Lumen Technologies, Inc., a facilities-based technology and communications company, provides various integrated services and solutions under CenturyLink name to business and residential customers in the United States and internationally. The company operates through five segments: International and Global Accounts Management, Enterprise, Small and Medium Business, Wholesale, and Consumer. It offers IP and data services, including VPN data network, Ethernet, internet protocol (IP), and content delivery services. The company also offers transport and infrastructure services comprising high bandwidth optical networks; unlit optical fiber networks, and related professional and management services; private line services, a direct circuit or channel specifically dedicated for connecting two or more organizational sites; colocation and data center services; and consulting services, which include network management, installation and maintenance of data equipment, and building of proprietary fiber-optic broadband networks for government and business customers. In addition, the company provides voice and collaboration services, including primary rate interface service, local inbound service, switched one-plus, toll free, long distance, and international services; and voice over internet protocol services. Further, it offers IT and managed service that include network, hosting, public and private cloud, and other IT services, as well as intuitive management tools. Additionally, the company is involved in leasing and subleasing of space. As of December 31, 2020, it served approximately 4.5 million broadband subscribers. The company was formerly knowen as CenturyLink, Inc. and changed its name to Lumen Technologies, Inc. in September 2020. Lumen Technologies, Inc. was incorporated in 1968 and is headquartered in Monroe, Louisiana.
IPO Year:
Exchange: NYSE
Website: lumen.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 8/16/2024 | $1.75 → $4.00 | Equal Weight → Underweight | Wells Fargo |
| 8/7/2024 | $1.00 → $4.00 | Sell → Neutral | Goldman |
| 8/7/2024 | Underweight → Neutral | JP Morgan | |
| 8/6/2024 | $1.25 → $3.15 | Sell → Neutral | Citigroup |
| 7/1/2024 | $1.00 | Sell | Goldman |
| 6/6/2023 | Underperform → Mkt Perform | Raymond James | |
| 2/8/2023 | $6.25 → $3.50 | Neutral → Sell | Citigroup |
| 12/6/2022 | $6.00 | Neutral | Goldman |
| 10/5/2022 | $8.00 | Overweight → Equal Weight | Wells Fargo |
| 8/5/2022 | $10.00 | Underweight | JP Morgan |
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10-Q - Lumen Technologies, Inc. (0000018926) (Filer)
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10-Q - Lumen Technologies, Inc. (0000018926) (Filer)
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10-Q - Lumen Technologies, Inc. (0000018926) (Filer)
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Wells Fargo downgraded Lumen Technologies from Equal Weight to Underweight and set a new price target of $4.00 from $1.75 previously
Goldman upgraded Lumen Technologies from Sell to Neutral and set a new price target of $4.00 from $1.00 previously
JP Morgan upgraded Lumen Technologies from Underweight to Neutral
Citigroup upgraded Lumen Technologies from Sell to Neutral and set a new price target of $3.15 from $1.25 previously
Goldman initiated coverage of Lumen Technologies with a rating of Sell and set a new price target of $1.00
Raymond James upgraded Lumen Technologies from Underperform to Mkt Perform
Citigroup downgraded Lumen Technologies from Neutral to Sell and set a new price target of $3.50 from $6.25 previously
Goldman resumed coverage of Lumen Technologies with a rating of Neutral and set a new price target of $6.00
Wells Fargo downgraded Lumen Technologies from Overweight to Equal Weight and set a new price target of $8.00
JP Morgan resumed coverage of Lumen Technologies with a rating of Underweight and set a new price target of $10.00
Microsoft Corporation (NASDAQ:MSFT) is partnering with Lumen Technologies, Inc. (NYSE:LUMN) to leverage Microsoft Cloud for Lumen’s digital transformation. What Happened: The Redmond, Washington-based tech giant selected Lumen to enhance network capacity and support increased demand at its AI-driven datacenters. Lumen’s Private Connectivity Fabric provides dedicated fiber access and advanced digital services, enhancing connectivity and capacity for Microsoft’s datacenters to meet growing data demands. Lumen is transforming its operations by adopting Microsoft’s cloud and AI technologies to cut costs, eliminate legacy systems, enhance offerings, and develop new solutions. See Also
Goldman Sachs analyst James Schneider, Ph. D., initiated coverage on the U.S. Telecom Services and infrastructure sector (14 companies) and is most constructive on wireless carriers and data centers. Schneider noted that the U.S. telecom industry is in a state of transformation. The U.S. telecom operators have refocused on their core business after emerging from a period as conglomerates marked by shareholder capital destruction. For the first time in a decade, the U.S. wireless operators are entering a period where both competitive and capital intensity are moderating simultaneously. He said this backdrop drove healthier growth and margin dynamics, with the potential for significan
Goldman Sachs analyst James Schneider initiates coverage on Lumen Technologies (NYSE:LUMN) with a Sell rating and announces Price Target of $1.
