Earnings summaries and quarterly performance for Lumen Technologies.
Executive leadership at Lumen Technologies.
Board of directors at Lumen Technologies.
CC
Christopher Capossela
Detailed
Director
DL
Diankha Linear
Detailed
Director
HS
Hal Stanley Jones
Detailed
Director
JF
James Fowler
Detailed
Director
KP
Kevin P. Chilton
Detailed
Director
MH
Martha Helena Béjar
Detailed
Director
MJ
Michelle J. Goldberg
Detailed
Director
QA
Quincy Allen
Detailed
Director
SM
Stephen McMillan
Detailed
Director
TM
T. Michael Glenn
Detailed
Chairman of the Board
Research analysts who have asked questions during Lumen Technologies earnings calls.
BL
Batya Levi
UBS
4 questions for LUMN
Also covers: AMT, BCE, CCI +6 more
FL
Frank Louthan
Raymond James
4 questions for LUMN
Also covers: AKAM, ATUS, CABO +12 more
GW
Gregory Williams
TD Cowen
4 questions for LUMN
Also covers: CABO, CCOI, FYBR +3 more
MR
Michael Rollins
Citigroup
4 questions for LUMN
Also covers: AMT, ATUS, CCI +16 more
JS
James Schneider
Goldman Sachs
3 questions for LUMN
Also covers: ACN, AMAT, AMKR +26 more
JC
Jonathan Chaplin
New Street Research
3 questions for LUMN
Also covers: ATEX, ATUS, CCI +6 more
Nicholas Del Deo
MoffettNathanson
3 questions for LUMN
Also covers: AMT, CCI, CCOI +4 more
SP
Sebastiano Petti
JPMorgan Chase & Co.
3 questions for LUMN
Also covers: ATUS, BCE, CABO +14 more
DB
David Barden
Bank of America
2 questions for LUMN
Also covers: AMT, BCE, CCI +10 more
Eric Luebchow
Wells Fargo
2 questions for LUMN
Also covers: AMT, CUBE, DBRG +9 more
Nick Del Deo
MoffettNathanson LLC
1 question for LUMN
Also covers: AMT, CCI, CCOI +4 more
Samuel McHugh
BNP Paribas
1 question for LUMN
Also covers: ATUS, CABO, FYBR +3 more
Recent press releases and 8-K filings for LUMN.
Lumen Technologies' Subsidiary Completes Debt Offering and Tender Offers
LUMN
Debt Issuance
- Level 3 Financing, Inc., an indirect wholly-owned subsidiary of Lumen Technologies, Inc., completed an upsized offering of $1.25 billion aggregate principal amount of its 8.500% Senior Notes due 2036 on December 23, 2025.
- The net proceeds from this offering, along with cash on hand, were utilized to purchase Existing Second Lien Notes through Tender Offers and to cover related fees and expenses.
- In conjunction with the Tender Offers, Level 3 Financing, Inc. solicited and obtained "Requisite Consents" from holders of its 3.875% Second Lien Notes due 2030, 4.500% Second Lien Notes due 2030, and 4.000% Second Lien Notes due 2031 to amend their respective indentures.
- These amendments, formalized via Second Supplemental Indentures dated December 23, 2025, are designed to eliminate substantially all restrictive covenants and certain events of default, and to release the collateral securing the obligations of the Existing Second Lien Notes.
Dec 23, 2025, 9:05 PM
Lumen Technologies Announces Early Results and Amendments to Tender Offers
LUMN
Debt Issuance
- Lumen Technologies, Inc. announced the early results and amendments to its cash tender offers for four series of Existing Second Lien Notes by its subsidiary, Level 3 Financing, Inc..
- A significant amendment is the elimination of the Former Aggregate Maximum Tender Cap, which was previously $1.5 billion, meaning all validly tendered notes (with specific conditions for the 2029 Notes) will be accepted for payment.
