Company and Industry Overview * **Company**: Lumen Technologies, Inc. (NYSE:LUMN) * **Industry**: Telecommunications, specifically telco wireless and cable space * **Event**: TD Cowen 52nd Annual Technology, Media & Telecom Conference * **Date**: May 30, 2024 Key Points Turnaround Strategy * **Focus Areas**: * **Innovation for Growth**: Enhancing network connectivity and offering additional services like security edge compute and seamless workload movement. * **Innovation for Cost**: Reducing costs through network unification and process simplification. * **Legacy Declines**: Addressing legacy product declines while managing cash flow for future investments. * **Challenges**: * Legacy product declines accelerating. * Industry-wide rewrite off-net activity driving short-term results at the expense of customer focus. Cost Reduction Efforts * **Workforce Reduction**: 7% reduction implemented, saving $90 million to $100 million in Q2. * **Cost Savings Opportunities**: * Simplifying processes and improving customer experience. * Integrating legacy systems to unlock cost potential. * **EBITDA Growth**: Expected to grow through the year due to cost savings and improved sales rates. AI-Driven Demand * **Generational Opportunity**: AI-driven demand expected to last 5-10 years. * **Revenue Growth**: Focus on selling connectivity solutions that enable on-demand data access and routing. * **Internal AI Applications**: Using AI tools like CoPilot for productivity improvements and code development. Consumer Business Strategy * **Strategic Review**: Exploring options for the consumer business, including potential divestiture. * **Market Conditions**: Current market conditions favoring joint ventures and fiber acquisition without taking on balance sheet risk. Business Segments * **Large Enterprise**: * Focus on driving execution and improving sales results. * Legacy declines and industry-wide bad behavior impacting growth. * **Mid Markets**: * Seeing notable improvement in sales and product portfolio. * Partner ecosystem expansion driving growth. * **Public Sector**: * Winning large contracts and seeing growth due to scaling of installations. Future Outlook * **Investor Day**: Expected to provide more visibility around free cash flow streams, cost paradigm, and consumer business direction. * **Innovation Initiatives**: Launching Lumen Defender, a security product, and focusing on big connectivity deals and security solutions.

Ford Motor Company (NYSE:F) Bernstein Annual Strategic Decisions Conference May 30, 2024 8:00 AM ET Company Participants James Farley - President & CEO Conference Call Participants Toni Sacconaghi - Bernstein Daniel Roeska - Bernstein Toni Sacconaghi Welcome, everyone. We're super excited to have Jim Farley, President and CEO of Ford, join us again this year at our conference. I'm Tony Sacconaghi, Bernstein's IT hardware and electric vehicles analyst. And I'm joined by Daniel Roeska, who's our U.S. autos an ...

Western Digital Corporation (NASDAQ:WDC) TD Cowen 52nd Annual Technology, Media & Telecom Conference May 30, 2024 9:05 AM ET Company Participants Peter Andrew - VP, Financial Planning and Analyst and IR David Goeckeler - CEO Conference Call Participants Krish Sankar - TD Cowen Krish Sankar All right. Good morning, everybody. I'm Krish Sankar, the TD Cowen analyst covering Western Digital. We're very fortunate enough to have Dave Goeckeler, the CEO and also Peter Andrew, Head of IR for Western Digital. I'll ...

Greetings and welcome to the UiPath First Quarter 2025 Earnings Conference Call. At this time, all participants are in a listen-only mode. A brief question and answer session will follow the formal presentation. If anyone should require operator assistance during the conference, please press star zero on your telephone keypad. As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Alif Furwani, Senior Director of Investor Relations. Thank you, Alif. You may begin. Go ...

Lockheed Martin Corporation (NYSE:LMT) Bernstein's 40th Annual Strategic Decisions Conference Call May 30, 2024 8:00 AM ET Company Participants Jay Malave - Chief Financial Officer Frank St. John - Chief Operating Officer Conference Call Participants Doug Harned - Bernstein Doug Harned Okay, great. Good morning. I'm Doug Harned, Bernstein's aerospace and defense analyst. I am really thrilled to have with us again Lockheed Martin. We've got with us today Frank St. John, the Chief Operating Officer of Lockhee ...

