Lumen (LUMN) came out with a quarterly loss of $0.13 per share versus the Zacks Consensus Estimate of a loss of $0.20. This compares to loss of $0.09 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 35%. A quarter ago, it was expected that this telecommunications would post a loss of $0.09 per share when it actually produced a loss of $0.13, delivering a surprise of -44.44%.Over the last four quarters, the company has surpassed ...

| --- | --- | |-------|-------| | | | | | | LUMEN® 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 a ...

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 September 30, 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) | --- | --- | |-------------------- ...

Financial Performance - Reported Net Loss of $(148) million for Q3 2024, compared to $(78) million for Q3 2023, representing a 90% increase in net loss year-over-year [4] - Adjusted EBITDA for Q3 2024 was $899 million, down 14% from $1.049 billion in Q3 2023 [4] - Total Revenue for Q3 2024 was $3.221 billion, a decrease of 12% compared to $3.641 billion in Q3 2023 [6] - Operating Income for Q3 2024 was $126 million, a decrease of 43% from $223 million in Q3 2023 [25] - Basic Loss Per Share for Q3 2024 was $(0.15), an increase of 88% compared to $(0.08) in Q3 2023 [25] - Total Operating Expenses decreased by 9% to $3.095 billion in Q3 2024 from $3.418 billion in Q3 2023 [25] - Adjusted EBITDA and Adjusted EBITDA Margin metrics are used to evaluate profitability and operating performance, although specific figures were not provided in the documents [36][37] Cash Flow and Liquidity - Free Cash Flow for Q3 2024 was $1.182 billion, significantly up from $38 million in Q3 2023 [6] - The company generated Net Cash Provided by Operating Activities of $2.032 billion in Q3 2024, up from $881 million in Q3 2023 [6] - Free Cash Flow, excluding Special Items, was $1.198 billion in Q3 2024, significantly up from $43 million in Q3 2023 [12] - Free Cash Flow guidance for 2024 has been raised to a range of $1.2 billion to $1.4 billion, up from the previous range of $1.0 billion to $1.2 billion [14] - Lumen Technologies reported a net cash provided by operating activities of $2,032 million for Q3 2024, compared to $881 million in Q3 2023 [48] - The company achieved a Free Cash Flow of $1,182 million in Q3 2024, significantly up from $38 million in Q3 2023 [48] Revenue Breakdown - North America Business Revenue decreased by 7% year-over-year to $2.443 billion in Q3 2024 from $2.641 billion in Q3 2023 [6] - International and Other revenue dropped 65% year-over-year to $93 million in Q3 2024 from $264 million in Q3 2023 [10] - Total Revenue for Q3 2024 was $3.221 billion, a decrease of 12% compared to $3.641 billion in Q3 2023 [11] - Total revenue for Q3 2024 was $3,221 million, a decrease from $3,641 million in Q3 2023 [50] Debt and Equity - Long-term debt decreased from $19,831 million to $18,142 million, reflecting the company's efforts to manage its debt levels [27] - The total stockholders' equity decreased from $417 million to $342 million, indicating a decline in the company's net worth [27] - Total current liabilities rose from $3,534 million to $3,940 million, primarily due to an increase in current maturities of long-term debt from $157 million to $415 million [27] Subscriber Growth - Fiber broadband subscribers grew to 1,035 thousand in Q3 2024, up from 992 thousand in Q2 2024 and 896 thousand in Q3 2023 [30] - The company continues to see sales momentum in its Quantum Fiber business, achieving record net subscription adds [2] Special Items and Costs - Special items impacting Adjusted EBITDA totaled $56 million in Q3 2024, compared to $55 million in Q3 2023 [46] - The company incurred transaction and separation costs of $41 million in Q3 2024, up from $28 million in Q3 2023 [46] - Severance costs for Q3 2024 were $12 million, compared to $8 million in Q3 2023 [46] Outlook - The updated full-year 2024 financial outlook for Adjusted EBITDA is projected to be between $3.9 billion and $4.0 billion, unchanged from the previous outlook [14] - The company expects Adjusted EBITDA for the twelve months ending December 31, 2024, to be in the range of $3,900 million to $4,000 million [53] - Lumen anticipates Free Cash Flow for the twelve months ending December 31, 2024, to be between $1,200 million and $1,400 million [53] Tax and Cash Position - The company received an approximately $700 million tax refund during Q1 2024 [14] - As of September 30, 2024, Lumen had cash and cash equivalents of $2.640 billion [12] - Cash and cash equivalents increased from $2,234 million at the end of 2023 to $2,640 million by September 30, 2024 [27] Other Financial Metrics - Capital Expenditures for Q3 2024 were $850 million, a slight increase from $843 million in Q3 2023 [10] - The company reported a change in deferred revenue of $1,572 million for the nine months ended September 30, 2024, compared to $161 million in the same period of 2023 [28] - Net loss for the nine months ended September 30, 2024, was $140 million, a significant improvement compared to a net loss of $8,303 million in the same period of 2023 [28] - Total assets decreased slightly from $34,018 million on December 31, 2023, to $33,989 million on September 30, 2024 [27]

