Q2 2024 Telus International Cda Inc Earnings Call Transcript
Key Points
- TELUS International (Cda) Inc (TIXT) announced the retirement of Jeff Puritt, President and CEO, who will transition to the role of Executive Vice Chair of the Board, focusing on corporate development activities.
- Jason Macdonnell, with a proven track record in customer service transformation, will succeed Jeff Puritt as CEO, bringing extensive experience in digital transformation and operational excellence.
- The company's AI-related business showed strong performance, with revenue growing 13% in the first half of the year.
- TELUS International (Cda) Inc (TIXT) reported free cash flow as a percentage of revenue at 15% for both the quarter and the first half of the year.
- The company continues to see meaningful growth with its top two clients, TELUS and Google, which collectively accounted for 39% of total revenue in the first half of the year.
- TELUS International (Cda) Inc (TIXT) revised its financial outlook for the full year 2024 due to continued pressures from a challenging macroeconomic environment and fierce competition.
- The pace of new client bookings slowed in the second quarter despite a strong sales funnel, impacting overall revenue growth.
- The company experienced softer demand volumes across much of its broader client base, leading to revenue declines.
- Efforts to stabilize and return one of the top three clients to growth have come at the cost of a meaningful margin rerate for 2024.
- Higher attrition and wage inflation, particularly in Europe, have put additional pressure on margins and operating expenses.
Good day. Welcome to the TELUS Digital Experiences Q2 2024 investor call.
I would like to introduce your speaker, Ms. Olena Lobach. Please go ahead.
Thank you, Karl, and good morning, everyone. Thank you for joining us today for the TELUS Digital second-quarter 2024 investor call. Joining our call today will be Darren Entwistle, Chair of the TELUS Digital Board of Directors, along with Jeff Puritt, President and CEO; and Gopi Chande, our Chief Financial Officer.
We also have Jason Macdonnell, Senior Vice President of Customer Service Excellence at TELUS; and Tobias Dengel, President of WillowTree. We will open with Darren, Jason, and Tobias, providing brief introductory remarks.
After that, Jeff and Gopi will continue the call with an overview of the results. And Tobias will join them to answer your questions before we turn the call back to Jeff for his closing remarks.
For our cautionary statements and further context on certain non-GAAP measures used during
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