Telus Clocks 6.4% Revenue Growth In Q1

Telus Corp TU T reported first-quarter FY22 operating revenues and other income growth of 6.4% year-on-year to C$4.28 billion.
Total telecom subscriber connections grew 5.8% Y/Y to 17 million.
In the quarter, it made 148,000 new customer additions, up 3,000 over last year, and inclusive of 46,000 mobile phones, 46,000 connected devices, 30,000 internet, 26,000 security and 10,000 TV customer connections. The mobile phone churn was 0.81%.
Adjusted basic EPS was C$0.30, up 11% Y/Y.
Adjusted EBITDA increased by 7% Y/Y to C$1.61 billion.
The company generated C$1.14 billion in operating cash flow and C$415 million in free cash flow.
The board raised the quarterly dividend by 7.1% to C$0.3386 per share.
Telus reiterated its 2022 financial guidance, targeting operating revenue and adjusted EBITDA growth of 8% - 10%, along with free cash flow of C$1 billion - C$1.2 billion.
Price Action: TU shares closed lower by 2.11% at $24.64 on Thursday.

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