TELUS Reports Third Quarter 2026 Results, Demonstrates Continued Discipline in Core Telecom; Advances Transformation Strategy

Victor Dodig, President and Chief Executive Officer of TELUS

“Since our second quarter earnings call, our core telecom business has shown clear signs of stabilization and we have made important progress on the execution of our Transformation Strategy”

Victor Dodig, President and Chief Executive Officer of TELUS

“Our strategy has one clear objective: returning TELUS to a leading communications and AI infrastructure player in Canada. We've identified specific levers to structurally transform TELUS, and we're moving with clarity and urgency to strengthen our financial foundation, hone our operational discipline and control costs, and deploy resources to drive profitable and sustainable growth and returns.”

Victor Dodig, President and Chief Executive Officer of TELUS

“To this end, we are launching a multi-year efficiency program targeting approximately $900 million in annualized cash savings exiting 2028, which will support balance sheet deleveraging and sustainable profitability for the long term. I am confident that our Transformation Strategy will establish TELUS as a leaner, more focused business better positioned to deliver sustainable, profitable growth and long-term shareholder value,”

Gopi Chande, Chief Financial Officer of TELUS

“Our third quarter results are in line with the expectations we set in July, and we are reaffirming our full-year 2026 annual targets”

Gopi Chande, Chief Financial Officer of TELUS

“The efficiency program we announced today is expected to structurally improve our earnings power and free cash flow, giving us the flexibility to reduce debt while continuing to invest in the business. Together with the dividend reset, and removal of the DRIP discount that we announced in July, coupled with our active asset monetization program, our plan creates a clear path to achieving our net debt to Adjusted EBITDA leverage target of 3.0-times or lower by year-end 2028.”