Lumen Technologies, Inc. (LUMN) is a global networking company that operates one of the world's most interconnected communications networks. It provides a wide range of integrated products and services to enterprise, wholesale, and residential customers, focusing on high-speed, secure data transmission and connectivity solutions. The company leverages its extensive fiber optic network to deliver advanced technologies such as edge computing, cybersecurity, and broadband services.
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Business Segment - Offers networking and communication solutions to enterprise, wholesale, and public sector customers, including services like private connectivity, managed security, and cloud-based applications.
- Large Enterprise - Provides tailored solutions for large-scale businesses and carriers in North America.
- Mid-Market Enterprise - Serves medium-sized businesses through direct and indirect channels.
- Public Sector - Delivers services to government entities and educational institutions.
- Wholesale - Supplies communication services to other telecom providers.
- International and Other - Caters to multinational enterprises and global carriers.
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Mass Markets Segment - Delivers broadband and voice services to residential and small business customers.
- Fiber Broadband - Provides high-speed internet using fiber-based infrastructure.
- Other Broadband - Offers lower-speed internet through copper-based networks.
- Voice and Other - Includes local and long-distance voice services and professional support.
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Grow Products - Focuses on emerging technologies such as edge computing, IP services, managed security, and unified communications.
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Nurture Products - Includes mature offerings like Ethernet and VPN services, supporting business connectivity needs.
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Harvest Products - Manages legacy services like traditional voice and private line services for cash flow optimization.
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Other Services - Encompasses equipment sales, professional services, and ancillary solutions to complement core offerings.
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| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Andrea Genschaw Executive | Chief Accounting Officer and Controller | Andrea Genschaw has served as the Chief Accounting Officer and Controller (Principal Accounting Officer) at Lumen Technologies since at least August 4, 2023. She has also held the role of Senior Vice President, Controller but does not serve on any board or committee at LUMN. | ||
Ashley Haynes-Gaspar Executive | Executive Vice President, Chief Revenue Officer | Ashley Haynes-Gaspar has served as the Executive Vice President, Chief Revenue Officer at Lumen Technologies since January 2024, where she oversees the company's revenue strategy. Previously, she served as Executive Vice President, Customer Experience Officer, Wholesale & International from January 2023 to January 2024. | ||
Chris D. Stansbury Executive | Executive Vice President and Chief Financial Officer | Chris D. Stansbury has served as the Executive Vice President and Chief Financial Officer at LUMN since April 2022, overseeing financial planning, accounting, tax, treasury, investor relations, procurement and supply chain management, and the global real estate portfolio. He did not hold any board or committee memberships at LUMN. | ||
David Ward Executive | Executive Vice President, Chief Technology and Product Officer | David Ward is the Executive Vice President, Chief Technology and Product Officer at Lumen Technologies since August 2024. Previously, he served as Chief Technology Officer from February 2024 to August 2024. | ||
Kate Johnson Executive | President and Chief Executive Officer | Board Member at United Parcel Service (UPS); Committees: Nominating and Corporate Governance, Risk Committees | Kate Johnson has been serving as the President and Chief Executive Officer of Lumen Technologies since November 2022. She brings extensive leadership experience from previous roles at Microsoft, GE Digital, Oracle, and Red Hat, driving digital transformation and business growth. | View Report → |
Chris Capossela Board | Independent Director | Corporate Board Member; Non-profit Board Member | Chris Capossela serves as an Independent Director at Lumen Technologies, having joined the board on October 29, 2024. Previously, he held executive roles at Microsoft for over 30 years, including serving as Executive Vice President and Chief Marketing Officer. | |
Diankha Linear Board | Board of Directors | Diankha Linear is an experienced leader in technology, logistics, and legal sectors with over 20 years of diverse roles, including serving as President & CEO of Community, Inc. (2021-2024). She brought her extensive background to Lumen when she was appointed to the Board of Directors, effective February 21, 2024. | ||
Hal Stanley Jones Board | Independent Director | Board Member at Playa Hotels and Resorts (since 2013) | Hal Stanley Jones is an independent director at Lumen Technologies since 2020, serving as Chair of the Audit Committee and as a member of the Risk and Security Committee. Previously, he served as CFO at Graham Holdings from 2009 to 2017 and held senior roles at The Washington Post Company. | |
