjusted basic EPS was $0.23, a decrease of 12% year-over-year.
- Net income declined 52% to $144 million compared to the prior year.
- Reaffirmed 2026 targets: Service revenue growth 2-4%, Adjusted EBITDA growth 2-4%, FCF $2.45B (10% growth), Capex $2.3B (10% decrease).
- TELUS Health achieved 11% growth in service revenue and Adjusted EBITDA.
- Sovereign AI Factory in Rimouski sold out; second facility launching in Kamloops, BC.
Price Impact
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