Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

<ul><li>TELUS Corporation reported its second quarter 2026 results amid a transition phase under new leadership following the appointment of Victor Dodig as President and CEO.</li><li>The company’s strategy centers around restoring financial strength, simplifying operations, and focusing on core telecom and digital infrastructure investments to position for long-term value creation.</li><li>Financially, TELUS posted service revenues of CAD 4.4 billion, down 1% year-over-year, with adjusted EBITDA declining 2%.</li></ul>

TELUS Corporation reported its second quarter 2026 results amid a transition phase under new leadership following the appointment of Victor Dodig as President and CEO.The company’s strategy centers around restoring financial strength, simplifying operations, and focusing on core telecom and digital infrastructure investments to position for long-term value creation.Financially, TELUS posted service revenues of CAD 4.4 billion, down 1% year-over-year, with adjusted EBITDA declining 2%.

TELUS’ 55% Dividend Cut — A Bold Reset To Tackle 3.5x Leverage!

<ul><li>The latest financial results and strategic update from TELUS Corporation reveal a company undergoing a significant transformation while operating with a strong foundational position in the Canadian telecommunications market.</li><li>TELUS continues to benefit from its leadership in the PureFibre network and 5G deployments, which underpin sustained customer loyalty and growth, particularly in mobility services.</li><li>However, the company faces headwinds including competitive pressures, macroeconomic factors such as reduced immigration affecting addressable market size, and specific challenges within its digital portfolio.</li></ul>

The latest financial results and strategic update from TELUS Corporation reveal a company undergoing a significant transformation while operating with a strong foundational position in the Canadian telecommunications market.TELUS continues to benefit from its leadership in the PureFibre network and 5G deployments, which underpin sustained customer loyalty and growth, particularly in mobility services.However, the company faces headwinds including competitive pressures, macroeconomic factors such as reduced immigration affecting addressable market size, and specific challenges within its digital portfolio.

TELUS Corporation’s CAD 2.1 Billion Digital Hit — Can The AI Pivot Repair The Damage?

<ul><li>TELUS Corporation reported its financial results for the first quarter of 2026, highlighting continued growth in customer base, stable profitability, and strong free cash flow generation despite a competitive and evolving telecommunications environment.</li><li>The company added 262,000 customers, a record for the quarter, driven predominantly by growth in connected devices and internet subscribers.</li><li>This growth correlates with TELUS's extensive investment in its PureFiber network, valued at approximately CAD 20 billion, which supports their premium bundled offerings in mobile and fixed broadband services.</li></ul>

TELUS Corporation reported its financial results for the first quarter of 2026, highlighting continued growth in customer base, stable profitability, and strong free cash flow generation despite a competitive and evolving telecommunications environment.The company added 262,000 customers, a record for the quarter, driven predominantly by growth in connected devices and internet subscribers.This growth correlates with TELUS's extensive investment in its PureFiber network, valued at approximately CAD 20 billion, which supports their premium bundled offerings in mobile and fixed broadband services.

TELUS Adds 262,000 Customers: Can Fiber Keep Driving The Momentum?

<ul><li>TELUS Corporation delivered a quarter characterized by strong operational execution, continued customer growth, and improving financial discipline, although the broader environment remains competitive and pricing-sensitive.</li><li>The company reported industry-leading customer additions across both wireless and wireline segments, marking another year of surpassing one million total net additions.</li><li>This growth was supported by bundled offerings, network quality, and a continued focus on customer experience, as reflected in consistently low churn rates that remain below one percent for over a decade.</li></ul>

TELUS Corporation delivered a quarter characterized by strong operational execution, continued customer growth, and improving financial discipline, although the broader environment remains competitive and pricing-sensitive.The company reported industry-leading customer additions across both wireless and wireline segments, marking another year of surpassing one million total net additions.This growth was supported by bundled offerings, network quality, and a continued focus on customer experience, as reflected in consistently low churn rates that remain below one percent for over a decade.

TELUS Corporation Is Quietly Winning Millions of Customers—But Can Its Near-Zero Churn Sustain This Momentum?

<ul><li>TELUS Corporation’s fourth-quarter results and the full-year performance for 2025 present a mixed bag of achievements and challenges, reflecting the company’s robust operational strategies and the competitive dynamics of the telecom sector.</li><li>One of the company's notable achievements is its strong customer growth.</li><li>TELUS successfully added 1.1 million mobile and fixed net additions in 2025, marking its fourth consecutive year surpassing over a million new connections.</li></ul>

TELUS Corporation’s fourth-quarter results and the full-year performance for 2025 present a mixed bag of achievements and challenges, reflecting the company’s robust operational strategies and the competitive dynamics of the telecom sector.One of the company's notable achievements is its strong customer growth.TELUS successfully added 1.1 million mobile and fixed net additions in 2025, marking its fourth consecutive year surpassing over a million new connections.

TELUS Corporation: Healthcare Expansion Is Becoming a Real Growth Engine—Not Just Diversification!

Canada

TELUS Corporation is a telecommunications company providing a variety of communications products and services. The Company provides voice, data, Internet, and wireless services to businesses and consumers in Canada.

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TELUS (TU US)

TELUS’ 55% Dividend Cut — A Bold Reset To Tackle 3.5x Leverage!

TELUS Corporation reported its second quarter 2026 results amid a transition phase under new leadership following the appointment of Victor Dodig...

Baptista Research

TELUS Corporation’s CAD 2.1 Billion Digital Hit — Can The AI Pivot Repair The Damage?

The latest financial results and strategic update from TELUS Corporation reveal a company undergoing a significant transformation while operating...

Baptista Research

TELUS Adds 262,000 Customers: Can Fiber Keep Driving The Momentum?

TELUS Corporation reported its financial results for the first quarter of 2026, highlighting continued growth in customer base, stable...

Baptista Research

TELUS Corporation Is Quietly Winning Millions of Customers—But Can Its Near-Zero Churn Sustain This Momentum?

TELUS Corporation delivered a quarter characterized by strong operational execution, continued customer growth, and improving financial...

Baptista Research

TELUS Corporation: Healthcare Expansion Is Becoming a Real Growth Engine—Not Just Diversification!

TELUS Corporation’s fourth-quarter results and the full-year performance for 2025 present a mixed bag of achievements and challenges, reflecting...

Baptista Research

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