Jim Fowler Board | Independent Director | Jim Fowler has been serving as an Independent Director at LUMN since August 7, 2023. He contributes as a member of the Audit and Risk and Security Committees and brings over 25 years of leadership experience from previous roles at AT&T, Accenture, General Electric, and Nationwide. | ||
Kevin P. Chilton Board | Independent Director | President, Chilton & Associates, LLC | Kevin P. Chilton has served as an independent director at Lumen Technologies since 2017, while contributing as a member of the Audit Committee and Chair of the Risk and Security Committee. His background spans extensive expertise in cybersecurity, risk management, and military leadership. | |
Laurie Siegel Board | Independent Director | Founder and Principal at LAS Advisory Services; Senior Advisor at G100; Director at FactSet Research Systems, Inc. | Laurie Siegel has served as an independent director at Lumen since 2009 and has chaired the Human Resources and Compensation Committee, contributing her extensive expertise in human capital and executive compensation. | |
Martha Helena Bejar Board | Independent Director | Senior Partner/Advisor at DaGrosa Capital Partners LLC; Chair of Nominations and Governance Committee at Commvault Systems; Chair of Nominating and Governance Committee at Sportsman’s Warehouse Holdings, Inc.; Chair of Nominating/Governance and Compensation Committees at Quadient SA | Martha Helena Bejar has been an independent director at Lumen Technologies since 2016, serving as Chair of the Nominating and Corporate Governance Committee and as a member of the Human Resources and Compensation Committee. She brings extensive experience from senior roles, including her current position as Senior Partner/Advisor at DaGrosa Capital Partners LLC. | |
Peter C. Brown Board | Director | Chairman, Grassmere Partners, LLC (2009–Present) ; Member of Audit and Finance Committees, EPR Properties (2010–Present) ; Chairman of the Audit Committee and Member of Compensation and Nominating Committees, Cineverse Corporation (Dates not specified) | Peter C. Brown has served as an independent director at Lumen Technologies since 2009, contributing on the Audit and Risk and Security Committees, and is set to retire from the board at the 2025 annual meeting. | |
Quincy L. Allen Board | Independent Director | Director at ABM Industries, Inc.; Director at Office Depot | Quincy L. Allen is an independent director at Lumen Technologies since February 25, 2021 with over 35 years of leadership experience in the technology services industry. He has contributed his expertise through committee roles at Lumen and prior leadership positions at companies like IBM, Unisys, and Xerox. | |
Steven T. Terry Clontz Board | Director | Corporate Advisor at ST Telemedia (2018–Present); Board Director of Armor (USA); Chair of the Executive Committee of UMobile (Malaysia) | Steven T. Terry Clontz has been serving as an independent director at Lumen Technologies since 2017, where he participates in the Human Resources and Compensation Committee and the Nominating and Corporate Governance Committee. He is a seasoned technology leader with extensive experience in telecommunications, having held leadership roles at companies such as StarHub and ST Telemedia. | |
T. Michael Glenn Board | Chairman of the Board | Director and Chair of Compensation Committee at Pentair PLC | T. Michael Glenn has served as the non-executive Chairman of the Board at LUMN since May 2020 and has been a Director since 2017. |
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Given the 10% YoY increase in Grow revenue, can you provide more detail on the mix between new customer wins versus legacy customer upgrades, and how sustainable you expect this growth to be under increasing competitive pressure?
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With the recent disconnects in legacy services showing an over 8% improvement in terms of absolute dollar disconnects, what is the timeline for additional disconnections, and how might these impact margins as more legacy products are phased out?
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You mentioned that CapEx was $791 million with volatile quarter-by-quarter timing; can you break down the cadence of future CapEx spends and how they align with your planned network expansions and PCF initiatives?
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As your digital platform begins disrupting traditional revenue streams, what steps are you taking to ensure that margin expansion is maintained, especially given the potential for cannibalization of revenue between the Nurture and Harvest categories versus digital services?
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Regarding the $3.5 billion PCF pipeline, can you clarify the expected conversion timeline and the mix between hyperscaler versus enterprise deals, considering the complexity in designing new routes for the network?
Research analysts who have asked questions during Lumen Technologies earnings calls.
Batya Levi
UBS
4 questions for LUMN
Frank Louthan
Raymond James
4 questions for LUMN
Michael Rollins
Citigroup
4 questions for LUMN
Gregory Williams
TD Cowen
3 questions for LUMN
James Schneider
Goldman Sachs
3 questions for LUMN
Jonathan Chaplin
New Street Research
3 questions for LUMN
Nicholas Del Deo
MoffettNathanson
3 questions for LUMN
Sebastiano Petti
JPMorgan Chase & Co.
