TELUS Reports Q3 2026 Results with $800 Million Goodwill Impairment and New Efficiency Program
TELUS Corporation reported third-quarter 2026 results characterized by a net loss of $660 million, primarily driven by an $800 million non-cash goodwill impairment related to its TELUS Health unit. While consolidated service revenue saw a slight 1% decline to $4.5 billion due to headwinds in the TELUS Digital segment, the core mobile network business showed resilience with 84,000 net new customers and a three-year low churn rate of 1.01%. To strengthen its financial position, the company announced a multi-year efficiency program aimed at achieving $900 million in annualized cash savings by the end of 2028. TELUS is also prioritizing the monetization of non-core assets, such as TELUS Health and TELUS Agriculture & Consumer Goods, to reduce its net debt-to-EBITDA ratio from 3.6x toward a target of 3.0x or lower by late 2028.