Q3 2019 Earnings Call
Introduce your speaker Mr. Darrell Rae. Please go ahead.
Thanks, Mike Good morning, everyone and thank you for joining us today.
<unk> third quarter 2018 earnings news release quarterly report and detailed supplemental investor information are posted on our website tell us dotcom slash investors.
On the call today, we have president and CEO , Darren Entwistle, who will provide opening comments followed by a review of our third quarter operational and financial highlights by Doug French our CFO .
After our prepared remarks, we will conclude with a question and answer session. Let me now direct your attention to slide to our caution regarding forward looking statements. This presentation answers to questions and statements about future events, including our 2018 and 2019 targets as well as intentions for dividend growth and capital investments and the performance of tell us.
Include forward looking statements that are subject to risks and uncertainties in are made based on certain assumptions accordingly actual performance could differ materially from statements made today, so do not place undue reliance on them.
Also disclaim any obligation to update forward looking statements, except as required by law.
Aspect you read our cautionary note and refer you to the risks and assumptions outlined in our public disclosures in particular, our third quarter management's discussion and analysis and in our 2017 annual Mdna sections, nine and 10 as well as filings with securities commissions in Canada, and the United States. The appendix of our presentation and sections, one and 11 number third.
Quarter, 2018, Mdna provide definitions and reconciliations of the non-GAAP measures that we use today.
Before we begin let me take a moment to discuss certain nonrecurring items that flowed through our financial results. This quarter as previously disclosed we recorded equity income of 171 million related to the sale of tell us garden with 50% allocated to each of our wireless and wireline operating segments concurrently we committed to a donation to the.
Hello, This friendly future foundation of 118 million of which 50% was allocated to restructuring and other costs in each of our wireless and wireline segment. Lastly, we recorded a long term debt prepayment premium of $34 million before income taxes or four cents per share after taxes.
To review of our results today will exclude these items and unless otherwise noted let me now turn the call over to Darren.
Thanks, Denny and good morning, everyone.
Same today and chose once again reported strong operational and financial results, including robust customer growth across both the wireless and wireline segments of our business our strong Q3 results.
News release quarterly report and detailed supplemental investor information are posted on our website tell us dotcom slash investors on the call today, we have president and CEO Guaran Andresol, who will provide opening comments followed by a review of our third quarter operational and financial highlights by Doug French our CFO after our prepared remarks, we.
I'll conclude with a question and answer session. Let me now direct your attention to slide to our caution regarding forward looking statements. This presentation answers to questions and statements about future events, including our 2018 and 2019 targets as well as intentions for dividend growth and capital investments and the performance of tell US include forward looking statements that are.
Are subject to risks and uncertainties and are made based on certain assumptions accordingly actual performance could differ materially from statements made today. So do not place undue reliance on them. We also disclaim any obligation to update forward looking statements, except as required by law I ask that you read our cautionary note and refer you to the risks and assumptions outlined in our public disclosures.
In particular, our third quarter management's discussion and analysis and in our 2017 annual Mdna sections, nine and 10 as well as filings with securities commissions in Canada, and the United States. The appendix of our presentation and sections, one and 11 number third quarter 2018 Mdna.
Provide definitions and reconciliations of the non-GAAP measures that we use today.
Before we begin let me take a moment to discuss certain nonrecurring items that flowed through our financial results. This quarter as previously disclosed we recorded equity income of 171 million related to the sale of tell us garden with 50% allocated to each of our wireless and wireline operating segments concurrently we committed to a donation to the.
Tell us friendly future foundation of 118 million of which 50% was allocated to restructuring and other costs in each of our wireless and wireline segment. Lastly, we recorded a long term debt prepayment premium of $34 million before income taxes or four cents per share after taxes.
To review of our results today will exclude these items unless otherwise noted let me now turn the call over to Darren.
Thanks, Denny and good morning, everyone as you've seen today until its once again reported strong operational and financial results, including robust customer growth across both the wireless and wireline segments of our business. Our strong Q3 results our buttressed by ongoing excellent performance in wireless and wireline customer loyalty and lifetime revenue.
Again this quarter the tolls team continued to achieve industry, leading postpaid wireless churn and realized record third quarter high speed Internet and TV retention levels.
Consolidated operating revenue in the quarter increased by 5% to 8%, while EBITDA was up six up 4%.
Notably the robust customer growth that we delivered in the quarter included 199000, new wireless Internet and TV customer additions up 31% on a year over year basis.
This was driven by our low postpaid churn strong retention levels in respect of high speed Internet and TV and by the ongoing generational investments, we're making in our world leading broadband networks.
Moreover, the blended lifetime revenue of our wireless Internet and TV customers was up 17% year over year.
Turning now to wireless.
We achieved solid growth in the third quarter in respect of revenue and EBITDA, which were up 42% and six that 8% respectively.
Postpaid wireless net additions of 109000 and total wireless additions of 145000 represented healthy third quarter loading.
Postpaid churn in our third quarter was an industry, leading zero dot eight 7%.
Notably this is 22 and 27 basis points better than our national peers.
Consistently strong customer loyalty is of course, a hallmark of the cialis organization with a team having delivered a postpaid churn results below 1% for 20 of the last 21 quarter's putting us now in our six year of churn below 1%.
This clearly demonstrates the success of our decade long and ongoing journey to put our customers first and everything that we do.