3 questions for LUMN
David Barden
Bank of America
2 questions for LUMN
Eric Luebchow
Wells Fargo
2 questions for LUMN
Greg Williams
TD Cowen
1 question for LUMN
Nick Del Deo
MoffettNathanson LLC
1 question for LUMN
Samuel McHugh
BNP Paribas
1 question for LUMN
Recent press releases and 8-K filings for LUMN.
- Lumen Technologies reported strong financial results for Q3 2025, with revenue, EBITDA, and free cash flow all coming in ahead of street consensus. The company reiterated its 2025 adjusted EBITDA guidance near the high end of the $3.2 billion-$3.4 billion range and full-year free cash flow guidance of $1.2 billion-$1.4 billion.
- The company made significant progress in strengthening its balance sheet, including an additional $2.4 billion debt refinancing and repricing of its term loan, reducing annual interest expense by approximately $135 million in Q3 and $235 million year-to-date. The anticipated $5.75 billion sale of its fiber-to-the-home business to AT&T, expected to close in early 2026, will allow for the paydown of approximately $4.8 billion in super priority debt, further increasing annual interest expense savings by up to $535 million.
- Lumen is pivoting towards revenue growth through strategic initiatives, signing an additional $1+ billion in Private Connectivity Fabric (PCF) deals, bringing the total PCF deal value to over $10 billion. These deals are expected to yield a recurring revenue stream of $400 million-$500 million by the end of 2028.
- The company is also seeing strong adoption of its Network-as-a-Service (NaaS) platform, with active customers growing 32%, fabric ports deployed growing 30%, and services sold growing 36% since last quarter. Lumen expects its digital capabilities, including NaaS and ecosystem partnerships, to generate $500 million-$600 million of incremental revenue run rate exiting 2028, leading to a return to business revenue growth in 2028.
- Lumen Technologies exceeded Q3 2025 expectations for revenue, adjusted EBITDA, and free cash flow. The company reported Total Revenue of $3,087 million, with Grow products revenue increasing by 10.5% year-over-year to $862 million.
- The company successfully executed $2.4 billion in debt refinancing and term loan repricing, which extends maturities and reduces cash interest. Pro forma adjustments show $0 in debt maturities for both 2025 and 2026.
- Lumen's Network-as-a-Service (NaaS) adoption remains strong, with NaaS Customers adoption rate increasing by 32% quarter-over-quarter. The company also expanded its Internet on Demand service to over 10 million new US business locations through partnerships.
- Strategic investments are focused on building the backbone for AI, with Total Intercity Fiber Miles planned to increase from 12 million in 2022 to 47 million by 2028.
- Lumen reported Q3 2025 revenue of $3.087 billion, a 4.2% decline, with adjusted EBITDA of $787 million and free cash flow of $1.7 billion.
- The company is progressing on its transformation, including $2.4 billion in debt refinancing , $250 million in run-rate cost takeout through Q3 , and the consumer fiber-to-the-home sale to AT&T targeted to close in early 2026.
- Strategic initiatives are showing growth, with an additional $1+ billion in Private Connectivity Fabric (PCF) deals, bringing the total PCF deal value to over $10 billion , and North America enterprise "grow" revenue now representing 50% of the segment.
- Lumen expects 2025 adjusted EBITDA near the high end of its $3.2 to $3.4 billion guidance range, and full-year free cash flow of $1.2 to $1.4 billion. The company anticipates EBITDA stability over the next few quarters and an inflection to growth in 2026.
- Lumen Technologies reported Q3 2025 total revenue of $3.087 billion, a 4.2% decline, with adjusted EBITDA of $787 million and free cash flow of $1.7 billion.
- The company anticipates $900 million to $1.1 billion of incremental revenue exiting 2028 from its Lumen Digital and Private Cloud Fiber (PCF) initiatives.
- In Q3 2025, Lumen significantly improved its balance sheet through debt refinancings and reductions, leading to approximately $135 million in annual interest expense savings for the quarter and $235 million year-to-date.
- Strategic initiatives include the October 20th launch of IoD Offnet, which expands the US addressable market by nearly 100x, and a new partnership with Palantir.
- Lumen reiterated its 2025 adjusted EBITDA guidance to be near the high end of the $3.2 billion-$3.4 billion range.
- Lumen Technologies reported strong third-quarter 2025 financial results, with Total Revenue of $3.087 billion, Adjusted EBITDA (excluding Special Items) of $787 million, and Free Cash Flow (excluding cash Special Items) of $1.661 billion, exceeding expectations. The company recorded a net loss of $(621) million and a diluted loss per share of $(0.62) for the quarter.