- As of the Early Tender Deadline on December 19, 2025, approximately $2.124 billion aggregate principal amount of Existing Second Lien Notes were validly tendered, with $1.5 billion accepted for purchase.
- The tender offer for the 4.875% Second Lien Notes due 2029 is now conditional on Level 3 Financing receiving at least $1.75 billion in gross proceeds from new debt financing.
- Requisite consents were obtained for all series of notes to amend indentures, eliminating substantially all restrictive covenants and certain events of default, and releasing collateral.
Dec 22, 2025, 1:41 PM
Lumen Technologies Amends Tender Offers and Announces Early Results
LUMN
Debt Issuance
- Lumen Technologies' subsidiary, Level 3 Financing, Inc., amended its cash tender offers for its Second Lien Notes, removing the aggregate maximum tender cap for all Existing Second Lien Notes.
- As of the December 19, 2025 Early Tender Deadline, approximately $2.124 billion in aggregate principal amount of Existing Second Lien Notes were tendered, with $1.5 billion accepted for purchase.
- The Withdrawal Deadline for the 4.875% Second Lien Notes due 2029 was extended to January 7, 2026, and their purchase is conditioned on Level 3 Financing securing at least $1.75 billion in new debt financing.
- The Early Settlement Date for certain accepted notes is expected on December 23, 2025, and the overall tender offers will expire on January 7, 2026, with a Final Settlement Date expected on January 9, 2026.
Dec 22, 2025, 1:30 PM
Lumen Technologies' Subsidiary Announces Upsized Senior Notes Offering and Concurrent Tender Offers
LUMN
Debt Issuance
- Lumen Technologies, Inc.'s subsidiary, Level 3 Financing, Inc., announced an offering of $1.25 billion aggregate principal amount of its 8.500% Senior Notes due 2036, which represents a $500 million increase from the previously announced size.
- The net proceeds from this offering, along with cash on hand or other available liquidity, are intended to purchase Existing Second Lien Notes through concurrent cash tender offers.
- The aggregate purchase price for the Existing Second Lien Notes in the tender offers has been increased to $1.5 billion from the previously announced $1.0 billion.
- The tender offers and consent solicitations will expire on January 7, 2026, with an early tender deadline of December 19, 2025. The offering of the new Notes is expected to be completed on December 23, 2025.
Dec 9, 2025, 12:43 AM
Lumen Technologies' Subsidiary Prices Senior Notes and Upsizes Debt Tender Offers
LUMN
Debt Issuance
- Level 3 Financing, Inc., a wholly-owned subsidiary of Lumen Technologies, priced $1.25 billion aggregate principal amount of its 8.500% Senior Notes due 2036, representing a $500 million increase from the previously announced offering size.
- The Notes were priced at 100.000% of their principal amount and are expected to mature on January 15, 2036, with the offering anticipated to close on December 23, 2025.
- Level 3 Financing intends to use the net proceeds to purchase its Existing Second Lien Notes through cash tender offers, with the aggregate purchase price for these tender offers increased to $1.5 billion from the previously announced $1.0 billion.
Dec 8, 2025, 10:52 PM
Lumen Technologies Announces Debt Refinancing and Tender Offers
LUMN
Debt Issuance
Demand Weakening
- Lumen Technologies, through its subsidiary Level 3 Financing, is offering $750 million of 8.5% senior notes due 2036 to refinance existing debt.
- Concurrently, Level 3 Financing is conducting cash tender offers to repurchase up to $1 billion of outstanding second lien notes, with an early tender deadline of December 19, 2025, to improve its credit profile.
- This refinancing strategy aims to provide increased financial flexibility by amending indentures to remove restrictive covenants and release collateral from the repurchased notes.
- Lumen is continuing its strategic shift towards enterprise services, which now account for approximately 75% of its revenue, despite facing financial challenges such as a -10.4% 3-year revenue growth rate and a gross margin of around 47%.
