Lumen Q4 2022 net loss $3.07B on $3.27B goodwill impairment; appoints Kate Johnson CEO

Lumen Technologies, Inc.

2022-FY EPS reported -$1.54 revenue$17,478,000,000

Net loss $3.069B (diluted EPS -$3.08) includes $3.271B goodwill impairment; vs net income $508M (EPS $0.50) prior year.
Excluding special items, adjusted diluted EPS $0.43 vs $0.51 prior year; Adjusted EBITDA $1.393B vs $2.088B.
Appointed Kate Johnson as president and CEO; completed $7.5B ILEC divestiture to Apollo and announced $1.8B EMEA sale to Colt.
Repurchased 33M shares for $200M; generated free cash flow $126M vs $776M prior year.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.96

Lumen Technologies, Inc. reported the fourth quarter of 2022 results: net income Net Loss of $(3.069) billion, EPS diluted loss per share of ($3.08).

Period: the fourth quarter of 2022
Net income: Net Loss of $(3.069) billion
EPS: diluted loss per share of ($3.08)
Result: reported results

Exact text from the filing

Reported Net Loss of $(3.069) billion for the fourth quarter 2022, which included a non-cash goodwill impairment charge of $3.271 billion, compared to reported Net Income of $508 million for the fourth quarter 2021

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Source: SEC EDGAR

accession 0000018926-23-000008

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