TELUS reported adjusted earnings per share (EPS) of C$0.16 for the quarter ended September 30, below the C$0.17 estimate. Revenue was broadly flat year over year in Canadian dollars.
TELUS Corporation (TSX: T, T.TO) reported calendar EPS of C$0.16 for the third quarter of 2026, 5.9% below the C$0.17 estimate. The result continues a mixed run: the company beat EPS estimates in only one of its last four reported quarters. Separate earnings coverage cited adjusted EPS of US$0.11, below the US$0.13 estimate, and revenue of US$3.59 billion. Those figures use a different reporting basis from the Canadian-dollar calendar data.
Recent earnings trend
Telus Corp
T.TO
T.TO
Telus Corp
WealthAwesomeMarket cap
$20.37B
52W high
$19.09
52W low
$10.89
1W change
+3.56%
Beta
0.79
Analyst Price Targets
Based on analyst covering T · as of Oct 22, 2026
Wall Street analysts forecast T stock price to rise 7.9% over the next 12 months.
Consensus
Moderately BullishBased on avg. target vs last close (formal rating unavailable for Canadian listings)
Avg. Target
C$13.82
+7.9% Upside
Previously C$13.92 on Oct 19, 2026
Current Price
C$12.81
Last close
Targets are snapshotted when they change. Unchanged figures keep their original date. Not financial advice.
Wealth Awesome Price Forecast
WA ModelStatistical 90-day price range based on T's historical volatility
30-Day Vol
34.1%
Annualized
90-Day Vol
33.6%
Annualized
Trend (90d)
-8.1%
Annualized drift
90d Mean
C$12.44
Expected price
| Horizon | Expected | 68% Range (1σ) |
|---|---|---|
| 30 trading days | C$12.69 | C$11.28 – C$14.27 |
| 60 trading days | C$12.57 | C$10.64 – C$14.84 |
| 90 trading days | C$12.44 | C$10.15 – C$15.26 |
Methodology: Range is calculated using 30-day realized volatility via geometric Brownian motion (log-normal model). 68% band = ±1σ, 95% band = ±2σ. This is a statistical model, not a prediction. Past volatility does not guarantee future results. Not financial advice.
Analyst coverage: 10 analyst(s) cover this name; upcoming EPS consensus is available.
Beat estimates in 1 of the last 4 comparable quarter(s).
| Fiscal period | Report date | Actual EPS | Estimate | Surprise |
|---|---|---|---|---|
| 2026-12-31 | 2027-02-12 | — | 0.1600 | — |
| 2026-09-30 | 2026-11-06 | 0.1600 | 0.1700 | -5.9% |
| 2026-06-30 | 2026-07-31 | 0.1600 | 0.2000 | -20.0% |
| 2026-03-31 | 2026-05-08 | 0.2300 | 0.2200 | +4.5% |
| 2025-12-31 | 2026-02-12 | 0.2000 | 0.2500 | -20.0% |
| 2025-09-30 | 2025-11-07 | 0.2400 | 0.2700 | -11.1% |
For Canadian investors, the key question is whether subscriber growth and steady revenue can offset weak profitability and pressure on the balance sheet.
Investor takeaway: The calendar EPS miss was modest, but the broader earnings picture is more concerning. Company news coverage reported a quarterly net loss, while trailing EPS and profit margin remain negative. Subscriber additions were a bright spot, but weaker internet additions and continued pressure on profits keep execution and debt reduction in focus. See the TELUS stock page for more details.
C$0.16 EPS versus C$0.17 estimate
TELUS missed the calendar EPS estimate by 5.9%. The supplied trends data puts next-quarter consensus at C$0.25, based on 10 analysts, with no change over the past 30 days. Revenue consensus is C$5.20 billion, based on six analysts.
Bull case
TELUS added 84,000 mobile phone subscribers and 383,000 total telecom connections, both above the cited analyst averages. Revenue also topped the Zacks estimate in US-dollar coverage, and the shares gained over the past 30 days. These results suggest demand for core connectivity remains, even as profits come under pressure.
Bear case
The earnings miss adds to a weak recent record: TELUS beat EPS estimates in only one of its last four comparable quarters. Company news reported a C$667 million quarterly loss and a C$2.1 billion impairment, citing faster churn in legacy digital services and slower AI adoption.
TELUS aims to reduce leverage toward 3x by the end of 2028. That plan depends on cost savings, asset sales and disciplined spending. The results provided don’t show that the company has overcome the risks involved.
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