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Mar 31, 2024
Lumen Q1 2024 Earnings Report
Lumen's first quarter performance in 2024 was marked by strategic debt restructuring and a focus on digital enterprise solutions, despite facing expected headwinds.
Key Takeaways
Lumen Technologies reported a net income of $57 million and free cash flow of $518 million, excluding special items. The company successfully completed TSA transactions, strengthening its balance sheet and securing new liquidity. While revenue declined year-over-year, Lumen saw accelerated North America Enterprise sales and improved customer satisfaction.
Successfully completed TSA transactions, addressing over $15 billion in debt and commitments.
Secured access to over $2.3 billion in new liquidity to fuel pivot to growth.
Generated Free Cash Flow of $518 million, excluding cash paid for Special Items.
Reiterated full-year 2024 financial outlook, expecting Q1 to be the low-point for Adjusted EBITDA.
Revenue by Segment
Forward Guidance
Lumen Technologies reiterated its full-year 2024 financial outlook.
Positive Outlook
- Adjusted EBITDA is expected to be between $4.1 to $4.3 billion.
- Free Cash Flow is projected to be between $100 to $300 million.
- Net Cash Interest is anticipated to be between $1.25 to $1.35 billion.
- Capital Expenditures are expected to be between $2.7 to $2.9 billion.
- Cash Income Taxes/(Refund) is projected to be between ($200) to ($300) million, including an approximately $700 million tax refund received during the first quarter 2024.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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