Telus Corp
NYSE:TU
Telus Corp
In the vibrant tapestry of Canada's telecom sector, Telus Corp. stands out as a key player, weaving a network that ties communities and businesses together. Founded in 1990, it has consistently been at the forefront of innovation in telecommunications. Telus operates through two primary segments: Wireless and Wireline. The Wireless segment provides mobile network services, including data and voice plans, which form the backbone of its consumer offerings. The Wireline segment offers an array of services—everything from high-speed internet and IPTV to voice services for residential and business customers. This diversified approach ensures that Telus not only maintains a competitive position in the fast-paced telecommunications landscape but also creates synergies between its platforms, enriching user experience and customer loyalty.
Crucial to Telus’s business strategy is its focus on technology and community commitment. The company heavily invests in expanding its fiber optic infrastructure and rolling out 5G networks, anticipating the insatiable demand for faster, more reliable connectivity. Yet, unlike many corporations that chase profits above all else, Telus adopts a unique philosophy, channeling its corporate energy into social responsibility and sustainability. Its revenue model extends beyond the traditional avenues, tapping into areas such as health services and agriculture technology, aimed at leveraging digital solutions for real-world problems. This strategy not only diversifies Telus's revenue streams but also reinforces its reputation as a socially responsible corporate citizen, intertwining business success with societal well-being.
In the vibrant tapestry of Canada's telecom sector, Telus Corp. stands out as a key player, weaving a network that ties communities and businesses together. Founded in 1990, it has consistently been at the forefront of innovation in telecommunications. Telus operates through two primary segments: Wireless and Wireline. The Wireless segment provides mobile network services, including data and voice plans, which form the backbone of its consumer offerings. The Wireline segment offers an array of services—everything from high-speed internet and IPTV to voice services for residential and business customers. This diversified approach ensures that Telus not only maintains a competitive position in the fast-paced telecommunications landscape but also creates synergies between its platforms, enriching user experience and customer loyalty.
Crucial to Telus’s business strategy is its focus on technology and community commitment. The company heavily invests in expanding its fiber optic infrastructure and rolling out 5G networks, anticipating the insatiable demand for faster, more reliable connectivity. Yet, unlike many corporations that chase profits above all else, Telus adopts a unique philosophy, channeling its corporate energy into social responsibility and sustainability. Its revenue model extends beyond the traditional avenues, tapping into areas such as health services and agriculture technology, aimed at leveraging digital solutions for real-world problems. This strategy not only diversifies Telus's revenue streams but also reinforces its reputation as a socially responsible corporate citizen, intertwining business success with societal well-being.
Leadership Change: CEO Darren Entwistle announced his retirement effective June 2026. Victor Dodig, former CEO of CIBC, will become CEO in July 2026.
Strong Subscriber Growth: TELUS added a record 1.1 million net new mobile and fixed customers in 2025, marking its fourth consecutive year above 1 million.
Free Cash Flow: Achieved record free cash flow of $2.2 billion in 2025, up 11% from 2024 and exceeding the annual target.
Operational Performance: TTech adjusted EBITDA (including Health) grew 3.1% for 2025, within guidance. Fourth-quarter margin expanded 240 basis points to 40.9%.
ARPU Stabilizing: Wireless ARPU declined 1.6% year-over-year but showed the fastest sequential improvement in the industry, with management expecting further progress.
AI & Digital Momentum: AI-enabling capabilities revenue grew 44% to $229 million in Q4 and 35% for the year; double-digit EBITDA growth is expected in TELUS Digital and Health for 2026.
Guidance & Outlook: For 2026, TELUS guided to 2–4% consolidated service revenue and EBITDA growth, free cash flow of ~$2.45 billion (up ~10%), and capital expenditures of $2.3 billion.
Deleveraging Progress: Net debt-to-EBITDA fell to 3.4x at year-end from 3.9x, with targets to reach 3.3x or lower by end of 2026 and 3x or better by end of 2027.
