Telus Posts Loss on $800M Health Charge
The Vancouver-based telecom reported a third-quarter loss after a non-cash charge tied to Telus Health and announced a cost-cutting plan.
Updated on Nov. 6, 2026 in Healthcare
Telus Corp. reported a loss attributable to common shares of $667 million, or 42 cents per share, for the quarter ended Sept. 30, after taking an $800-million non-cash charge related to Telus Health. The company also announced a plan targeting annualized cash savings of about $900 million by the end of 2028.
Why it matters
The write-down and the cost program signal that Telus is reassessing the value of its health business and seeking to improve margins and capital spending efficiency. Investors and customers in Canada will be watching whether the savings plan translates into stronger earnings after a sharp year-over-year swing.
Telus's third-quarter operating revenue and other income fell to $5.03 billion from $5.11 billion, while adjusted earnings dropped to 16 cents per share from 24 cents. The filing does not explain how much of the $800-million charge is expected to recur or how the savings target will be split among cost and capital initiatives.
The players
Telus Corp.
A major Canadian telecommunications company headquartered in Vancouver that operates wireless, internet and health-technology businesses across the country.
Telus Health
The health-technology arm of Telus that provides digital health and benefits-management services to employers, insurers and health providers.
The details
The loss was driven by the $800-million non-cash charge linked to Telus Health, a figure that overwhelmed the company's operating results for the period. Alongside the results, Telus outlined a plan to reduce costs and improve margins and capital spending efficiency, with a goal of about $900 million in annualized cash savings by the end of 2028.
Timeline
Sept. 30, 2025: Prior-year quarter that reported a $493-million profit.
Sept. 30, 2026: Quarter ended with the $667-million loss reported.
Nov. 6, 2026: Third-quarter results and the cost-savings plan were announced.
End of 2028: Target date for about $900 million in annualized cash savings.
Market Landscape
The announcement places Telus in the middle of a broader Canadian telecom effort to protect margins as wireless and internet growth slows and capital spending rises. Telus's reliance on its health-technology unit, now carrying a large write-down, sets it apart from rivals that have concentrated on connectivity.
Customers of Telus's health-benefits and digital-health services may see changes as the company works toward its cost targets, though the filing does not specify product or pricing changes. Subscribers to Telus's telecom services are not directly addressed in the cost announcement.
The takeaway
A large non-cash charge can produce a headline loss even when operations continue, so readers should look at adjusted results and the stated savings targets together. The 2028 deadline gives a clear benchmark for judging whether Telus delivers on its plan.
Further reading
For more on the sector, see Healthcare coverage across Canadian business news.
