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Lumen Q3 revenue falls 12%, slightly misses estimates

By Reuters News


Overview

  • U.S. telecom provider's Q3 revenue declined 12% yr/yr to $2.72 bln, a slight miss vs expectations

  • Adjusted loss per share for Q3 was $0.14, beating analyst estimates

  • Company's Strategic revenue rose 10% yr/yr, driven by NaaS platform adoption


Outlook

  • Lumen sees 2026 adj EBITDA excluding special items at $3.1 bln to $3.3 bln

  • Company expects 2026 free cash flow excluding special items of $1.9 bln to $2.1 bln

  • Lumen maintains 2026 capital expenditures excluding special items guidance at $3.2 bln to $3.4 bln


Result Drivers

  • STRATEGIC REVENUE GROWTH - Co said 10% yr/yr growth in Strategic revenue was a key driver, now making up a larger share of business revenue

  • NaaS PLATFORM ADOPTION - Co cited increased adoption of its Network-as-a-Service platform, with higher customer and port activity, as supporting results

  • SALES MOMENTUM - Co highlighted 30% yr/yr growth in Strategic sales and new contract signings as contributing to performance


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Revenue

Slight Miss*

$2.72 bln

$2.73 bln (8 Analysts)

Q3 Adjusted Loss Per Share

Beat

$0.14

$0.23 (5 Analysts)

Q3 Loss Per Share

$0.26

*Applies to a deviation of less than 1%; not applicable for per-share numbers.


Analyst Coverage

  • The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 1 "strong buy" or "buy", 9 "hold" and 1 "sell" or "strong sell"

  • The average consensus recommendation for the integrated telecommunications services peer group is "buy."

  • Wall Street's median 12-month price target for Lumen Technologies, Inc. is $7.36, about 54.9% above its November 3 closing price of $4.75


Reuters Recommended Reads

  • Nov 4 - Chunghwa Telecom Q3 profit rises on telecom, ICT growth

  • Nov 4 - Ambani's Jio explores tech-for-equity talks with Comcast and Charter, sources say

  • Nov 4 - Qualcomm signs major 5G infrastructure deal with SpaceX for Starlink Mobile network


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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