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Lumen Technologies (NYSE:LUMN) reported quarterly Adj losses of $(0.04) per share which missed the analyst consensus estimate of $0.00. This is a 140 percent decrease over earnings of $0.10 per share from the same period last year. The company reported quarterly sales of $3.290 billion which missed the analyst consensus estimate of $3.367 billion by 2.28 percent. This is a 11.99 percent decrease over sales of $3.738 billion the same period last year.
Lumen Technologies's (NYSE:LUMN) short percent of float has risen 16.76% since its last report. The company recently reported that it has 143.98 million shares sold short, which is 19.65% of all regular shares that are available for trading. Based on its trading volume, it would take traders 11.53 days to cover their short positions on average. Why Short Interest Matters Short interest is the number of shares that have been sold short but have not yet been covered or closed out. Short selling is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises. Short
These initiatives are expected to be substantially completed by the end of the second quarter of 2024. As a result of this plan, the Company expects to incur severance and related costs in the range of approximately $90 to $100 million, substantially all of which it expects to record in the second quarter of 2024. Other than these costs, the Company does not expect to incur any material impairment or exit costs related to this plan.
Company's network strength will help transform the investigative arm of Congress
DENVER, Oct. 29, 2024 /PRNewswire/ -- Lumen Technologies (NYSE:LUMN) today announced the appointment of Chris Capossela to its board of directors, effective immediately. Capossela is a recognized authority in the technology industry and spent over 30 years of his career at Microsoft in a variety of roles. For the last ten years, he served as Microsoft's executive vice president and chief marketing officer. In that role, he led worldwide marketing across both the consumer and commercial businesses, overseeing everything from product marketing and business planning to digital d
Ho to Succeed Veteran Executive Stacey Goff DENVER, May 6, 2024 /PRNewswire/ -- Lumen Technologies (NYSE:LUMN) today announced it has appointed Chad Ho as executive vice president and chief legal officer. His appointment will begin in June. He succeeds Stacey Goff, whose legacy includes a distinguished 26-year career with Lumen and its predecessors. We anticipate that Mr. Goff will remain with the company for a few weeks after Mr. Ho's appointment to ensure a smooth transition. Ho is an experienced chief legal officer with a unique track record of success. He has extensive e
Visionary executive Diankha Linear brings market disruption expertise to the Board DENVER, Feb. 22, 2024 /PRNewswire/ -- Lumen Technologies (NYSE: LUMN) today announced the appointment of Diankha Linear to its board of directors, effective immediately. Linear is a seasoned executive and proven operator with more than 20 years of experience leading across highly regulated technology, logistics, and retail industries. In her current role as president and CEO of Community, Inc., she is disrupting how brands interact with their customers with an engagement platform that connects
Satish Lakshmanan brings extensive cloud and networking expertise to lead Lumen's transformation and growth in 2024 DENVER, Dec. 18, 2023 /PRNewswire/ -- Lumen Technologies (NYSE:LUMN) has named Dr. Satish Lakshmanan as its new Chief Product Officer. Dr. Lakshmanan will lead Lumen's corporate strategy and product portfolio, continuing to innovate network and advanced services to help customers thrive in today's digital economy. He will report to Lumen CEO Kate Johnson. "We are thrilled to welcome Satish to Lumen," said Johnson. "He is a visionary leader with a deep understand
