NYSE$LUMN
Lumen Technologies Inc · Q4 2023 earnings
Q4 2023 earnings · · Investor relations
Briefing
Lumen reported a net loss impacted by a non-cash goodwill impairment charge, while making progress on strategic priorities and delivering on EBITDA and free cash flow guidance.
Lumen Technologies reported a net loss of $(1.995) billion for Q4 2023, which included a non-cash goodwill impairment charge of $1.9 billion. Excluding special items, diluted earnings per share was $0.08. The company generated adjusted EBITDA of $1.099 billion and free cash flow of $50 million, excluding special items.
- Announced Amended and Restated Transaction Support Agreement to address approximately $9 billion of outstanding indebtedness.
- Completed the $1.8 billion divestiture of its EMEA business and the sale of select CDN contracts.
- Generated Adjusted EBITDA of $1.099 billion for the fourth quarter 2023, compared to $1.393 billion for the fourth quarter 2022, excluding the effects of Special Items.
- Generated Free Cash Flow of $50 million for the fourth quarter 2023, compared to $126 million for the fourth quarter 2022, excluding cash paid for Special items.
Headline financials
Revenue & EPS history
Lumen · Revenue · Quarterly
$3.52B
Revenue by segment
Lumen · $3.64B total across 5 segments · Q3 2023
- Large Enterprise$1.18B+40.0%32.5%
- Wholesale$770M-14.6%21.1%
- Mass Markets Segment Revenue$747M-36.3%20.5%
- Mid-Market Enterprise$498M-19.4%13.7%
- Public Sector$444M—12.2%
Forward guidance
Lumen provided its full-year 2024 financial outlook, anticipating adjusted EBITDA between $4.1 to $4.3 billion and free cash flow between $100 to $300 million.
Tailwinds
- Adjusted EBITDA: $4.1 to $4.3 billion
- Free Cash Flow: $100 to $300 million
- Net Cash Interest: $1.25 to $1.35 billion
- Capital Expenditures: $2.7 to $2.9 billion
- Cash Income Taxes/(Refund): ($200) to ($300) million
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 Q4 2023
+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
| Quarter | Report date | Reaction (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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