Telus reports Q3 loss on non-cash charge related to Telus Health

VANCOUVER - Telus Corp. disclosed a loss in its third quarter due to a $800 million non-cash charge associated with Telus Health. The company's loss per share attributed to common shares was $667 million or 42 cents, compared to a profit of $493 million or 32 cents per share in the same period last year. Adjusted earnings per share stood at 16 cents, down from 24 cents per share the previous year.

Operating revenue and other income amounted to $5.03 billion for the quarter, a decrease from $5.11 billion a year earlier. Telus has plans to achieve annualized cash savings of about $900 million by the end of 2028, aiming to improve costs, margins, and capital spending efficiencies. CEO Victor Dodig stated that the company is focusing on strengthening its financial foundation, enhancing operational discipline, controlling costs, and deploying resources to drive sustainable growth and returns.