Lumen Q4 revenue down 7% to $3.5B; adj EPS $0.08; announces ~$9B debt restructuring

Lumen Technologies, Inc.

2023-FY EPS reported -$10.48 revenue$14,557,000,000

Q4 revenue $3.5B (-7% YoY); net loss $(2.0)B incl. $1.9B goodwill impairment; adj EPS $0.08 vs $0.43.
Full year 2023 revenue $14.6B (-17% YoY); adj EBITDA $4.63B (-33% YoY); FCF negative $(878)M vs positive $2.26B.
Announced debt restructuring to address ~$9B of maturities, covering >77% of debt due through 2027.
Completed $1.8B EMEA divestiture; net debt reduced by $1.6B in 2023.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Lumen Technologies, Inc. reported the fourth quarter ended December 31, 2023 results: revenue $3,517, net income $(1,995) billion, EPS $(2.03).

Period: the fourth quarter ended December 31, 2023
Revenue: $3,517
Net income: $(1,995) billion
EPS: $(2.03)
Result: reported results

Exact text from the filing

2,047 2,170 8,410 9,450 Wholesale 741 835 3,125 3,591 Business Segment Revenue 2,788 3,005 11,535 13,041 Mass Markets Segment Revenue 729 795 3,022 4,437 Total Revenue (1)(2) $ 3,517 3,800 14,557 17,478 Cost of Services and Products 1,737 1,826 7,144 7,868 Selling, General and Administrative Expenses 896 671 3,198 3,078 Net Loss (Gain) on Sale of Businesses

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Lumen Technologies, Inc. reported the fiscal year ended December 31, 2023 results: revenue $14,557, net income $(10,298) billion, EPS $(10.48).

Period: the fiscal year ended December 31, 2023
Revenue: $14,557
Net income: $(10,298) billion
EPS: $(10.48)
Result: reported results

Exact text from the filing

8,410 9,450 Wholesale 741 835 3,125 3,591 Business Segment Revenue 2,788 3,005 11,535 13,041 Mass Markets Segment Revenue 729 795 3,022 4,437 Total Revenue (1)(2) $ 3,517 3,800 14,557 17,478 Cost of Services and Products 1,737 1,826 7,144 7,868 Selling, General and Administrative Expenses 896 671 3,198 3,078 Net Loss (Gain) on Sale of Businesses (3) 9 480 121

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Lumen Technologies, Inc. filing history →

Source: SEC EDGAR

accession 0000018926-24-000008

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