#LUMEN TECHNOLOGY STOCK FREE#
The company reiterated full-year guidance for adjusted EBITDA of $6.9B-$7.1B and free cash flow of $2B-$2.2B. 1, Lumen received about $2.7B in cash for selling its Latin American business to Stonepeak, and today it repaid about $700M of its term loan indebtedness. At quarter-end, Lumen had cash and equivalents of $360M subsequently, on Aug. Free cash flow fell to $668M from a year-ago $1.044B. Net cash from operations dipped to $1.396B from $1.639B. Revenue breakout: International and Global Accounts, $996M (down 1.5%) Large Enterprise, $884M (-6.5%) Mid-Market Enterprise, $626M (down 5.3%) Wholesale, $910M (up 0.5%) Mass Markets, $1.196B (down 14.7%). Meanwhile, the company continues to trade at a low multiple and pay high dividend distributions. "In addition, we closed the divestiture of our Latin America business on August 1 and expect to close the divestiture of our 20-state ILEC business early in the fourth quarter of this year." Lumen Technologies(LUMN) is expanding into edge-computing infrastructure to facilitate the blockchain. "We improved our revenue trajectory and accelerated the number of Quantum Fiber locations enabled in the second quarter," said CEO Jeff Storey. EBITDA sunk further, though, down 14% on an adjusted basis to $1.76B, with a margin that fell to 39.3% from 42.8% a year ago.Īnd with a swing in other expenses, net income (excluding special items) dropped 31.5% to $344M. Revenues fell 6.3% to $4.61B, topping expectations for a 6.9% decline, as its Business segment top line largely held up (with strength in wholesale and international/global accounts). Lumen Technologies ( NYSE: LUMN) has fallen 3% after hours following its second-quarter earnings, which edged expectations on revenues but fell well short of per-share profit forecasts. Contact ETF Channel Meet Our Editorial /iStock via Getty Images Minutes ETF data powered by Ticker Technologies, and Mergent. Video widget and ETF videos powered by Market News Video.
#LUMEN TECHNOLOGY STOCK FULL#
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LUMN Description - Lumen Technologies Inc Office Hours: Mon-Fri: 9:00 AM-6:00 PM Sat: 10:00 AM-5:00 PM Sun: Closed.