Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File No. 001-7784 LUMEN TECHNOLOGIES, INC. (Exact name of registrant as specified in its charter) Louisiana 72-0651161 (State or other ju ...

NEWS RELEASE Lumen Technologies reports first quarter 2024 results First Quarter 2024 Highlights DENVER, April 30, 2024 — Lumen Technologies, Inc. (NYSE: LUMN) reported results for the first quarter ended March 31, 2024. Kate Johnson, president and CEO of Lumen, commented "Lumen continued to make material progress in our turnaround with our strategy intently focused on empowering digital enterprises with next generation connectivity solutions powered by our best-in-class nationwide fiber network. "While we ...

Wall Street analysts forecast that Lumen (LUMN) will report quarterly loss of $0.04 per share in its upcoming release, pointing to a year-over-year decline of 140%. It is anticipated that revenues will amount to $3.39 billion, exhibiting a decline of 9.3% compared to the year-ago quarter.Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted upward by 11.1% to its current level. This demonstrates the covering analysts' collective reassessment of their initial projections during ...

Lumen Technologies, Inc (LUMN) is scheduled to report first-quarter 2024 results on Apr 30, after the closing bell.The Zacks Consensus Estimate for total revenues is pegged at $3.39 billion, suggesting a fall of 9.3% from a year ago. The consensus estimate is currently pegged at a loss of 4 cents per share. In the year-ago quarter, LUMN reported earnings of 10 cents.The company missed the Zacks Consensus Estimate in two of the last four quarters and beat in the remaining quarters. It has a trailing four-qua ...

Summary of Lumen Technologies, Inc. Conference Call Company Overview - **Company**: Lumen Technologies, Inc. (NYSE:LUMN) - **Date**: March 22, 2024 - **Participants**: Chris Stansbury (CFO), Jonathan Chaplin (New Street Research) Key Points Industry Context - The telecommunications industry is experiencing a shift from legacy services to more innovative offerings, particularly in the enterprise sector, driven by the demand for digital transformation and increased networking capacity due to AI and cloud services [3][20][22]. Financial Structure and Strategy - Lumen successfully executed a Transaction Support Agreement (TSA), which is seen as a major milestone that allows the company to focus on business growth with a clear runway until 2029 [4][5]. - The company previously had a $1.1 billion annual dividend and $20 billion in outstanding debt, with significant portions due by 2027 [4]. - The TSA has improved market confidence and provided necessary financing to support the company's turnaround efforts [4][5]. Revenue and EBITDA Projections - Lumen anticipates a return to revenue and EBITDA growth in 2025, with EBITDA expected to accelerate to approximately 9% growth by 2027 [6][8]. - The company acknowledges challenges in 2024 guidance due to customer concerns about liquidity prior to the TSA execution [6][8]. Customer Dynamics - Smaller customers expressed concerns about Lumen's longevity, while larger customers were more focused on the company's operational focus [7][8]. - The company is working on improving customer experience and operational efficiency, which is expected to enhance sales rates and overall performance [10][16]. Capital Expenditure (CapEx) Insights - The CapEx guidance for 2024 remains largely unchanged, with a focus on improving internal processes and customer experience rather than significant new capacity [11][12][16]. - There is a notable demand for increased networking capacity driven by hyperscalers and large enterprises, particularly in the context of AI [12][13]. Competitive Landscape - Lumen is positioned to capture market share as competitors focus on consumer segments rather than enterprise [19][20]. - The company is shifting away from legacy telecom services, which are declining, and investing in future growth areas [19][20]. Market Opportunities - The growth of Network-as-a-Service (NaaS) is highlighted as a significant opportunity, with Lumen's ability to deliver NaaS at a deeper network layer providing a competitive advantage [21][22]. - The company is exploring potential partnerships and joint ventures to enhance its mass market fiber opportunities [39][42]. Long-term Outlook - Lumen's capital structure is not dependent on the mass markets business, and the company believes it can improve EBITDA and leverage before any refinancing needs arise [45][46]. - The focus remains on driving innovation and operational improvements to ensure long-term success and sustainability [45][46]. Additional Insights - The company is considering various strategies for its mass market business, including potential joint ventures and wholesale opportunities [39][40]. - There is a growing concern among cloud providers about future infrastructure capacity, which could stabilize or increase pricing for long-haul networks [25][26]. This summary encapsulates the key discussions and insights from the conference call, highlighting Lumen Technologies' strategic direction, financial outlook, and market positioning within the telecommunications industry.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File No. 001-7784 Lumen Technologies, Inc. (Address of principal executive offices) (Zip Code) (318) 388-9000 (Registrant's telephone number, including area cod ...

