Lumen Technologies, Inc. (NYSE:LUMN) Bank of America Securities 2024 Leveraged Finance Conference Call December 3, 2024 10:10 AM ET Company Participants Chris Stansbury - Executive Vice President & Chief Financial Officer Conference Call Participants Ana Goshko - Bank of America Ana Goshko Joining us at the Bank of America Leverage Finance Conference. I'm Ana Goshko from the fixed income research side, I cover Telecom and Technology. And we're thrilled to have Lumen Technologies with us. Chris Stansbury, th ...

Financial Data and Key Metrics Changes - The EBITDA for Lumen's NaaS market business is approximately $1 billion, with a significant portion generated from fiber, while the company is heavily investing in marketing and infrastructure, which consumes cash [4][10] - The company has a revenue of $13 billion and an EBITDA of $4 billion, with annual CapEx of $3 billion and a $9 billion maturity tower due in 2029 [58][60] Business Line Data and Key Metrics Changes - The NaaS market business is the smallest segment but is currently in the spotlight due to industry activity, with a focus on separating consumer and enterprise segments [3][5] - Lumen has approximately 10 million homes in its NaaS footprint, with 4 million enabled on the fiber side and 1 million customers on fiber, indicating strong penetration rates [7][8] Market Data and Key Metrics Changes - The competitive landscape is evolving, with Verizon's acquisition of Frontier for $20 billion setting a new metric for fiber and copper multiples, which Lumen is considering in its strategic planning [3][9] - The company is focusing on enterprise networking, which is seen as the future of business, while the consumer segment is viewed as less favorable for investment [5][61] Company Strategy and Development Direction - Lumen is prioritizing investments in the enterprise space, indicating a strategic shift away from consumer markets, which are perceived as less profitable [5][17] - The company is leveraging existing conduit capacity and focusing on digital networking solutions to meet the growing demand for AI and data services [40][41] Management's Comments on Operating Environment and Future Outlook - Management acknowledges the challenges in the legacy business but emphasizes the importance of monetizing existing assets to fund future growth in enterprise networking [59][60] - The company expects a pivot point in EBITDA by 2026, with a V-shaped recovery anticipated following a low point in 2025 [65][66] Other Important Information - Lumen has announced a $5 billion contract, which includes over 10 contracts, with significant cash flow expected from construction-related revenues [30][35] - The company is also exploring additional opportunities worth $7 billion, with a focus on hyperscalers and cloud providers as primary customers [56][57] Q&A Session All Questions and Answers Question: What is the current status of Lumen's NaaS market business? - The NaaS market business is generating about $1 billion in EBITDA, with a focus on fiber and significant investments in marketing and infrastructure [4][10] Question: How many homes are left in Lumen's NaaS footprint? - Lumen has approximately 10 million homes in its footprint, with 4 million enabled on the fiber side [7] Question: What is the company's strategy regarding consumer and enterprise markets? - Lumen is focusing on enterprise investments and does not plan to consolidate in the consumer space, which is seen as less favorable [5][17] Question: What are the expectations for EBITDA and revenue growth? - Management expects a pivot point in EBITDA by 2026, with a V-shaped recovery anticipated after a low point in 2025 [65][66] Question: Can you elaborate on the $5 billion contract? - The $5 billion contract includes over 10 contracts, with significant cash flow expected from construction-related revenues [30][35]

Lumen Technologies, Inc. (NYSE:LUMN) Citi's 2024 Global TMT Conference September 4, 2024 12:30 PM ET Company Participants Chris Stansbury - EVP, CFO Conference Call Participants Brian Badillo - Citi Brian Badillo Thank you all. Is it 12:30 as we're starting or 12:30. Okay. Great. Well, thank you all for coming. Appreciate you've taken the time to join us here. I have the pleasure to be joined by Chris Stansbury from Lumen. Myself, I'm Brian Badillo from Citi. I'm part of the sales team at Citi. So some of y ...

Lumen Technologies, Inc. (NYSE:LUMN) Bank of America 2023 Leverage Finance Conference November 28, 2023 2:10 PM ET Company Participants Chris Stansbury - Executive Vice President and Chief Financial Officer Conference Call Participants Ana Goshko - Managing Director, Bank of America Ana Goshko This is the Bank of America 2023 Leverage Finance Conference, and I'm Ana Goschko. I cover Telecom and Technology Credit, and we're thrilled to have Lumen Technologies with us. And we have Chris Stansbury, Executive V ...

Lumen Technologies, Inc. (NYSE:LUMN) BofA Securities 2023 Media, Communications and Entertainment Conference September 14, 2023 1:10 PM ET Company Participants Chris Stansbury - EVP and CFO Conference Call Participants Dave Barden - Bank of America Merrill Lynch Dave Barden All right. Welcome back from lunch, everybody. Thanks for joining us, while people kind of filter in, but, we'll get started to stay on time. Thank you so much, I'm Dave Barden. I head up telecommunications and common infrastructure rese ...

Lumen Technologies, Inc. (NYSE:LUMN) Goldman Sachs 2023 Communacopia + Technology Conference September 7, 2023 6:45 PM ET Company Participants Chris Stansbury - EVP and CFO Conference Call Participants Unidentified Company Representative Welcome, everyone. It's been three terrific days here. Thanks to all of you for turning out, and it's really an honor to welcome back to our Communacopia & Technology Conference for the second year Chris Stansbury, the CFO of Lumen Technologies. Thanks for being back here w ...