Investors can contact the law firm at no cost to learn more about recovering their losses LOS ANGELES, Oct. 12, 2023 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises Lumen Technologies, Inc. ("Lumen" or the "Company") f/k/a CenturyLink, Inc. ("CenturyLink") (NYSE:LUMN) investors that a lawsuit filed on behalf of investors that purchased Lumen securities between March 11, 2019 and July 14, 2023, inclusive (the "Class Period") Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 844-767-8529 or email: [email protected], to discuss their legal rights, or click here to join the case via www.portnoylaw.com. The Portnoy Law Firm can provide a complimentary case evaluat
Investors can contact the law firm at no cost to learn more about recovering their losses LOS ANGELES, Oct. 03, 2023 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises Lumen Technologies, Inc. ("Lumen" or the "Company") f/k/a CenturyLink, Inc. ("CenturyLink") (NYSE:LUMN) investors that a lawsuit filed on behalf of investors that purchased Lumen securities between March 11, 2019 and July 14, 2023, inclusive (the "Class Period") Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 844-767-8529 or email: [email protected], to discuss their legal rights, or click here to join the case via www.portnoylaw.com. The Portnoy Law Firm can provide a complimentary case
Nationwide executive James 'Jim' Fowler brings digital transformation expertise to the Board DENVER, Aug. 7, 2023 /PRNewswire/ -- Lumen Technologies (NYSE:LUMN) today announced the appointment of James 'Jim' Fowler to its board of directors, effective immediately. Jim is an advocate for innovation and digital transformation with more than 25 years of experience in technology leadership roles for Fortune 100 companies. Currently, he is the Executive Vice President and Chief Technology Officer of Nationwide Insurance, chartered with modernizing core technology capabilities, digi
Kate Johnson Appointed President and CEO, Joins Board of Directors; Jeff Storey to Retire DENVER, Sept. 13, 2022 /PRNewswire/ -- Lumen Technologies (NYSE:LUMN) today announced Kate Johnson has been appointed President, Chief Executive Officer and a member of the company's Board of Directors with the transition date expected to be November 7, 2022. Johnson succeeds Jeff Storey, who has announced his retirement after a distinguished 40-year career within the telecommunication and technology industries, including Lumen and its predecessors. Storey will remain with the company through December 31, 2022, to ensure a smooth transition.
Senior Executive Brings Decades of Corporate Communications and Strategy Experience as Company Executes on Planned $2 Billion Fiber Optics Transformation CHARLOTTE, N.C., Aug. 1, 2022 /PRNewswire/ -- Brightspeed today announced the expansion of its executive leadership team with the appointment of Amy Wulfestieg as Chief Communications Officer, effective immediately. Reporting to Chief Executive Officer Bob Mudge, Ms. Wulfestieg is responsible for leading the strategy, planning, and implementation of internal and external communications, change management, and engagement activities for the company. Ms. Wulfestieg has an extensive record of achievement in building and sustaining a culture tha
DENVER, March 28, 2022 /PRNewswire/ -- Lumen Technologies (NYSE:LUMN) today announced that Chris Stansbury has been appointed Chief Financial Officer, effective April 4, 2022, succeeding Neel Dev. Stansbury most recently served as senior vice president and CFO of Arrow Electronics, Inc., one of the world's largest providers of technology products, services and solutions. In his role at Arrow, Stansbury was responsible for leading the company's global finance organization and served as a member of the company's executive committee. Stansbury joined Arrow in 2014 as vice preside
