Telus Corp (TU) Q2 2022 Earnings Call Transcript

For the period ending June 30, 2022

August 5, 2022 12:00 p.m. ET

Prepared Remarks

Questions and Answers

Call Participants

Prepared Remarks:

Operator

Good day, everyone. Welcome to the TELUS 2022 Q2 Earnings Conference Call. I would like to introduce your speaker, Mr. Robert Mitchell. Please go ahead.

Robert Mitchell

Thanks, Melay. Hello, everyone, and thanks for joining us today. Our second quarter 2022 results news release, MD&A and financial statements and detailed supplemental investor information were posted on our website this morning at telus.com/investors.

On our call today, we'll start off with remarks by Doug and Darren. For the Q&A portion of our call, we will be joined by Zainul Mawji, who leads our Home Solutions and Customer Excellence; Jim Senko, who heads up Mobility Solutions; and Navin Arora, who leads Business Solutions; and Tony Geheran, COO; as well as Michael Dingle, who recently joined TELUS Health as Chief Operating Officer, is joining our call today.

Briefly on Slide 2. This presentation and answers to questions contain forward-looking statements that are subject to risks and uncertainties and made based on certain assumptions. Accordingly, actual performance could differ from statements made today, so we ask that you do not place undue reliance upon them. We disclaim any obligation to update forward-looking statements, except as required by law. And we refer you to the risks and assumptions as outlined in our public disclosures, including our second quarter 2022 MD&A, our annual 2021 MD&A and filings with Securities Commissions in Canada and the U.S.

With that, over to you, Darren.

Darren Entwistle

Thanks, Mitchie, and hello, everyone. In the second quarter, the TELUS team once again demonstrated continued execution excellence, characterized by the consistent combination of industry-leading customer growth, resulting again in strong operational and financial results across our business.

Our robust performance reflects the potency of our globally leading broadband networks and customer-centric culture, which enabled record second quarter loading in terms of 247,000 net customer additions. This reflects strong demand for our superior bundled offerings and customer service over our world-leading broadband networks.

Furthermore, our leading customer growth is underpinned by our consistent industry best client loyalty across our mobile and fixed product lines. Notably, again this quarter, and for 7 of the last 9 quarters, Blended Mobile Phone, PureFibre Internet, Optic TV, Security and Voice Churn were all below 1%. Moreover, since the onset of the pandemic at the beginning of 2020, we now welcome more than 2.1 million new mobility and fixed customers. This represents an industry-leading result, including outpacing our next closest peer by a multiple of more than 2x and support strong financial performance today and well into the future.