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Jun 30, 2024
Lumen Q2 2024 Earnings Report
Lumen's Q2 2024 performance reflected a net loss, decreased revenue, and strategic advancements in key areas.
Key Takeaways
Lumen Technologies reported a net loss of $(49) million for Q2 2024, a significant improvement compared to the $(8.736) billion net loss in Q2 2023, which included a non-cash goodwill impairment charge. Total revenue decreased to $3.268 billion from $3.661 billion year-over-year. The company is focusing on driving commercial excellence, stabilizing the base, and innovating for growth, with a recent Microsoft partnership highlighting Lumen's position to capitalize on the demand for secure networks.
Reported a net loss of $(49) million, an improvement from the prior year's $(8.736) billion net loss.
Diluted loss per share was $(0.05), compared to $(8.88) in Q2 2023.
Generated Adjusted EBITDA of $1.011 billion, down from $1.229 billion in Q2 2023.
Free Cash Flow was negative $(156) million, compared to negative $(896) million in Q2 2023, excluding special items.
Lumen
Lumen
Lumen Revenue by Segment
Revenue by Segment
Large Enterprise Revenue
CapyFin.comMid-Market Enterprise Revenue
CapyFin.comPublic Sector Revenue
CapyFin.comNorth America Enterprise Channels Revenue
CapyFin.comWholesale Revenue
CapyFin.comNorth America Business Revenue
CapyFin.comInternational and Other Revenue
CapyFin.comBusiness Segment Revenue
CapyFin.comMass Markets Segment Revenue
CapyFin.comGrow Revenue
CapyFin.comNurture Revenue
CapyFin.comHarvest Revenue
CapyFin.comOther Revenue
CapyFin.com Forward Guidance
The Company updated its full-year 2024 financial outlook.
Positive Outlook
- Adjusted EBITDA is expected to be $3.9 to $4.0 billion.
- Free Cash Flow is projected to be $1.0 to $1.2 billion.
- Net Cash Interest is anticipated to be $1.15 to $1.25 billion.
- Capital Expenditures are estimated to be $3.1 to $3.3 billion.
- Cash Income Taxes/(Refund) are expected to be ($200) to ($300) million.
Challenges Ahead
- Outlook excludes the effects of Special Items.
- Outlook excludes goodwill impairments.
- Outlook excludes future changes in operating or capital allocation plans.
- Outlook excludes unforeseen changes in regulation, laws or litigation.
- Outlook excludes other unforeseen events or circumstances impacting financial performance.
Revenue & Expenses
Visualization of income flow from segment revenue to net income