Results are set forth below for (i) Lumen's tender offers for its unsecured senior notes maturing in 2025, 2026 and 2027 and (ii) Level 3's tender offers for its unsecured senior notes maturing in 2027Amended terms are set forth below for (i) Lumen's tender offer for its unsecured senior notes maturing in 2028 and (ii) Level 3's tender offer for its unsecured senior notes maturing in 2028DENVER, Nov. 19, 2024 /PRNewswire/ -- Lumen Technologies, Inc. (NYSE:LUMN) (the "Company" or "Lumen") announced today (1) the expiration and results of certain of the previously-announced cash tender offers (each, an "Expired Offer" and collectively, the "Expired Offers") of it and its indirect, wholly-owned
Qurate Retail, Inc. ("Qurate Retail") (NASDAQ:QRTEA, QRTEB, QRTEP)) today announced the payment of a semi-annual interest payment and Regular Additional Distribution to the holders as of November 1, 2024 of the 4.0% Senior Exchangeable Debentures due 2029 (the "Debentures") issued by its wholly-owned subsidiary, Liberty Interactive LLC ("LI LLC").The semi-annual interest payment amount is $20.00 per $1,000 original principal amount of Debentures (a "Debenture"), and the amount of the Regular Additional Distribution is $0.4302 per $1,000 original principal amount of Debentures. Under the Indenture for the Debentures, the original principal amount of the Debentures is reduced by an amount e
DENVER, Nov. 13, 2024 /PRNewswire/ -- Lumen Technologies (NYSE:LUMN) ("Lumen"), a global integrated network solutions provider that unleashes the world's digital potential, today announced that Chris Stansbury, Lumen's executive vice president and chief financial officer will present at the BofA 2024 Leveraged Finance Conference on December 3, 2024. The presentation is scheduled to begin at 10:10 a.m. ET. A live webcast link to the investor presentation will be made available on the Lumen Investor Relations website at https://ir.lumen.com/events-and-presentations. About Lumen
DENVER, Nov. 12, 2024 /PRNewswire/ -- Lumen Technologies, Inc. (NYSE: LUMN) (the "Company" or "Lumen") and its indirect, wholly-owned subsidiary Level 3 Financing, Inc. ("Level 3") have commenced cash tender offers (each, an "Offer" and collectively, the "Offers") to purchase any and all of their respective outstanding notes identified in the table below (collectively, the "Notes"). The Offers are being made by Lumen and Level 3 (each, an "Offeror" and, collectively, the "Offerors") on the terms and subject to the conditions set forth in an Offer to Purchase, including the rel
DENVER, Nov. 5, 2024 /PRNewswire/ -- Lumen Technologies, Inc. (NYSE:LUMN) reported results for the third quarter ended September 30, 2024. Big Tech is Choosing Lumen to Build the Backbone for the AI Economy Continued operational progress and sales momentum across our growth portfolio. Record quarter for net subscription adds in Quantum Fiber business.Delivered new Lumen Private Connectivity Fabric (or PCF) sales since our last earnings report, which provides additional liquidity and flexibility to continue reducing our overall debt profile.Growing adoption of Lumen Digital's u
Google Cloud underpins Lumen® Digital Twin technology, providing proactive insights across the Lumen networkGoogle Cloud's Vertex AI platform enables new AI-powered applications to assist Lumen technicians and customer support teamsLumen Private Connectivity Fabric℠ will expand Google's network to support demand growth for Google Cloud's products and AI innovations DENVER, Nov. 5, 2024 /PRNewswire/ -- Lumen Technologies (NYSE:LUMN) announced a partnership with Google Cloud that is accelerating Lumen's digital transformation and driving innovation for billions of Google customers.
