Core Insights - TELUS Corporation reported strong customer growth in the first quarter of 2025, adding 218,000 net customers, driven by demand for bundled services and advanced broadband networks [1][3][8] - The company achieved operating revenue growth of 3% to C$5.1 billion and adjusted EBITDA growth of 4%, reflecting the resilience of its business in a dynamic environment [2][4] - TELUS Health segment showed significant growth, with revenue and adjusted EBITDA increasing by 12% and 30% respectively, covering 76.5 million lives [3][9][21] Financial Performance - Consolidated free cash flow increased by 22% to C$488 million, supported by a 13% rise in cash from operations [1][10] - The quarterly dividend was raised by 7% to C$0.4163 per share, reflecting a commitment to shareholder value [1][24] - Operating expenses decreased by 1% to C$4.3 billion, contributing to improved net income of C$301 million, up 115% year-over-year [6][14] Customer Growth and Segments - Total telecom subscriber connections reached 20.3 million, a 6% increase year-over-year, with notable growth in mobile phones and connected devices [8][14] - TELUS Health's revenue growth was driven by strategic investments and product enhancements, alongside a 7% increase in global lives covered [3][21] - The TTech segment saw a 3% increase in adjusted EBITDA, supported by cost reduction efforts and subscriber growth across various services [4][17] Capital Expenditures and Investments - Consolidated capital expenditures decreased by 19% to C$587 million, reflecting a strategic prioritization of projects [11][14] - The company is targeting a net debt to EBITDA ratio of 3 times by 2027, with ongoing efforts to improve its balance sheet [5][10] - TELUS has invested approximately C$587 million in capital expenditures in the first quarter of 2025, contributing to community development [27] Strategic Outlook - TELUS reaffirmed its 2025 financial targets, expecting operating revenue growth of 2-4% and adjusted EBITDA growth of 3-5% [2][5] - The company plans to extend its dividend growth program, targeting 3-8% annual growth from 2026 through 2028 [1][24] - TELUS continues to focus on operational excellence and cost efficiency to drive sustainable growth in a competitive landscape [3][4]