TELUS Corp (Pre-merger) Earnings
TELUS Corporation has demonstrated robust financial performance in the third quarter of 2025, balancing growth and operational efficiency. The company delivered impressive gains in customer growth across its mobile and fixed services, leveraged its investments in PureFibre connectivity, and posted notable improvements in TELUS Health's global strategy execution. These achievements are underscored by TELUS's unwavering commitment to elevating customer experiences and delivering shareholder value through sustainable profit growth and increased dividends.
TELUS Corp (Pre-merger) Results
The following table summarizes TELUS Corporation's key financial metrics for Q3 2025:
| Metric | Q3 2025 | YoY Change (%) |
|---|---|---|
| Consolidated Revenue | $5.1B | Flat |
| Net Income | $431M | +68% |
| Basic Earnings Per Share | $0.32 | +68% |
| Adjusted Net Income | $370M | -10% |
| Adjusted EPS | $0.24 | -14% |
| EBITDA | $1.8B | Flat |
| Adjusted EBITDA | $1.9B | +1% |
| Free Cash Flow | $611M | +8% |
| Dividend per Share | $0.4184 | +4% |
Revenue Breakdown
The revenue performance across TELUS's segments is detailed below:
| Segment | Revenue ($M) | YoY Change (%) |
|---|---|---|
| TTech | N/A | -2% |
| TELUS Health | N/A | +18% |
| TELUS Digital | N/A | +5% |
Analysis
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TTech: TELUS's TTech segment, although experiencing a decrease in revenue due to lower mobile equipment sales, witnessed a 2% growth in Adjusted EBITDA. This growth is a testament to the company's strategic focus on cost efficiency and expanding customer base across mobile, internet, and automation services.
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TELUS Health: The standout performer was TELUS Health, which achieved 18% revenue growth driven by global acquisitions and rising demand for virtual care solutions. The Adjusted EBITDA growth of 24% reflects effective cost management and synergy realization from strategic investments.
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TELUS Digital: This segment showed a 5% increase in revenue, primarily due to favorable foreign currency impacts and growth in services to existing clients. However, the segment faced challenges in maintaining its EBITDA margin due to rising operational costs.
Key Developments
In the third quarter of 2025, TELUS Corp reached significant milestones and made strategic moves to enhance its market position:
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Customer Growth: The company added 288,000 mobile and fixed customers, supported by TELUS PureFibre connectivity's national expansion and strategic service bundling.
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Strategic Transactions: The completion of a partnership with La Caisse to form Terrion, Canada's largest wireless tower operator, enhances TELUS's wireless reach. This transaction also supports TELUS's financial strategy by contributing to balance sheet strength.
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Operational Highlights: TELUS celebrated the planting of 25 million trees, emphasizing its commitment to sustainability and environmental responsibility.
Comments from Company Officers
Darren Entwistle, President and CEO of TELUS, praised the quarter's achievements, highlighting the synergy between TELUS's connectivity services and digital transformation initiatives. He stated, "We are delivering far more than connectivity — we are empowering Canadians with transformative digital experiences that enhance productivity and quality of life." Doug French, Executive Vice-President and CFO, noted the continued focus on strategic execution and cost management, adding, "Our third quarter performance reflects disciplined cost management and robust customer growth across our service offerings."
Dividends and Share Repurchases
TELUS's commitment to returning value to its shareholders is evident in its increased quarterly dividend of $0.4184 per share, representing a 4% increase year-over-year. Over the first nine months of 2025, TELUS declared $1.9 billion in dividends, underscoring its robust capital return strategy.
TELUS Corp (Pre-merger) Stock Forecast
Given TELUS's current trajectory and strategic initiatives, the company's stock is poised for sustainable growth. The stock price projection ranges between a low of $26 CAD, reflecting potential market fluctuations, and a high of $34 CAD, considering the successful execution of its growth strategy and favorable industry trends. Key drivers for this forecast include TELUS's operational robustness, expanding digital solutions, and strategic investments in connectivity.
Conclusion
TELUS Corporation's third-quarter 2025 performance underscores its strength in navigating a dynamic market landscape through strategic focus and operational excellence. With a commitment to growth, innovation, and social responsibility, TELUS is well-positioned to continue delivering value to its customers, shareholders, and the broader community.