Lumen's next-generation fiber network will support AWS infrastructure across the U.S. amid expansion of AI-driven services AWS generative AI technologies will transform and streamline Lumen's operations, paving the way for autonomous and dynamic networking capabilities DENVER and SEATTLE, Oct. 30, 2024 /PRNewswire/ -- Lumen Technologies (NYSE:LUMN) and Amazon Web Services (AWS), an Amazon.com company (NASDAQ:AMZN), announced an agreement to strengthen data center connectivity and optimize network delivery of cloud technologies for hundreds of millions of customers across the United States. Lumen will use AWS technologies, including artificial intelligence (AI), machine learning (ML), and s
DENVER, Oct. 29, 2024 /PRNewswire/ -- Lumen Technologies (NYSE:LUMN) today announced the appointment of Chris Capossela to its board of directors, effective immediately. Capossela is a recognized authority in the technology industry and spent over 30 years of his career at Microsoft in a variety of roles. For the last ten years, he served as Microsoft's executive vice president and chief marketing officer. In that role, he led worldwide marketing across both the consumer and commercial businesses, overseeing everything from product marketing and business planning to digital d
Lumen's Private Connectivity Fabric℠ enables long-term network capacity for Meta's AI DENVER, Oct. 21, 2024 /PRNewswire/ -- Lumen Technologies (NYSE: LUMN) and Meta are partnering to significantly increase Meta's network capacity and help drive its bold AI ambitions. The expanded network will provide dedicated interconnection for Meta's industry-leading infrastructure, strengthening and increasing the company's ability to lead in AI development. This increase in capability is another differentiator that will fuel Meta's vision to advance AI for a more connected world. "We're
DENVER, Oct. 7, 2024 /PRNewswire/ -- Lumen Technologies (NYSE:LUMN), a global integrated network solutions provider that unleashes the world's digital potential, will release its third quarter 2024 results on Nov. 5, 2024. The company will broadcast a live conference call on its Investor Relations website at http://ir.lumen.com at 5 p.m. ET. Additional information regarding the third quarter 2024 results, including the company's earnings release, investor presentation, and related materials will be available on Lumen's Investor Relations website. About Lumen Technologies Lumen
Qurate Retail, Inc. ("Qurate Retail") (NASDAQ:QRTEA, QRTEB, QRTEP)) today announced the payment of a semi-annual interest payment and Regular Additional Distribution to the holders as of November 1, 2024 of the 4.0% Senior Exchangeable Debentures due 2029 (the "Debentures") issued by its wholly-owned subsidiary, Liberty Interactive LLC ("LI LLC").The semi-annual interest payment amount is $20.00 per $1,000 original principal amount of Debentures (a "Debenture"), and the amount of the Regular Additional Distribution is $0.4302 per $1,000 original principal amount of Debentures. Under the Indenture for the Debentures, the original principal amount of the Debentures is reduced by an amount e
DENVER, Nov. 5, 2024 /PRNewswire/ -- Lumen Technologies, Inc. (NYSE:LUMN) reported results for the third quarter ended September 30, 2024. Big Tech is Choosing Lumen to Build the Backbone for the AI Economy Continued operational progress and sales momentum across our growth portfolio. Record quarter for net subscription adds in Quantum Fiber business.Delivered new Lumen Private Connectivity Fabric (or PCF) sales since our last earnings report, which provides additional liquidity and flexibility to continue reducing our overall debt profile.Growing adoption of Lumen Digital's u
DENVER, Oct. 7, 2024 /PRNewswire/ -- Lumen Technologies (NYSE:LUMN), a global integrated network solutions provider that unleashes the world's digital potential, will release its third quarter 2024 results on Nov. 5, 2024. The company will broadcast a live conference call on its Investor Relations website at http://ir.lumen.com at 5 p.m. ET. Additional information regarding the third quarter 2024 results, including the company's earnings release, investor presentation, and related materials will be available on Lumen's Investor Relations website. About Lumen Technologies Lumen