Summary of Lumen Technologies, Inc. Conference Call Company Overview - **Company**: Lumen Technologies, Inc. (NYSE:LUMN) - **Date**: December 5, 2023 - **Participants**: Chris Stansbury (EVP and CFO), Batya Levi (UBS) Key Points Company Transformation and Focus for 2024 - Lumen is in the midst of a transformation, likened to renovating a house, focusing on internal improvements such as customer retention and innovation [2][18] - The company aims to show results from its transformation efforts in 2024, aligning organizational objectives to support this [2] TSA Update - Lumen is working on a Transaction Support Agreement (TSA) to address its capital structure and refinance debt, particularly due in 2027 [5][6] - The TSA is expected to close by December 31, 2023, and is crucial for stabilizing customer confidence [10][12] Financial Strategy and Debt Management - The company anticipates a higher interest expense due to the refinancing, estimating a $200 million to $300 million gap to be addressed without expanding consumer builds [7][8] - Lumen is focused on maintaining a healthy capital structure while investing in its turnaround [5][6] Innovation and Market Position - Lumen is introducing proprietary technologies such as NaaS (Network as a Service), ExaSwitch, and edge fabric to enhance its service offerings beyond traditional fiber connectivity [12][28] - The company aims to shift the narrative from being seen as a "dumb pipe" provider to a technology-focused service provider [13][14] Enterprise Segment Insights - The enterprise segment is crucial for Lumen, with a focus on migrating customers from legacy products to innovative solutions [15][16] - The company plans to provide better metrics around its enterprise performance and customer migration strategies in the future [16] Market Trends and Competition - The macro environment is showing signs of improvement, with expectations for better investment in the coming year as inflation moderates [22][23] - Lumen is observing an explosion in data demand driven by GenAI and hybrid cloud environments, positioning itself to meet these needs [24][25] Cost Management and Efficiency - Lumen has identified a $300 million cost-cutting opportunity, which will impact the financials in 2024 [58][60] - The company is focused on improving operational efficiency and customer experience through internal investments and technology upgrades [21][66] Future Outlook - Lumen expects to see a reduction in the rate of revenue decline and aims for a point of inflection towards growth in 2025 [40][66] - The company is cautious about external funding opportunities and is prioritizing internal returns on investment [57][61] Fiber-to-the-Home Strategy - Lumen views its fiber-to-the-home business as important but distinct from its enterprise operations, indicating a preference for enterprise investments over consumer fiber builds [45][46] - The company is exploring strategic options for its fiber segment, including potential partnerships or market sales [54][55] Conclusion - Lumen Technologies is navigating a complex transformation while addressing debt concerns and focusing on innovation in its service offerings. The company is optimistic about future growth driven by improved operational efficiency and a shift in market dynamics.

Lumen Technologies, Inc. (NYSE:LUMN) Raymond James TMT and Consumer Conference Call December 4, 2023 2:15 PM ET Company Participants Chris Stansbury - Chief Financial Officer Conference Call Participants Frank Louthan - Raymond James Frank Louthan My name is Frank Louthan. I'm the senior wireline analyst here at Raymond James. We're very pleased to have Lumen back here with us at the conference. We've got Chris Stansbury, Chief Financial Officer. Question-and-Answer Session Frank Louthan And so, Chris, why ...

Lumen Technologies, Inc. (NYSE:LUMN) Q3 2023 Earnings Conference Call October 31, 2023 5:00 PM ET Company Participants Mike McCormack - Senior Vice President, Investor Relations Kate Johnson - President and Chief Executive Officer Chris Stansbury - Executive Vice President and Chief Financial Officer Conference Call Participants Simon Flannery - Morgan Stanley Nick Del Deo - MoffettNathanson Michael Rollins - Citi Batya Levi - UBS David Barden - Bank of America Greg Williams - TD Cowen Frank Louthan - Raymo ...

Third Quarter 2023 Results OCTOBER 31, 2023 Forward-Looking Statements Except for historical and factual information, the matters set forth in this presentation and other of our oral or written statements identified by words such as "estimates," "expects," "anticipates," "believes," "plans," "intends," "will," and similar expressions are forward-looking statements as defined by the federal securities laws, and are subject to the "safe harbor" protections thereunder. These forward-looking statements are not ...