- The company completed a $2.4 billion debt refinancing and term loan repricing, which is expected to save $135 million in annual interest expense year to date. As of September 30, 2025, Lumen held $2.401 billion in cash and cash equivalents, with total debt at $18.0 billion.
- Strategic progress includes a successful Phase I ERP implementation and the pending sale of its consumer Fiber-to-the-Home (FTTH) business to AT&T, anticipated to close in early 2026. Lumen also secured $1 billion in new Private Connectivity Fabric deals, bringing the total value to over $10 billion.
- Lumen reiterated its full-year 2025 financial outlook, forecasting Adjusted EBITDA between $3.2 billion and $3.4 billion and Free Cash Flow between $1.2 billion and $1.4 billion. Capital expenditures are projected to be between $4.1 billion and $4.3 billion.
- Lumen Technologies reported total revenue of $3.087 billion for the third quarter of 2025, a net loss of $(621) million, and Adjusted EBITDA (excluding Special Items) of $787 million. This compares to total revenue of $3.221 billion, a net loss of $(148) million, and Adjusted EBITDA (excluding Special Items) of $899 million for the third quarter of 2024.
- The company generated Free Cash Flow (excluding cash paid for Special Items) of $1.661 billion in the third quarter of 2025, an increase from $1.198 billion in the third quarter of 2024.
- Key operational achievements include $2.4 billion in debt refinancing which is expected to save $135 million in annual interest expense year to date, progress on the consumer FTTH sale to AT&T targeted for early 2026, and $1 billion in new Private Connectivity Fabric (PCF) deals in October, bringing the total PCF deal value to over $10 billion.
- Lumen Technologies reiterated its full-year 2025 financial outlook, projecting Adjusted EBITDA between $3.2 and $3.4 billion (expected near the high end) and Free Cash Flow between $1.2 and $1.4 billion (driven by an anticipated $400 million tax refund).
- Lumen Technologies and QTS Data Centers announced an expanded strategic partnership to support a next-generation network built for AI, cloud, and hyperscaler growth.
- Under the partnership, Lumen will connect its AI-ready infrastructure to 16 new QTS data center campuses across the U.S., integrating them with Lumen's 340,000-route-mile global fiber backbone.
- QTS has selected Lumen to serve in four strategic roles: Premier Fiber Provider, Premier NaaS/SDN Provider, Intelligent Network Fabric Provider, and Backbone Infrastructure.
- This collaboration aims to provide AI-Ready, Low-Latency Infrastructure with a 400G+ cloud and AI on-ramp ecosystem for hyperscalers and technology innovators.
- Lumen Technologies has expanded its Internet On-Demand service to over 10 million new business locations across the U.S., offering quick, self-service connectivity.
- This expansion leverages Lumen's Network-as-a-Service (NaaS) platform and collaborations with other network providers to extend high-performance connectivity beyond Lumen's traditional network footprint.
- The service provides adjustable, pay-as-you-go connectivity that businesses can scale up or down within minutes, addressing the complexity of connecting locations outside a carrier's network.
- Xcel Energy is a key customer already using Lumen's Internet On-Demand to support its growing digital operations and achieve agile, high-speed connectivity.
- Lumen Technologies has unveiled a bold vision for reinventing the internet backbone to support the AI era, termed "Cloud 2.0".
- Lumen's Chief Technology & Product Officer Dave Ward states that current internet architectures are insufficient for AI workloads, which require a 100x increase in east-west traffic and sub-5 ms latency, necessitating a "complete reboot" of the internet's core.
- This Cloud 2.0 transformation, characterized by programmable networks and decentralized architectures, is projected to largely unfold by 2028 and informs Lumen's strategic investments in its physical network, digital platforms, and connected ecosystem.
- Lumen Technologies successfully repriced Level 3 Financing, Inc.'s $2.4 billion credit facilities at Term SOFR + 3.25%, representing a 100 basis point reduction that is expected to result in $24 million in annual interest expense savings.
- Level 3 also raised an additional $425 million of its 7.000% First Lien Notes due 2034 to redeem $373 million of its 10.750% First Lien Notes due 2030, which extends maturities by more than three years and reduces annual interest expense by an additional $10 million.
- These capital structure enhancements provide greater financial freedom to accelerate Lumen's investment in digital networking services for the AI economy.