The earnings call highlighted significant progress in transforming Lumen into a digital network services company with a focus on AI and cloudification. Despite strong sales and customer satisfaction improvements, financial performance is still challenged by legacy revenue declines and pressures on EBITDA. The company is making strategic investments and leveraging partnerships to drive future growth.

Company Guidance

During the Lumen Technologies Q3 2024 earnings call, the company outlined its strategic transformation into a digital network services provider. This transformation focuses on two main growth vectors: building an AI backbone and cloudifying telecom. Lumen reported significant sales achievements, including $3 billion in additional private connectivity fabric (PCF) sales, which contribute to a total of over $8 billion booked since the previous quarter. The company highlighted its operational success, with North American large enterprise and mid-market sales increasing nearly 14% year-over-year, and a 50% year-to-date growth in 100- and 400-gig wave sales through September. Customer satisfaction scores improved significantly across all enterprise channels, with public sector scores increasing by 98 points. Lumen also achieved a record quarter for fiber net additions. The company reiterated its commitment to a $1 billion cost reduction by 2027 through network unification. Despite ongoing legacy revenue declines, Lumen raised its 2024 free cash flow guidance to $1.2 billion to $1.4 billion, driven by the strong performance in PCF sales.

AI Backbone and Cloudification Progress

Lumen is building the backbone for the AI economy, adding over $3 billion in additional private connectivity fabric (PCF) sales, partnering with major tech companies like Microsoft, Meta, AWS, and Google. Lumen Digital is cloudifying the industry, driving Network-as-a-Service (NaaS) adoption to over 400 customers.

Record Quantum Fiber Net Adds

For the consumer segment, the team had a record quarter for fiber net adds, adding 43,000 Quantum Fiber customers, bringing the total to over 1 million.

Debt Exchange and Balance Sheet Improvement

Successfully executed a debt exchange, terming out over $800 million in maturities to 2032. Increased funding flexibility with $8 billion in new PCF sales.

Improved Customer Satisfaction and Sales

Significant year-over-year improvement in customer satisfaction scores, with large enterprise up 17 points, wholesale up 11 points, mid-market up 28 points, and public sector up 98 points.

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Lumen Technologies (LUMN) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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LUMN Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Feb 11, 2025	2024 (Q4)	-0.06 / -	0.08	―	―	―
Nov 05, 2024	2024 (Q3)	-0.09 / -0.13	-0.09	-44.44% (-0.04)
Aug 06, 2024	2024 (Q2)	-0.05 / -0.13	0.1	-230.00% (-0.23)
Apr 30, 2024	2024 (Q1)	0.02 / -0.04	0.1	-140.00% (-0.14)
Feb 06, 2024	2023 (Q4)	-0.01 / 0.08	0.43	-81.40% (-0.35)
Oct 31, 2023	2023 (Q3)	0.05 / -0.09	0.14	-164.29% (-0.23)
Aug 01, 2023	2023 (Q2)	0.08 / 0.10	0.35	-71.43% (-0.25)
May 02, 2023	2023 (Q1)	0.10 / 0.10	0.63	-84.13% (-0.53)
Feb 07, 2023	2022 (Q4)	0.23 / 0.43	0.51	-15.69% (-0.08)
Nov 02, 2022	2022 (Q3)	0.36 / 0.14	0.49	-71.43% (-0.35)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

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LUMN Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Nov 05, 2024	$7.61	$9.02	+18.53%
Aug 06, 2024	$5.00	$6.63	+32.60%
Apr 30, 2024	$1.19	$1.21	+1.68%
Feb 06, 2024	$1.35	$1.45	+7.41%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

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