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Sep 30, 2024
Lumen Q3 2024 Earnings Report
Lumen's Q3 2024 performance was marked by a net loss but strong free cash flow, driven by operational progress and sales momentum in growth areas.
Key Takeaways
Lumen Technologies reported a net loss of $(148) million for Q3 2024, compared to a net loss of $(78) million in Q3 2023. Despite the net loss, the company generated a free cash flow of $1.2 billion, excluding special items. The company is focusing on becoming the trusted network for AI.
Lumen's net subscriptions in Quantum Fiber business reached a record for the quarter.
New Lumen Private Connectivity Fabric (PCF) sales provided additional liquidity and flexibility to reduce overall debt.
Adoption of Lumen Digital capabilities is growing, with promising network-as-a-service adoption metrics.
Lumen is updated its full-year 2024 financial outlook.
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
Lumen 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 expected to be $1.2 to $1.4 billion.
- Net Cash Interest is expected to be $1.15 to $1.25 billion.
- Capital Expenditures are expected to be $3.1 to $3.3 billion.
- Cash Income Taxes/(Refund) are expected to be ($200) to ($300) million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income