Dec 8, 2025, 12:25 PM
Lumen CFO Discusses Transformation and Growth Strategy
LUMN
Revenue Acceleration/Inflection
Debt Issuance
New Projects/Investments
- Lumen anticipates achieving revenue growth in its business segment by the end of 2028, driven by $10 billion in PCF deals and $500 million-$600 million in digital revenue, with current revenue decline rates at roughly half the industry average.
- The company is uniquely investing in Network-as-a-Service (NaaS) infrastructure, which provides scalable, self-provisioned digital services to enterprise customers and is growing at 30% quarter on quarter. This network ecosystem is positioned to support AI and multi-cloud, with investments largely prepaid by customers.
- Following the sale of its fiber-to-the-home business, Lumen expects to reduce its super priority debt by $4.8 billion, lowering total debt from over $18 billion to just over $13 billion and cutting annual interest expense from $1.4 billion to $700 million. The company aims for a leverage level in the low threes.
- Lumen is implementing a cost transformation initiative targeting $1 billion in exit run rate savings by the end of 2027, achieved through IT modernization and the use of AI tools to enhance operational efficiencies.
Nov 19, 2025, 7:00 PM
Lumen Technologies Outlines Path to Revenue Growth and Debt Reduction
LUMN
Revenue Acceleration/Inflection
New Projects/Investments
Guidance Update
- Lumen Technologies (LUMN) anticipates achieving revenue growth by 2028 or 2029, driven by $10 billion in PCF deals and $500 million-$600 million in digital revenue. The company's Network-as-a-Service (NaaS) offerings are currently growing at 30% quarter-on-quarter.
- The sale of Quantum Fiber to AT&T is expected to reduce Lumen's total debt from over $18 billion to just over $13 billion by eliminating $4.8 billion of super priority debt, and cutting annual interest expense from $1.4 billion to $700 million.
- Lumen's CapEx spend (excluding fiber to the home) is approximately $3 billion, with $1 billion paid upfront by customers, leaving $2 billion financed by the company. A significant portion of this, $400 million-$500 million annually, is allocated to maintenance, with additional investment in metro expansions and rapid routes.
- The company is undergoing a cost transformation, targeting $1 billion of exit run rate savings by the end of 2027, primarily through IT modernization, tech debt reduction, and the application of AI tools.
Nov 19, 2025, 7:00 PM
Lumen CFO Discusses Path to Revenue Growth, Debt Reduction, and AI Strategy
LUMN
Revenue Acceleration/Inflection
New Projects/Investments
Share Buyback
- Lumen's CFO, Chris Stansbury, detailed a strategy to achieve revenue growth by 2028 or 2029, driven by growing segments that already constitute half of current revenue, and contributions from $10 billion in PCF deals and $500 million-$600 million in digital revenue. The company's Network-as-a-Service (NaaS) offerings are experiencing 30% quarter-on-quarter growth.
- The company leverages its unique network infrastructure as a competitive advantage, essential for supporting AI and multi-cloud environments, which significantly reduces the "time to first token" for AI data processing. Lumen is uniquely positioned as the only provider broadly investing in this scalable NaaS infrastructure.
- The upcoming sale of Quantum Fiber to AT&T is expected to reduce total debt from over $18 billion to just over $13 billion, cutting annual interest expense from $1.4 billion to $700 million. Additionally, Lumen targets $1 billion in exit run rate cost savings by the end of 2027 through IT modernization and AI tools.
- Lumen aims to further lower its leverage to the low threes and, following strategic investments and debt reduction, intends to consider share repurchases given the perceived undervaluation of its stock.
Nov 19, 2025, 7:00 PM
Lumen Technologies Reports Strong Q3 2025 Results, Advances Debt Reduction and Growth Initiatives
LUMN
Earnings
Guidance Update
M&A
- 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.
Oct 30, 2025, 9:00 PM
Quarterly earnings call transcripts for Lumen Technologies.
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