Lumen (LUMN) Reports Q3 Loss, Tops Revenue Estimates

Company Performance - Lumen reported a quarterly loss of $0.13 per share, better than the Zacks Consensus Estimate of a loss of $0.20, but worse than a loss of $0.09 per share a year ago, representing an earnings surprise of 35% [1] - The company posted revenues of $3.22 billion for the quarter ended September 2024, surpassing the Zacks Consensus Estimate by 0.58%, but down from $3.64 billion in the same quarter last year [2] - Over the last four quarters, Lumen has surpassed consensus EPS estimates two times and topped consensus revenue estimates three times [2] Stock Performance - Lumen shares have increased approximately 308.7% since the beginning of the year, significantly outperforming the S&P 500's gain of 19.8% [3] - The current consensus EPS estimate for the upcoming quarter is -$0.22 on revenues of $3.16 billion, and for the current fiscal year, it is -$0.59 on revenues of $12.92 billion [7] Industry Outlook - The Technology Services industry, to which Lumen belongs, is currently ranked in the top 32% of over 250 Zacks industries, indicating a favorable outlook compared to the bottom 50% [8] - The performance of Lumen's stock may be influenced by the overall industry outlook, as empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions [5][8]