Telus Profit Slides On Price War As Leadership Transition Nears
The results sharpen focus on potential changes to debt, assets or the dividend under incoming leaders.
Overview
- Telus reported $5.0 billion in first‑quarter revenue, flat from a year ago, with net income down about 52% to $144 million.
- Wireless growth stayed weak as net new phone subscribers reached 12,000, average monthly bills fell about 1%, and churn rose to 1.35% in a tough pricing fight.
- Free cash flow increased 19% to $583 million, long‑term debt declined to $26 billion, and the quarterly dividend held at 41 cents per share.
- Leadership is set to change with CFO Doug French leaving in June for Gopi Chande and CEO Darren Entwistle retiring at July’s end for Victor Dodig, a shift analysts say could lead to asset sales or a lower payout.
- Outside core telecom, Telus Health grew service revenue 11% and now reaches nearly 170 million people, and the first Sovereign AI facility in Quebec is full with a second planned for B.C.