Today is the big day for TELUS’ Q1 2012 results and they’re nothing short of impressive! The senior management team will be hosting their general meeting from Edmonton at 10:00am MST and analyst call at 4:30pm EST.
Overall revenue for the green giant is up 4% year over year totaling $2.6 billion. Net Income and EPS (earnings per share) was $348M and $1.07 respectively, representing 6% year-over-year growth. TELUS claimed 6% and 2% growth for their wireless and wireline portfolios, respectively, with strong wireless data growth up 36% and wireline data growth up 13% from Q1 2011.
Q1 was another strong quarter for TELUS in terms of net postpaid subscriber additions, totalling 63K, leading first place for quarter-over-quarter growth of the top three Canadian carriers. Bell reported the same addition of 63K subscribers last week, leaving Rogers in last with only 47K net new postpaid subscriber growth. TELUS’ total subscriber numbers are now an impressive 7.36 million users.
TELUS reported another industry leading quarter for ARPU growth up 1.7% from last year. Blended churn decreased by 15 bps (basis points) sitting at 1.55%. TELUS states strong churn is a result of successful retention initiatives with the help of smartphone activations on the base of customers.
Free cash flow increased more than 50% to $358M for Q1 2012, which is a rise of $196M compared to Q1 2011. This was due primarily to lower discretionary contributions made to defined benefit pension plans, lower restructuring payments and higher adjusted EBITDA.