Q4 results
4 hours ago by MT Newswires
07:17 AM EST, 02/11/2021 (MT Newswires) -- Canadian telco giant TELUS Corporation (T.TO) reported Q4 2020 net income of $271 million, or $0.20 per basic share, compared with net income of $379 million, or $0.30 per basic share for the year ago quarter. The declines reflect increased depreciation and amortization from capital assets growth, declines in wireline legacy voice and legacy data services; higher non-labour-related restructuring and other costs and multiple impacts from the COVID-19 pandemic.
The company reported adjusted net income of $289 million, or $0.22 per adjusted basic share, versus adjusted net income of $400 million, or $0.32 per share for Q4 2019.
Total revenue was $4.06 billion, beating a Capital IQ consensus forecast of $4.03 million. Telus also reported 253,000 new customer additions in the quarter, up 77,000 over last year.
Free cash flow of $218 million increased by $83 million or 62% over the same period a year ago, largely from lower capital expenditures.
The telco also set its 2021 financial targets:
8-10% increase on 2020 revenue
FCF of approximately $1.5 billion (2020: $1.43 billion)
Capital expenditures of $2.75 billion (2020: $2.775 billion).
Telus also declared a quarterly dividend of $0.3112 per common share, payable on April 1.
4 hours ago by MT Newswires
07:17 AM EST, 02/11/2021 (MT Newswires) -- Canadian telco giant TELUS Corporation (T.TO) reported Q4 2020 net income of $271 million, or $0.20 per basic share, compared with net income of $379 million, or $0.30 per basic share for the year ago quarter. The declines reflect increased depreciation and amortization from capital assets growth, declines in wireline legacy voice and legacy data services; higher non-labour-related restructuring and other costs and multiple impacts from the COVID-19 pandemic.
The company reported adjusted net income of $289 million, or $0.22 per adjusted basic share, versus adjusted net income of $400 million, or $0.32 per share for Q4 2019.
Total revenue was $4.06 billion, beating a Capital IQ consensus forecast of $4.03 million. Telus also reported 253,000 new customer additions in the quarter, up 77,000 over last year.
Free cash flow of $218 million increased by $83 million or 62% over the same period a year ago, largely from lower capital expenditures.
The telco also set its 2021 financial targets:
8-10% increase on 2020 revenue
FCF of approximately $1.5 billion (2020: $1.43 billion)
Capital expenditures of $2.75 billion (2020: $2.775 billion).
Telus also declared a quarterly dividend of $0.3112 per common share, payable on April 1.