Telus Sparkles With Strong Customer Growth In Q3, Dividend Climbs In Strategic Cost-Cutting Push
Portfolio Pulse from Akanksha Bakshi
Telus Corp (NYSE:TU) reported a 7.2% YoY increase in Q3 FY23 operating revenues to $3.73 billion, driven by higher volumes and project ramp-ups across key clients. The company's Health business unit reported Q3 revenues of $422 million, with a 20% EBITDA growth. Total telecom subscriber connections grew 7.2% YoY to 18.94 million, with 406,000 new customer net additions in the quarter. The company's Board declared a quarterly dividend of $0.3761 per share, reflecting a 7.1% increase from the previous year. Telus reaffirmed its FY23 outlook, expecting operating revenue growth of 9.5%-11.5%, Adjusted EBITDA growth of 7%-8%, and Free cash flow of ~1.5 billion.
November 03, 2023 | 4:11 pm
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POSITIVE IMPACT
Telus Corp reported strong Q3 FY23 results with significant growth in revenues and customer base. The company also increased its dividend by 7.1% YoY. The reaffirmed FY23 outlook indicates continued growth.
Telus Corp's strong Q3 FY23 results, driven by higher volumes and project ramp-ups, indicate a positive outlook for the company. The increase in dividend and the reaffirmed FY23 outlook further strengthen this view. Therefore, the short-term impact on the company's stock is likely to be positive.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100