TELUS reports operating cash flow growth for second quarter
Cash provided by operating activities rose $176 million in the second quarter of 2026 compared to the same period last year
TELUS Corporation (TU), a Canadian provider of telecommunications, healthcare, and digital experience solutions, reported an increase in cash provided by operating activities for the second quarter of 2026. The company generated $1,342 million from operations during the three-month period ended June 30, 2026, compared to $1,166 million in the second quarter of 2025. For the first six months of 2026, operating cash flow rose $149 million to $2,392 million.
Operating revenues and other income for the second quarter declined to $4,929 million from $5,082 million in the prior-year period. For the first six months of 2026, these revenues totaled $9,942 million, a decrease from $10,139 million in the first half of 2025. Despite the revenue decline, the company saw a $73 million reduction in employee benefits expenses during the second quarter.
Financing activities resulted in a net cash outflow of $585 million for the second quarter, a shift from the $2,595 million provided by financing activities in the same period last year. The company issued $1,351 million in long-term debt during the quarter but redeemed or repaid $1,802 million in long-term debt. For the first six months of 2026, TELUS issued $8,132 million in long-term debt and redeemed or repaid $5,038 million.
Cash used by investing activities for the second quarter was $672 million, down from $1,093 million in the second quarter of 2025. For the first six months of 2026, the company used $1,816 million for investing activities.
Balance sheet changes included a decrease in goodwill, net, which fell to $8,897 million from $10,460 million due to an impairment. Long-term debt decreased to $26,429 million from $27,437 million. The company also reported an early redemption of $500 million Notes, Series CZ.
Common equity fell to $13,281 million from $15,775 million. The company's cash and temporary investments, net, ended the second quarter at $1,387 million, compared to $3,682 million at the end of the second quarter of 2025.