NYSE$LUMN

Lumen Technologies Inc · Q1 2025 earnings

Q1 2025 earnings · · After market close · Investor relations

Briefing

Lumen reported Q1 2025 operating revenue of $3.18B with a net loss of $201M and diluted EPS of $(0.20).

Operating revenue was $3.18 billion while interest expense and debt actions contributed to a net loss of $201 million, or $0.20 per share. The company continued fiber and quantum-fiber transformation investments.

  • Q1 operating revenue $3.18B.
  • Net loss $201M; diluted EPS $(0.20).
  • Interest expense $347M in quarter.
  • Fiber build and enterprise connectivity focus.

Headline financials

Total Revenue

$3.18B

Previous: $3.29B-3.3%
EPS (adj)

-$0.20

Previous: $0.06-433.3%
Adjusted EBITDA

$830M

Previous: $807M+2.9%
Adjusted EBITDA Excluding Special Items

$929M

Previous: $977M-4.9%
Adjusted EBITDA Margin

26.1%

Previous: 24.5%+6.5%
Adjusted EBITDA Margin Excluding Special Items

29.2%

Previous: 29.7%-1.7%
Unlevered Cash Flow

$563M

Previous: $670M-16.0%
Unlevered Cash Flow Excluding Cash Special Items

$613M

Previous: $799M-23.3%
Net Income Excluding Special Items

-$129M

Previous: -$41M-214.6%
Capital Expenditures

$791M

Previous: $713M+10.9%
Mass Markets Total Broadband Subscribers

2.5M

Previous: 2.7M-7.5%
Fiber Broadband Subscribers

1.1M

Previous: 952.0K+17.2%
Mass Markets Total Broadband Enabled Units

22.0M

Previous: 21.8M+0.9%
Net Cash Provided by Operating Activities

$1.1B

Previous: $1.1B-0.6%
Free Cash Flow Excluding Cash Special Items

$354M

Previous: $518M-31.7%
Net (Loss) Income Margin

-6.3%

Previous: 1.7%-470.6%
Net Income (Loss) Margin Excluding Special Items

-4.1%

Previous: -1.2%-241.7%
Net Income

-$201M

Previous: $57M-452.6%
Operating Income

$107M

Previous: $45M+137.8%
Gross Profit

$782M

Previous: $1.64B-52.3%

Revenue & EPS history

Lumen · Revenue · Quarterly

$3.18B

Q1 2025-3.3%vs Q1 2024
Beat estimate in 10 of 15 quarters(67%)
ActualEstimate

Revenue by segment

Lumen · $3.64B total across 5 segments · Q3 2023

  • Large Enterprise
    $1.18B+40.0%
  • Wholesale
    $770M-14.6%
  • Mass Markets Segment Revenue
    $747M-36.3%
  • Mid-Market Enterprise
    $498M-19.4%
  • Public Sector
    $444M

Forward guidance

Management discusses operating priorities, capital allocation, and sector risks in the quarterly filing.

Tailwinds

  • Headline results and segment trends anchor the quarter.
  • Liquidity supports operations and strategic initiatives.
  • MD&A outlines near-term priorities.

Headwinds

  • Macro, rates, or input costs may pressure margins.
  • One-time items affect comparability.
  • Execution risk on growth or restructuring plans.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q1 2025

Historical avgQ1 2025

+0.5%

Avg return

Earnings day

+1.8%

Avg return

5 days after

-2.0%

Avg return

30 days after

49%

33 / 68 earnings

Positive

+156.0%

Q2 2024

Best reaction

-34.2%

Q3 2023

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026+4.6%-9.6%-3.6%
Q4 2025-21.6%-8.2%-21.7%
Q3 2025+14.2%+5.0%-21.6%
Q1 2025+6.9%+20.2%+11.4%
Q4 2024-1.4%-1.2%+5.2%
Q3 2024+20.6%+28.2%-13.5%
Q2 2024+156.0%+115.1%+112.4%
Q1 2024-0.8%+8.2%+4.9%
Q4 2023+12.4%+17.8%+34.1%
Q3 2023-34.2%-24.8%-12.1%
Q2 2023+0.0%-7.3%-11.2%
Q1 2023-3.8%-4.2%-18.1%
Q4 2022-21.6%-21.4%-42.9%
Q3 2022-21.9%-18.7%-25.8%
Q2 2022+0.6%+1.9%-8.5%
Q1 2022+3.2%+7.1%+11.8%
Q4 2021-14.6%-21.8%-15.8%
Q3 2021+12.2%+14.6%+1.1%
Q2 2021-7.3%-6.3%-1.5%
Q1 2021+2.3%+8.8%+12.3%
Q4 2020-8.4%-6.2%+11.7%
Q3 2020+1.9%+1.5%+15.9%
Q2 2020+6.9%+9.9%+8.9%
Q1 2020-4.9%-3.4%+8.0%
Q4 2019-7.0%-6.9%-32.2%
Q3 2019+8.9%+10.2%+3.6%
Q2 2019-10.5%-6.3%-1.3%
Q1 2019-4.8%-7.9%-7.6%
Q4 2018-12.2%-5.6%-16.9%
Q3 2018-11.9%-12.5%-18.6%
Q2 2018+12.5%+17.4%+17.7%
Q1 2018+7.0%+6.1%-2.6%
Q4 2017+11.2%+10.0%-0.5%
Q3 2017-4.6%-5.5%-9.6%
Q2 2017-3.9%-4.4%-14.2%
Q1 2017-8.5%-4.4%-0.3%
Q4 2016-1.8%-1.0%-7.0%
Q3 2016-17.8%-24.2%-22.6%
Q2 2016-1.1%-1.0%-8.7%
Q1 2016-7.8%
Q4 2015+10.0%
Q3 2015+0.8%
Q2 2015-1.8%
Q1 2015-4.1%
Q4 2014-2.2%
Q3 2014-6.3%
Q2 2014-0.9%
Q1 2014+7.0%
Q4 2013+1.5%
Q3 2013-4.7%
Q2 2013-5.0%
Q1 2013+0.5%
Q4 2012-22.7%
Q3 2012+1.9%
Q2 2012+1.6%
Q1 2012+0.2%
Q4 2010+0.6%
Q4 2011+0.6%
Q3 2011+3.6%
Q2 2011+4.9%
Q1 2010+0.8%
Q1 2011-1.7%
Q4 2008+0.2%
Q3 2010-0.7%
Q3 2009-0.7%
Q4 2009+0.2%
Q2 2010+0.2%
Q2 2009+0.2%

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