TELUS Posts Wider Loss In Q2

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(RTTNews) - TELUS (T.TO, TU) reported a second quarter net loss of C$1.83 billion compared to a loss of C$245 million, a year ago. Net loss attributable to common shares was C$1.84 billion versus profit of C$7 million in the comparable period. Basic loss per share was C$1.17 compared to breakeven in the prior year. Net loss was due to a pre-tax, non-cash intangible asset and goodwill impairment of C$2.1 billion in the second quarter. Adjusted EBITDA fell 2% to C$1.78 billion from C$1.81 billion. Adjusted Net income declined to C$254 million from C$342 million. Adjusted basic profit per share declined 27% to C$0.16 from C$0.22.

Operating revenues from contracts with customers declined to C$4.92 billion in the second quarter from C$5.03 billion in the prior-year quarter, representing a 2% decrease. Operating revenues and other income fell 3% to C$4.93 billion from C$5.08 billion.

For 2026, the company now expects consolidated Adjusted EBITDA to decline by 2 to 4 percent, revised from prior growth guidance range of 2% to 4%. Consolidated service revenue growth guidance has been updated to a range of flat to a decline of 2%, from prior growth guidance range of 2% to 4%.

TELUS said it is conducting a comprehensive review of its asset portfolio. As part of this effort, the company remains active in the market on TELUS Health-related non-core assets and is in discussions with interested parties. Also, the company is advancing the monetization of non-core real estate assets.

In pre-market trading on NYSE, TELUS shares are down 2.78 percent to $10.48.

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