The Goldman Sachs Group, Inc. (NYSE:GS) Bernstein's 40th Annual Strategic Decisions Conference May 30, 2024 8:00 AM ET Company Participants John Waldron - COO and President Conference Call Participants Unidentified Analyst All right. Good morning, everyone, and thanks for making it in again for the second day. We'll get started here with our first session for the day. We have Goldman Sachs again. Representing Goldman, we have John Waldron, Chief Operating Officer and President. Thank you, John. I think you ...

Micron Technology, Inc. (NASDAQ:MU) Goldman Sachs’ Global Semiconductor Conference May 30, 2024 8:20 AM ET Company Participants Sumit Sadana - Chief Business Officer Conference Call Participants Toshiya Hari - Goldman Sachs Toshiya Hari Good morning, everyone. My name is Toshiya Hari. I cover the U.S. Semiconductor and Semiconductor Cap Equipment Space. Very honored, very excited to have Sumit Sadana from Micron. He's the Chief Business Officer for the company. Sumit, thank you so much for supporting the c ...

Summary of Warner Bros. Discovery, Inc. Conference Call Company Overview - **Company**: Warner Bros. Discovery, Inc. (NASDAQ: WBD) - **Event**: Bernstein's 40th Annual Strategic Decisions Conference - **Date**: May 30, 2024 Key Points Industry and Company Integration - Warner Bros. Discovery is a storytelling company that has been integrating two large companies over the past two years, focusing on cost efficiencies and growth [3][2] - The company emphasizes the importance of high-quality content and has a diverse library of intellectual property (IP) [6][7] Content Production and Quality - The company has consistently produced high-quality content, including popular series like "Succession," "Game of Thrones," and "The Last of Us" [5][6] - The strength of the company lies in its creative team and established IP, which includes franchises like DC Comics and Harry Potter [6][7] Global Expansion and Scale - Warner Bros. Discovery aims to expand its streaming service, Max, globally, with a focus on local content and languages [10][12] - The company expects that two-thirds of its future subscribers will come from outside the U.S., indicating a shift towards international growth [12][11] Bundling and Consumer Experience - The company is exploring bundling opportunities with Disney and Fox to enhance consumer experience and reduce churn [15][14] - Bundling is seen as a way to provide a better consumer experience by offering multiple content options in one place [23][20] Financial Health and Strategy - Warner Bros. Discovery has improved its financial health, generating over $6 billion in free cash flow and paying down $15 billion in debt [32][31] - The company is focused on maintaining a healthy balance sheet while pursuing global expansion and content quality [32][34] Future Outlook - The CEO believes that the future of the company lies in its ability to deliver high-quality content globally, which will drive growth [58][57] - There is an expectation of consolidation in the media industry, with fewer global streaming players emerging over the next few years [36][37] CNN and News Strategy - CNN is viewed as a strong asset for Warner Bros. Discovery, focusing on its global brand and trusted news reporting [52][54] - The company aims to leverage CNN's extensive journalist network to enhance its digital business and credibility [53][54] Sports Programming - Warner Bros. Discovery continues to evaluate its sports programming strategy, including negotiations with the NBA, while also expanding its offerings in other sports [45][46] - The company is strategically adding sports content to maintain a robust offering across its platforms [47][49] Additional Insights - The CEO emphasizes the importance of storytelling and attracting top creative talent as key to the company's success [30][33] - The company is committed to being a global player in the media landscape, focusing on both content creation and distribution [41][43]

Hello. Thank you for standing by and welcome to the Box, Inc. First Quarter Fiscal 2025 Earnings Conference Call. All lines have been placed on mute to prevent any background noise. After the speaker's remarks, there will be a question and answer session. If you would like to ask a question during this time, please press star 1 on your telephone keypad. I would now like to turn the conference over to Cynthia Hipponia, Vice President, Investor Relations. You may begin. Good afternoon and welcome to Box's fir ...

QUALCOMM Incorporated (NASDAQ:QCOM) Bernstein's 40th Annual Strategic Decisions Conference Call May 23, 2024 2:30 PM ET Company Participants Cristiano Amon - President & Chief Executive Officer Conference Call Participants Stacy Rasgon - Bernstein Stacy Rasgon Good afternoon, everyone. I hope you had a good lunch. Thank you for coming. I'm Stacy Rasgon. I'm Bernstein's senior research analyst for U.S. semiconductors. And I really can't express what an honor it is to have our guest here today, Cristiano Amon ...