Q2 2024 Telus Corp Earnings Call Transcript
Key Points
- TELUS Corp (TU) achieved a record second quarter with total customer net additions of 332,000, up 13% year-over-year.
- Resilient EBITDA growth of 5.6% and margin expansion of 170 basis points were reported.
- TELUS Corp (TU) saw strong mobile subscriber growth, including record second quarter connected device net additions of 161,000, a 30% increase year-over-year.
- TELUS Health returned to positive top-line growth of 4% and delivered over 33% adjusted EBITDA contribution growth.
- TELUS Corp (TU) is making significant progress in its copper decommissioning program, with 36 central offices expected to be decommissioned by the end of the year, leading to substantial cost savings and operational efficiencies.
- Wireless ARPU declined by 3.4% year-over-year due to intense promotional market activity and heightened competition.
- TELUS Digital (formerly TELUS International) faced a challenging macroeconomic environment, leading to a 7.9% decline in external operating revenues year-over-year.
- Fixed data services revenue grew by only 1% year-over-year, indicating slower growth in this segment.
- TELUS Corp (TU) is experiencing ongoing competitive pricing pressures, impacting network revenue growth.
- The company is not satisfied with its current ARPU performance and is facing challenges in improving it amidst a highly competitive environment.
Good day. Welcome to the TELUS 2024 Q2 earnings conference call.
I would like to introduce your speaker, Mr. Robert Mitchell. Please go ahead.
Hello, everyone. Thank you for joining us today. Our second quarter 2024 results news release, MD&A, and financial statements and detailed supplemental investor information were posted to our website earlier this morning.
On our call today, we'll begin with remarks by Darren and Doug. For the Q&A portion, we'll be joined by other members of our leadership team.
Briefly, prepared remarks, slides, and answers to questions contain forward-looking statements. Actual results could vary materially from these statements, the assumptions in which they are based and the material risks that could cause them to differ are our public filings with Securities Commissions in Canada and the US, including second quarter 2024 and annual 2023 MD&A.
With that, over to you, Darren.
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