Qurate Retail, Inc. ("Qurate Retail") (NASDAQ:QRTEA, QRTEB, QRTEP))) today announced the payment of a semi-annual interest payment and Regular Additional Distribution to the holders as of August 1, 2024 of the 3.75% Senior Exchangeable Debentures due 2030 (the "Debentures") issued by its wholly-owned subsidiary, Liberty Interactive LLC ("LI LLC"). The semi-annual interest payment amount is $18.75 per $1,000 original principal amount of Debentures, and the amount of the Regular Additional Distribution is $0.3145 per $1,000 original principal amount of Debentures. Under the Indenture for the Debentures, the original principal amount of the Debentures is adjusted in an amount equal to each E
DENVER, Aug. 6, 2024 /PRNewswire/ -- Lumen Technologies (NYSE:LUMN) reported results for the second quarter ended June 30, 2024. Driving Commercial Excellence, Stabilizing the Base, and Innovating for Growth Continued success in North American Large and Mid-Market Enterprise sales. Large and Mid-Market new logo sales increased and net total contract value for all channels was up year over year.Delivered improved customer satisfaction across customer channels, which should manifest in lower churn, higher gross sales, and improved overall revenue growth over time.Recently announ
Agreement reserves 10% of Corning's global fiber capacity for each of the next two years to interconnect AI-enabled data centers Agreement will more than double Lumen's intercity network miles to unlock the next phases and capabilities of AI for cloud data centers, enterprises, and public agencies Lumen Technologies (NYSE:LUMN) today announced an agreement with Corning Incorporated (NYSE:GLW) for a substantial supply of next-generation optical cable. This fiber-dense cable will more than double Lumen's U.S. intercity fiber miles, offering significant capacity to major cloud data centers racing to stay ahead of AI workloads and high bandwidth applications fueled by massive amounts of dat
DENVER, July 9, 2024 /PRNewswire/ -- Lumen Technologies (NYSE:LUMN), a global integrated network solutions provider that unleashes the world's digital potential, will release its second quarter 2024 results on August 6, 2024. The company will broadcast a live conference call on its Investor Relations website at http://ir.lumen.com at 5 p.m. ET. Additional information regarding the second quarter 2024 results, including the company's earnings release, investor presentation, and related materials will be available on Lumen's Investor Relations website. About Lumen Technologies L
Qurate Retail, Inc. ("Qurate Retail") (NASDAQ:QRTEA, QRTEB, QRTEP))) today announced the payment of a semi-annual interest payment and Regular Additional Distribution to the holders as of May 1, 2024 of the 4.0% Senior Exchangeable Debentures due 2029 (the "Debentures") issued by its wholly-owned subsidiary, Liberty Interactive LLC ("LI LLC"). The semi-annual interest payment amount is $20.00 per $1,000 original principal amount of Debentures (a "Debenture"), and the amount of the Regular Additional Distribution is $0.4302 per $1,000 original principal amount of Debentures. Under the Indenture for the Debentures, the original principal amount of the Debentures is reduced by an amount equa
First Quarter 2024 Highlights Successfully completed our TSA transactions with a broad group of our creditors, significantly strengthening our balance sheet and addressing over $15 billion of our debt and commitmentsExtended over $10 billion of our maturities due over the next four years to 2029 and beyondSecured access to over $2.3 billion in new liquidity to fuel our pivot to growthReported Net Income of $57 million for the first quarter 2024, compared to reported Net Income of $511 million for the first quarter 2023Reported diluted earnings per share of $0.06 for the first quarter 2024, compared to diluted earnings per share of $0.52 for the first quarter 2023. Excluding Special Items, di
DENVER, Apr. 2, 2024 /PRNewswire/ -- Lumen Technologies (NYSE:LUMN), a global integrated network solutions provider that unleashes the world's digital potential, will release its first quarter 2024 results on Apr. 30, 2024. The company will broadcast a live conference call on its Investor Relations website at http://ir.lumen.com at 5 p.m. ET. Additional information regarding the first quarter 2024 results, including the company's earnings release, investor presentation, and related materials will be available on Lumen's Investor Relations website. About Lumen Technologies Lume