DENVER, Nov. 5, 2024 /PRNewswire/ -- Lumen Technologies, Inc. (NYSE: LUMN) reported results for the third quarter ended September 30, 2024.Big Tech is Choosing Lumen to Build the Backbone for the AI Economy Continued operational progress and sales momentum across our growth portfolio. Record quarter for net subscription adds in Quantum Fiber business. Delivered new Lumen Private Connectivity Fabric (or PCF) sales since our last earnings report, which provides additional liquidity and flexibility to continue ...

Google Cloud underpins Lumen® Digital Twin technology, providing proactive insights across the Lumen network Google Cloud's Vertex AI platform enables new AI-powered applications to assist Lumen technicians and customer support teams Lumen Private Connectivity Fabric℠ will expand Google's network to support demand growth for Google Cloud's products and AI innovations DENVER, Nov. 5, 2024 /PRNewswire/ -- Lumen Technologies (NYSE: LUMN) announced a partnership with Google Cloud that is accelerating Lumen's ...

Lumen Technologies, Inc (LUMN) is scheduled to report third-quarter 2024 results on Nov. 5.Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar. The Zacks Consensus Estimate for total revenues is pegged at $3.2 billion, indicating a fall of 12% from a year ago. The consensus estimate for earnings is currently pegged at a loss of 5 cents per share. In the year-ago quarter, LUMN reported a loss of 9 cents per share.The company missed the Zacks Consensus Estimate in three of the last four q ...

Lumen's next-generation fiber network will support AWS infrastructure across the U.S. amid expansion of AI-driven services AWS generative AI technologies will transform and streamline Lumen's operations, paving the way for autonomous and dynamic networking capabilities DENVER and SEATTLE, Oct. 30, 2024 /PRNewswire/ -- Lumen Technologies (NYSE: LUMN) and Amazon Web Services (AWS), an Amazon.com company (NASDAQ: AMZN), announced an agreement to strengthen data center connectivity and optimize network delivery ...

This little AI software company needs to prove it can grow in the shadow of its bigger competitors. Lumen Technologies was one of the greatest comeback stories of 2024. The struggling telecom company's stock had dropped below $1 this June as investors fretted over the slow death of its business wireline segment. But it skyrocketed back to about $6 over the past four months as it secured several major AI deals. Microsoft mainly saved Lumen, which awarded it an artificial intelligence (AI) connectivity contra ...

Super Micro Computer and Lumen Technologies have ridden the artificial intelligence wave to big gains this year. The excitement behind artificial intelligence has driven the market to all-time highs. Any company that can tie its business to the future of artificial intelligence has seemingly done well, promising huge demand for its products or services from a new and untapped market. But as valuations have soared, the short sellers have moved in, trying to find stocks that can't live up to the promise or hy ...