11:36 AM EDT, 05/10/2024 (MT Newswires) -- Telus International reported Q1 2024 revenue that missed RBC and Street estimates. While management had telegraphed that it would no longer add back stock-based compensation or changes in combination-related provisions when calculating adj. EBITDA and adj. EPS (making the reported numbers closer to IFRS), the change in definition and "lumpiness" in business-combination provisions resulted in a $29 million benefit to adj. EBITDA, without which the company would have also missed adj. EBITDA estimates, RBC said.

Analyst Daniel Perlin believes that this noise is weighing on the stock price.

Maintain Outperform, trimming target by US$1, to US$10.

Price: 8.55, Change: -0.15, Percent Change: -1.72