Research Desk Line-up: Partner Communications Post Earnings Coverage

LONDON, UK / ACCESSWIRE / August 28, 2017 / Pro-Trader Daily has just published a free post-earnings coverage on TELUS Corp. (NYSE: TU), which can be viewed by registering at http://protraderdaily.com/optin/?symbol=TU, following the Company's posting of its second quarter fiscal 2017 results on August 11, 2017. TELUS' one of Canada's biggest telecom companies, delivered best-ever wireless monthly postpaid churn rate, while blended churn was at a record low. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member's account at:

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Get more of our free earnings reports coverage from other constituents of the Wireless Communications industry. Pro-TD has currently selected Partner Communications Company Ltd (NASDAQ: PTNR) for due-diligence and potential coverage as the Company announced on August 16, 2017, its financial results for Q2 2017 which ended on June 30, 2017. Register for a free membership today, and be among the early birds that get access to our report on Partner Communications when we publish it.

At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on TU; also brushing on PTNR. With the links below you can directly download the report of your stock of interest free of charge at:

http://protraderdaily.com/optin/?symbol=TU

http://protraderdaily.com/optin/?symbol=PTNR

Earnings Reviewed

TELUS' consolidated operating revenue increased 3.9% to C$3.27 billion in Q2 2017, over operating revenues of C$3.15 billion in Q2 2016, reflecting higher wireless network and wireline data services revenue growth.

For Q2 2017, TELUS' earnings before interest, income taxes, depreciation, and amortization (EBITDA) edged up 0.4% to C$1.2 billion, while adjusted EBITDA rose 3.6% to C$1.23 billion which was attributed to higher revenue growth as well as the ongoing execution of operational efficiency and effectiveness initiatives.

TELUS' reported net income of C$386 million and basic EPS of C$0.64 compared to net income of C$416 million, or C$0.70 per share, in Q2 2016. The Company's adjusted net income totaled C$404 million, or C$0.68 per share, down by 2.7% and 2.9%, respectively.

Business Metrics

During Q2 2017, TELUS attracted 121,000 new wireless postpaid, high-speed Internet, and TV customers, up 29,000 on a y-o-y basis. The higher net additions included 99,000 wireless postpaid customers; 17,000 high-speed Internet subscribers; and 5,000 TELUS TV customers. TELUS' total wireless subscriber base of 8.7 million grew 3.2% on a y-o-y basis, reflecting a 5.1% increase in the postpaid subscriber base to 7.8 million. TELUS' high-speed Internet connections rose 5.3% to 1.7 million, while TELUS TV subscribers were higher by 4.5% to 1.1 million.

TELUS' delivered a best-ever wireless monthly postpaid churn rate of 0.79%, while blended churn was a record low at 1.00%. The Company's postpaid churn rate has now been below 1.00% for 15 of the past 16 quarters.

Operating Highlights

During Q2 2017, TELUS wireless network revenues jumped 7.2% on a y-o-y basis to C$1.7 billion driven by a larger proportion of higher-rate two-year plans in the revenue mix; increased adoption of larger data buckets or topping up of data buckets; continued subscriber growth, including subscribers acquired from MTS; a more favorable postpaid subscriber mix; a higher smartphone mix; and higher roaming revenues.

The division's blended ARPU grew 3.9% to C$66.87. This represented TELUS' twenty-seventh consecutive quarter of y-o-y growth. Wireless network's monthly postpaid subscriber churn declined by 11 basis points y-o-y to a record low of 0.79%. Blended monthly churn declined by 15 basis points to 1.00% reflecting improvements in both postpaid and prepaid churn rates as well as an increase in the mix of postpaid subscribers.

The segment's EBITDA decreased by 1.3% reflecting non-recurring 2016 gains related to the exchange on wireless spectrum licenses as well as higher restructure and other costs including those associated with the migration of subscribers acquired from MTS. Adjusted EBITDA increased by 3.3% to C$809 million, reflecting higher network revenue as well as ongoing operational efficiency and effectiveness initiatives.

TELUS wireline revenues grew 2.2% to C$1.4 billion. This growth was generated primarily by higher data services revenue. Data services and equipment revenues increased by 5.6% due to increased Internet and enhanced data revenues from continued high-speed Internet subscriber growth and higher revenue per customer; growth in business process outsourcing services; increased TELUS Health revenues driven by organic growth through additional professional services and support revenue and through acquisitions; and higher TELUS TV revenues from continued subscriber growth and certain rate increases.

High-speed Internet net additions of 17,000 were slightly lower by 1,000 over the same quarter a year ago. The continued growth reflected the ongoing expansion of TELUS' high-speed broadband footprint, including fiber to the premises.

Residential network access lines (NALs) declined by 19,000 in Q2 2017, an improvement of 1,000 over the same quarter a year ago. Wireline EBITDA increased by 3.8% while adjusted EBITDA increased by 4.1% to C$421 million.

Cash Matters

During Q2 2017, TELUS' free cash flow of C$260 million doubled from C$126 million a year ago due primarily to lower cash taxes paid.

TELUS' Board of Directors has declared a quarterly dividend of C$0.4925 per share on the Company's issued and outstanding Common Shares payable on October 02, 2017, to holders of record at the close of business on September 08, 2017. The Q3 2017 dividend represents a 7.1% increase from the C$0.46 quarterly dividend paid on October 03, 2016.

The Company returned C$860 million in dividends in the first seven months of 2017 to individual shareholders, mutual fund owners, pensioners, and institutional investors. Since 2004, TELUS has returned C$14.5 billion to shareholders through its dividend and share purchase programs, including C$9.3 billion in dividends and C$5.2 billion in share purchases, representing over C$24 per share.

Stock Performance

At the closing bell, on Friday, August 25, 2017, TELUS' stock slightly rose 0.06%, ending the trading session at $35.73. A total volume of 346.56 thousand shares have exchanged hands. The Company's stock price advanced 4.66% in the last three months, 7.82% in the past six months, and 6.94% in the previous twelve months. Moreover, the stock rallied 12.18% since the start of the year. The stock is trading at a PE ratio of 21.33 and has a dividend yield of 4.35%. The stock currently has a market cap of $21.10 billion.

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SOURCE: Pro-Trader Daily