Our teams unrelenting commitment to our customers first promise is bolstered by the significant investments that we're making and broadband networks and broadband technology.
Notably tell US was once again named as having the fastest mobile network in Canada by PC Mac.
This repeat acknowledgment comes on the heels of tell is being recognized as having the fastest wireless network in Canada as measured by the consumer initiated nuclear speed test.
Moreover, this builds on our outstanding record of achievement with respect to network excellent having earned the top spot and all four major mobile network reports this year, including JD power and.
CEO guaran into its own who will provide opening comments followed by a review of our third quarter operational and financial highlights by Doug French our CFO . After our prepared remarks, we will conclude with a question and answer session. Let me now direct your attention to slide to our caution regarding forward looking statements. This presentation answers to questions and statements both.
Feature events, including our 2018, and 2019 targets as well as intentions for dividend growth and capital investments and the performance of tell US include forward looking.
Statements that are subject to risks and uncertainties in are made based on certain assumptions accordingly actual performance could differ materially from statements made today, so do not place undue reliance on them.
Also disclaim any obligation to update forward looking statements, except as required by law I ask that you read our cautionary note and refer you to the risks and assumptions outlined in our public disclosures in particular, our third quarter management's discussion and analysis and in our 2017 annual Mdna sections, nine and 10 as well as filings with securities commissions in Canada, and the United States.
The appendix of our presentation and sections, one and 11 number third quarter 2018, Mdna provide definitions and reconciliations of the non-GAAP measures that we used today.
Before we begin let me take a moment to discuss certain nonrecurring items that flowed through our financial results. This quarter as previously disclosed we recorded equity income of 171 million related to the sale of tell us garden with 50% allocated to each of our wireless and wireline operating segments concurrently we committed to a donation to the.
Tell us friendly future foundation of 118 million of which 50% was allocated to restructuring and other costs in each of our wireless and wireline segment. Lastly, we recorded a long term debt prepayment premium of $34 million before income taxes or four cents per share after taxes.
Review of our results today will exclude these items unless otherwise noted.
Let me now turn the call over to Darren.
Thanks, Denny and good morning, everyone as you've seen today and chose once again reported strong operational and financial results, including robust customer growth across both the wireless and wireline segments of our business. Our strong Q3 results our buttressed by ongoing excellent performance in wireless and wireline customer loyalty and lifetime revenue.
Again this quarter the tolls team continued to achieved industry, leading postpaid wireless churn and realized record third quarter high speed Internet and TV retention levels.
Solid operating revenue in the quarter increased by 5% to 8%, while EBITDA was up six up 4%.
Notably the robust customer growth that we delivered in the quarter included a 199000, new wireless internet and TV customer additions up 31% on a year over year basis.
This was driven by our low postpaid churn strong retention levels in respect of high speed Internet and TV and by the ongoing generational investments, we're making in our world leading broadband networks.
Moreover, the blended lifetime revenue of our wireless Internet and TV customers was up 17% year over year.
Turning now to wireless.
We achieved solid growth in the third quarter in respect of revenue and EBITDA, which were up for about 2% and six that 8% respectively.
Postpaid wireless net additions of 109000 and total wireless additions of 145000 represented healthy third quarter loading.
Postpaid churn in the third quarter was an industry, leading zero dot eight 7%.
Notably this is 22 and 27 basis points better than our national peers.
Consistently strong customer loyalty is of course, a hallmark of the tell us organization with a team having delivered a postpaid churn results below 1% for 20 of the last 21 quarter's putting us now in our six year of churn below 1%.
And let me welcome to the Telos 2018, Q3 earnings Conference call.
Introduce your speaker Mr. Darrell Rae. Please go ahead.
Mike Good morning, everyone and thank you for joining us today.
<unk> third quarter 2018 earnings news release quarterly report and detailed supplemental investor information are posted on our web site tell us dotcom slash investors on the call today, we have president and CEO , Darren Entwistle, who will provide opening comments followed by a review of our third quarter operational and financial highlights by Doug French ER.
CFO after our prepared remarks, we will conclude with a question and answer session. I mean now direct your attention slide to our caution regarding forward looking statements. This presentation answers to questions and statements about future events, including our 2018, and 2019 targets as well as intentions for dividend growth and capital investments and.
And the performance of tell US include forward looking statements that are subject to risks and uncertainties in are made based on certain.
And assumptions accordingly, actual performance could differ materially from statements made today, so do not place undue reliance on them. We also disclaim any obligation to update forward looking statements, except as required by law.
I ask that you read our cautionary note and refer you to the risks and assumptions outlined in our public disclosures in particular, our third quarter management's discussion and analysis and in our 2017 annual Mdna sections night, and intend as well as filings with securities commissions in Canada, and the United States, the appendix of our presentation and sections one.
On an 11 number third quarter 2018, Mdna provide definitions and reconciliation affiliations of the non-GAAP measures that we use today.
Before we begin let me take a moment to discuss certain nonrecurring items that flowed through our financial results. This quarter as previously disclosed we recorded equity income of 171 million related to the sale of tell us garden with 50% allocated to each of our wireless and wireline operating segments concurrently we committed to it.
Donation to the tell us friendly future foundation of 118 million of which 50% was allocated to restructuring and other costs in each of our wireless and wireline segment. Lastly, we recorded a long term debt prepaid.
In mid premium of 34 million before income taxes or four cents per share after taxes.
To review of our results.