EarningsQ2 2026 Earnings Report
MX:TUN Q2 2026 EPS Results
Actual EPS$1.96
Consensus EPS$2.46
Beat/MissMissed by -$0.50
One Year Ago EPS$2.69
MX:TUN Q2 2026 Revenue Results
Actual Revenue$60.25B
Expected Revenue$61.84B
Beat/MissMissed by -$1.59B
YoY Revenue Growth-2.21%
Earnings Announcement Details
QuarterQ2 2026
Date07/31/2026
TimeBefore Open
Conference CallFriday, July 31, 2026
MX:TUN Upcoming Earnings
Telus's next earnings date is estimated for October 30, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
MX:TUN Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Negative
The call contained a mix of stabilizing operational elements in the core telecom business (flat TTech revenue/EBITDA, mobile revenue growth, improving ARPU trends, customer additions, and increased cash from operations) and decisive management actions (organizational changes, clear deleveraging targets and a capital reallocation plan). However, substantial negatives — notably a ~$2.1B TELUS Digital impairment, meaningful guidance downgrades, a 55% dividend cut, lower 2026 free cash flow, higher near-term CapEx, and leverage above target — materially weaken near-term financial momentum. Management presented a credible plan and explicit targets to fix these issues, but the magnitude of the financial setbacks and the sizable shareholder cash reduction weigh heavily on the immediate outlook.Company Guidance
Solid underlying telecom performance
TTech (core telecom) service revenue ~$3.3B was roughly flat year-over-year and adjusted EBITDA ~$1.6B was also relatively flat; mobile network revenue improved to $1.7B (up ~1%) marking the third consecutive quarter of mobile network revenue growth and ARPU deterioration decelerated to a stabilizing pace of <0.5%.
Customer adds and retention momentum
Mobile net phone additions of ~17,000 and internet net additions of ~20,000 in Q2, with postpaid churn stable and blended phone churn only slightly up (1.08%), demonstrating ongoing customer demand and disciplined premium-subscriber loading.
Cash generation and liquidity
Cash from operations increased ~15% year-over-year in Q2; free cash flow in Q2 was $545M (up ~2% year-over-year). Total available liquidity reported at ~$2.7B.
Strategic leadership and organizational simplification
New leadership appointments (Victor Dodig as CEO, Gopi Chande as CFO, Dave Fuller returning to lead TELUS Communications, Navin Arora leading Global Platforms) and a reorganization to simplify decision-making and align consumer/business telecom under a single leader.
Active portfolio monetization track record
Previous monetization: sale of a 49.9% stake in Terrion generated ~$1.26B proceeds in Sept 2025, reducing net debt/adjusted EBITDA by ~0.17 turns; management has active processes underway to monetize noncore assets (TELUS Health and real estate) to accelerate deleveraging.
TELUS Health and Agriculture growth
TELUS Health service revenue ~$533M grew ~4% year-over-year with adjusted EBITDA ~$99M up ~1%; Agriculture & Consumer Goods service revenue ~$90M increased ~6% year-over-year.
Clear financial priorities and targets
Management set explicit targets: reduce net debt/adjusted EBITDA to <=3.0x by end of 2028 and deliver minimum compounded annual free cash flow growth of 10% over 2027–2028; capital intensity multiyear target remains ~10%.
Decisive capital allocation actions
Dividend reset and DRIP changes designed to accelerate deleveraging and reallocate capital: expected cumulative cash savings from the dividend reset are ~ $2.7B through end of 2028.
MX:TUN Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed