Core Insights - TELUS Corporation reported a total customer growth of 198,000 in the second quarter of 2025, driven by strong demand for bundled services and expansion of TELUS PureFibre connectivity [1][3] - The company achieved operating revenue growth of 2% to $5.1 billion and adjusted EBITDA growth of 4%, indicating a robust diversified business portfolio [2][12] - TELUS Health segment saw significant growth, with operating revenue and adjusted EBITDA increasing by 16% and 29% respectively, covering 157 million lives globally [3][8] Financial Performance - Consolidated free cash flow increased by 11% to $535 million, reflecting improved operational efficiency [1][9] - Operating revenues from TTech, including TELUS Health, rose by 2% while adjusted EBITDA grew by 4%, aligning with the company's financial targets for 2025 [2][6] - The company recognized a net loss of $245 million due to a $500 million impairment of goodwill related to TELUS Digital, but adjusted net income was $342 million, down 7% year-over-year [5][12] Customer Growth and Segments - TELUS added 198,000 net customers, with mobile phone and connected device additions contributing significantly [3][7] - The total TTech subscriber base reached 20.5 million, a 5% increase year-over-year, with notable growth in mobile phones and connected devices [7][12] - TELUS Health's healthcare lives covered increased by 82 million over the past year, primarily due to the acquisition of Workplace Options [8][24] Capital Expenditures and Investments - Consolidated capital expenditures were $678 million, a decrease of 2% from the previous year, with a focus on TTech operations and TELUS Health expansions [10][12] - The company announced a definitive agreement with La Caisse to acquire a 49.9% interest in a new wireless tower operator for $1.26 billion, aimed at monetizing its tower infrastructure [2][4] Strategic Outlook - TELUS reaffirmed its 2025 financial targets, including operating revenue growth of 2-4% and adjusted EBITDA growth of 3-5% [1][2] - The company aims to achieve a net debt to EBITDA ratio of 3 times by 2027, supported by ongoing asset monetization initiatives [4][6] - TELUS continues to focus on customer expansion, product innovation, and service enhancement to drive long-term value creation [4][6]

Core Insights - Investors are comparing Telefonica Brasil (VIV) and Telus (TU) for potential value opportunities in the Diversified Communication Services sector [1] Group 1: Zacks Rank and Earnings Outlook - Telefonica Brasil has a Zacks Rank of 2 (Buy), indicating a positive earnings outlook, while Telus has a Zacks Rank of 3 (Hold) [3] - The Zacks Rank is based on recent positive revisions to earnings estimates, suggesting that VIV has an improving earnings outlook [3] Group 2: Valuation Metrics - VIV has a forward P/E ratio of 16.19, significantly lower than TU's forward P/E of 21.74 [5] - The PEG ratio for VIV is 0.74, indicating better value compared to TU's PEG ratio of 4.99, which factors in expected earnings growth [5] - VIV's P/B ratio is 1.57, while TU's P/B ratio is 2.13, further highlighting VIV's relative undervaluation [6] Group 3: Value Grades - Based on various valuation metrics, VIV holds a Value grade of A, whereas TU has a Value grade of C, suggesting that VIV is the more attractive option for value investors [6]

Core Insights - TELUS Agriculture & Consumer Goods and Welch's have established a transformative 10-year partnership aimed at enhancing regulatory compliance and supply chain transparency in the food industry [1][2] - The collaboration will leverage TELUS's agricultural technology solutions to create a data-driven compliance framework, improving operational efficiency and meeting international regulatory standards [3][4] Company Overview - TELUS Agriculture & Consumer Goods is a leading provider of digital solutions and data insights, serving customers in over 50 countries with integrated analytics and supply chain management solutions [6] - Welch's, owned by a cooperative of U.S. family farmers, is recognized for its fruit-based products, including Concord grape juices and jams, and has a commitment to quality and innovation [8][10] Partnership Details - The partnership will deploy a compliance platform in phases, supporting Welch's network of over 700 grape growers in the U.S. and enhancing traceability across its products sold in over 40 countries [5] - The innovative solution will automate compliance validation and real-time monitoring, addressing the complexities of modern food systems and regulatory requirements [3][4]

Core Viewpoint - The market anticipates a year-over-year decline in Telus's earnings despite an increase in revenues, with actual results being crucial for stock price movement [1][2]. Earnings Expectations - Telus is expected to report quarterly earnings of $0.17 per share, reflecting a year-over-year decrease of 5.6%, while revenues are projected to be $3.68 billion, up 1.2% from the previous year [3]. Estimate Revisions - The consensus EPS estimate has remained unchanged over the last 30 days, indicating a stable outlook from covering analysts [4]. Earnings Surprise Prediction - The Most Accurate Estimate for Telus is lower than the Zacks Consensus Estimate, resulting in an Earnings ESP of -6.63%, suggesting a bearish sentiment among analysts [12]. Historical Performance - In the last reported quarter, Telus exceeded expectations by posting earnings of $0.18 per share against an expected $0.15, achieving a surprise of +20.00% [13]. Over the last four quarters, the company has consistently beaten consensus EPS estimates [14]. Investment Considerations - Despite the potential for an earnings miss, other factors may influence stock performance, making it essential to consider the Earnings ESP and Zacks Rank before making investment decisions [15][16].

Core Insights - TELUS participated in the United Nations AI for Good Global Summit 2025, showcasing its commitment to responsible AI development and ethical technology innovation [1][2][5] - The company is a member of the International Telecommunication Union (ITU)-led AI Skills Coalition, aiming to close the AI skills gap globally [2][4] - TELUS emphasizes a human-centric approach to AI, focusing on building trust through transparent data practices and collaboration with Indigenous Peoples [3][4][6] Company Initiatives - TELUS hosted a workshop titled "Crafting ethical AI with Indigenous intelligence," demonstrating its collaboration with Indigenous Peoples to create meaningful AI practices [3][4] - The company has developed a generative AI customer support tool, Fuel iX, and achieved ISO 31700-1 Privacy by Design certification, highlighting its leadership in responsible AI development [5][6] - TELUS is launching Sovereign AI Factories in Canada, utilizing sustainable practices and renewable energy to drive innovation while keeping data within the country [6] Industry Engagement - The AI for Good Summit featured multiple high-profile sessions where TELUS shared insights on responsible AI practices and governance [2][4] - The company’s recent 2025 AI Report included perspectives from over 5,500 respondents, focusing on the integration of Indigenous knowledge into AI development [4] - TELUS is recognized for its commitment to social impact and community partnerships, aligning with global standards for ethical AI practices [3][6]

Core Points - TELUS Corporation announced the pricing terms of its separate offers to purchase outstanding notes for cash, with a maximum purchase amount defined in the Offer to Purchase dated June 20, 2025 [1][2] - The Offers are subject to specific terms and conditions outlined in the Offer to Purchase [2] - The total consideration for the notes accepted for purchase will be paid on the expected settlement date of July 3, 2025, along with accrued coupon payments [6] Offer Details - The aggregate principal amounts of the notes accepted for purchase include C$800 million for 3.95% Senior Notes due February 2050, C$500 million for 4.10% Senior Notes due April 2051, and C$500 million for 4.40% Senior Notes due January 2046, among others [3][4] - The reference yield for the 3.95% Senior Notes is 3.579% plus a fixed spread of 145 basis points, resulting in a total consideration of C$848.56 per C$1,000 principal amount [3][4] - The financing condition for the Offers has been satisfied due to the closing of a previously announced offering of junior subordinated notes totaling US$1.5 billion [5] Settlement and Cancellation - Holders of the accepted notes will lose all rights as holders of the tendered notes, and interest will cease to accrue on the settlement date [6][7] - Any notes purchased in the Offer will be retired and canceled, while unaccepted notes will be returned to the tendering holders without cost [7] Dealer Managers - TELUS has engaged several financial institutions, including RBC Dominion Securities Inc., BMO Nesbitt Burns Inc., and CIBC World Markets Inc., to act as lead dealer managers for the Offers [8]

Core Points - TELUS Corporation announced the results of its cash offers to purchase outstanding notes, with a total of US$318,255,000 validly tendered before the expiration date [4][8] - The offers expired on June 27, 2025, with a settlement date set for July 3, 2025 [3][11] - The maximum purchase amount for the offers was US$750,000,000, which was sufficient to include all validly tendered notes [8] Offer Details - The offers included two series of notes: 4.600% Notes due November 16, 2048, and 4.300% Notes due June 15, 2049 [5] - The total consideration for the 4.600% Notes was US$834.11 per US$1,000 principal amount, while for the 4.300% Notes it was US$788.18 [6][5] - The company accepted all validly tendered notes, with US$189,405,000 of the 4.600% Notes and US$128,850,000 of the 4.300% Notes accepted [8][5] Financing Condition - The financing condition for the offers was satisfied due to the closing of a previously announced offering of junior subordinated notes totaling US$1.5 billion [9]

Core Viewpoint - TELUS Corporation has announced the results of its cash tender offers for certain series of its outstanding notes, increasing the maximum purchase amount to accommodate all tendered 3.95% Senior Notes, Series CAB and 4.10% Senior Notes, Series CAE in full, along with a portion of the 4.40% Senior Notes, Series CU [1][6] Summary by Sections Offers - The offers were made under the terms set forth in the Offer to Purchase dated June 20, 2025 [2] Tender Results - A total of C$3,108,424,000 in principal amount of the notes was validly tendered before the expiration date of June 27, 2025 [3] Notes Information - The following series of notes were included in the offers: - 3.95% Senior Notes, Series CAB due February 2050: C$800 million outstanding, C$691.7 million tendered - 4.10% Senior Notes, Series CAE due April 2051: C$500 million outstanding, C$421.9 million tendered - 4.40% Senior Notes, Series CU due January 2046: C$500 million outstanding, C$436.5 million tendered, C$261.9 million accepted on a pro rata basis [4][6] Total Consideration - The total consideration for each series of notes will be based on the applicable fixed spread plus the yield based on the bid-side price of the applicable Canadian reference security [5] Acceptance Amounts - The company expects to accept C$691.7 million of the 3.95% Senior Notes, C$421.9 million of the 4.10% Senior Notes, and C$261.9 million of the 4.40% Senior Notes, with no acceptance for several other series [6] Financing Condition - The financing condition for the offers has been satisfied due to the closing of a previously announced offering of junior subordinated notes totaling US$1.5 billion [7] Pricing and Settlement - Pricing for the notes is expected to occur on June 30, 2025, with the settlement date anticipated to be July 3, 2025 [8][9] Dealer Managers - The company has retained several financial institutions as lead dealer managers for the offers [10] Termination of Offers - If any offer is terminated, the company will promptly notify the tender agent, and all tendered notes will be returned to the holders [11] Company Overview - TELUS is a leading communications technology company with over C$20 billion in annual revenue and more than 20 million customer connections [15]

Core Viewpoint - TELUS Corporation announced pricing terms for its cash offers to purchase outstanding notes, with a maximum purchase amount of US$750 million [1][12]. Group 1: Offer Details - The offers are subject to conditions outlined in the Offer to Purchase dated June 20, 2025, and include a notice of guaranteed delivery [2]. - The total consideration for each series of notes is calculated based on fixed spreads and U.S. Treasury yields as of June 27, 2025 [3][6]. - The offers will expire at 5:00 p.m. (Eastern time) on June 27, 2025, unless extended [7]. Group 2: Acceptance and Conditions - Notes will be accepted for purchase based on their acceptance priority level, with the highest priority level being 1 [4][12]. - The company reserves the right to waive conditions and may terminate or alter the offers if conditions are not met [12]. - The financing condition requires the company to raise sufficient net proceeds to purchase all validly tendered notes [12]. Group 3: Settlement and Payments - Settlement for validly tendered notes will occur four business days after the expiration date, expected to be July 3, 2025 [9][10]. - Holders of accepted notes will receive total consideration plus accrued interest up to the settlement date [11]. Group 4: Company Overview - TELUS is a leading communications technology company with over C$20 billion in annual revenue and more than 20 million customer connections [20]. - The company is committed to leveraging technology for positive human outcomes and has contributed C$1.8 billion in community support since 2000 [20].

Core Viewpoint - TELUS has successfully closed an offering of US$1.5 billion in Fixed-to-Fixed Rate Junior Subordinated Notes to fund its tender offers and other corporate purposes [1][2] Group 1: Offering Details - The offering consists of two series of Notes, with a total principal amount of US$1.5 billion [1] - The underwriters for the offering include J.P Morgan Securities LLC, RBC Capital Markets, LLC, and Wells Fargo Securities, LLC [1] Group 2: Use of Proceeds - The net proceeds from the offering will primarily be used to fund TELUS' previously announced tender offers [2] - If any tender offer is not completed, the remaining proceeds will be allocated for debt repayment and other general corporate purposes [2] Group 3: Company Overview - TELUS operates in over 45 countries and generates more than C$20 billion in annual revenue, serving over 20 million customer connections [7] - The company is focused on leveraging technology for positive human outcomes and is recognized for its commitment to client service excellence and social capitalism [7] - TELUS Health impacts over 150 million lives globally through innovative health technologies, while TELUS Agriculture & Consumer Goods enhances connections between producers and consumers using digital technologies [7]