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Jun 30, 2022
Lumen Q2 2022 Earnings Report
Lumen's revenue trajectory improved and Quantum Fiber locations enabled accelerated in Q2 2022. The divestiture of the Latin America business was completed and the divestiture of the 20-state ILEC business is expected to close early in the fourth quarter of this year.
Key Takeaways
Lumen Technologies reported a decrease in total revenue and net income for Q2 2022 compared to Q2 2021. Total revenue was $4.612 billion, and net income was $344 million. The company reiterated its full-year 2022 financial outlook measures and completed the divestiture of its Latin American business.
Reported Net Income of $344 million for the second quarter 2022, compared to reported Net Income of $506 million for the second quarter 2021
Diluted EPS of $0.34 for the second quarter 2022, compared to $0.46 per share for the second quarter 2021. Excluding Special Items, Diluted EPS of $0.35 per share for the second quarter 2022, compared to $0.48 per share for the second quarter 2021
Generated Adjusted EBITDA of $1.811 billion for the second quarter 2022, compared to $2.109 billion for the second quarter 2021, excluding Special Items of $47 million and $20 million, respectively
Generated Free Cash Flow of $668 million for the second quarter 2022, compared to $1.044 billion for the second quarter 2021, excluding cash paid for Special Items of $33 million and $51 million, respectively
Lumen
Lumen
Lumen Revenue by Segment
Revenue by Segment
Large Enterprise Revenue
CapyFin.comMid-Market Enterprise Revenue
CapyFin.comWholesale Revenue
CapyFin.comInternational and Other Revenue
CapyFin.comMass Markets Segment Revenue
CapyFin.com Forward Guidance
The company reiterated its full-year 2022 financial outlook measures:
Positive Outlook
- Adjusted EBITDA: $6.9 to $7.1 billion
- Free Cash Flow: $2.0 to $2.2 billion
- Net Cash Interest: $1.3 to $1.4 billion
- GAAP Interest Expense: $1.350 billion
- Dividends: $1.00 per share
Challenges Ahead
- Capital Expenditures: $3.2 to $3.4 billion
- Depreciation and Amortization: $3.2 to $3.4 billion
- Stock-based Compensation Expense: ~$150 million
- Cash Income Taxes: ~$100 million
- Full Year Effective Income Tax Rate: ~26%
Revenue & Expenses
Visualization of income flow from segment revenue to net income