TELUS reported a C$660 million third-quarter net loss on November 6 and announced a program targeting approximately C$900 million in annualized cash savings by the end of 2028.

The Canadian telecommunications company said its unaudited results included a C$800 million pre-tax, non-cash goodwill impairment related to TELUS Health. It attributed the write-down to revised growth expectations, market conditions and a valuation update associated with an active divestiture process.

TELUS said it was prioritizing efforts to monetize TELUS Health and TELUS Agriculture & Consumer Goods, with proceeds intended for debt reduction. The release did not announce a completed sale of either business.

The new efficiency program covers operating costs, margins and capital expenditure. About 80% of the targeted savings would come from core telecommunications operations, according to the company. The savings are a future target, rather than cash already realized.

For the quarter ended September 30, TELUS recorded C$5.026 billion in operating revenue and other income, down from C$5.106 billion a year earlier. Adjusted net income declined to C$251 million from C$370 million. Adjusted EBITDA fell to C$1.760 billion from C$1.862 billion; these adjusted figures are non-GAAP measures.

Its mobile business added 84,000 net phone customers, while average monthly revenue per phone user was C$57.22. The company said mobile network revenue rose 1%.

Free cash flow, another company-defined measure, declined to C$396 million from C$611 million. TELUS attributed that decrease mainly to lower EBITDA and higher capital spending.

The company reaffirmed its existing 2026 financial guidance. It also retained a target of reducing net debt relative to adjusted EBITDA to 3.0 times or less by the end of 2028, compared with 3.6 times at quarter-end.

All financial amounts above are in Canadian dollars.

Sources: TELUS — Third-Quarter 2026 Results, Issuer Release Distributed by CNW, November 6, 2026 https://www.newswire.ca/news-releases/telus-reports-third-quarter-2026-results-demonstrates-continued-discipline-in-core-telecom-advances-transformation-strategy-814017677.html