CA - TELUS Corporation (TU) Q1 2024 Earnings Call Transcript
2024-05-09 16:40:20 ET
TELUS Corporation (TU)
Q1 2024 Results Conference Call
May 9, 2024 01:30 PM ET
Company Participants
Robert Mitchell - Head, IR
Darren Entwistle - President and Chief Executive Officer
Doug French - Executive Vice-president and Chief Financial Officer
Zainul Mawji - President, Consumer Solutions
Navin Arora - Executive Vice President and President, Business Solutions
Jeff Puritt - President and Chief Executive Officer, TELUS International
Conference Call Participants
Vince Valentini - TD
Jerome Dubreuil - Desjardins
Drew McReynolds - RBC
Maher Yaghi - Scotiabank
Stephanie Price - CIBC
Sebastiano Petti - JPMorgan
Simon Flannery - Morgan Stanley
Presentation
Operator
Good day, and welcome to the TELUS 2024 Q1 Earnings Conference Call. I would like to introduce your speaker, Robert Mitchell. Please go ahead.
Robert Mitchell
Hello, everyone. Thank you for joining us today. Our first quarter 2024 news release, MD&A, financial statements and detailed supplemental investor information were posted on our website earlier this morning.
On our call today, we'll begin with remarks by Darren and Doug. For the Q&A portion, we will be joined by other members of our executive leadership team. Briefly, prepared remarks, slides and answers to questions contain forward-looking statements.
Actual results could vary materially from these statements, the assumptions on which they are based and the material risks that could cause them to differ are outlined in our public filings with Securities Commissions in Canada and the U.S., including in our first quarter 2024 annual 2023 MD&A.
With that, over to you, Darren.
Darren Entwistle
Thanks, Rick. Hello, everyone.
In the first quarter, our team once again delivered against our differentiated growth strategy, leveraging our superior asset portfolio, consistent execution track record, and proactive cost efficiency initiatives to deliver industry leading customer additions and solid financial results. This was achieved against the backdrop of a pretty dynamic operating environment you all well know.
Our robust performance is underpinned by our strategic focus on margin accretive customer growth, our customer centric culture and our globally leading broadband networks. This enabled our strongest first quarter on record with industry leading total customer net additions of 209,000 up 28% on a year-over-year basis. TELUS' industry best growth reflects the consistent potency of our operational execution and our unmatched bundled portfolio offerings across mobile and home.
Our team's passion for delivering customer service excellence contributed to continued leading loyalty across our key product lines. In the first quarter, TELUS achieved resilient EBITDA growth of 4.3% and margin expansion of 170 basis points. These results reflect the progression of our ongoing transformational efficiency programs that are clearly bearing fruit....
TELUS Corporation (TU) Q1 2024 Earnings Call Transcript