secwatch.observer — SEC 8-K summary
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Issuer:     Lumen Technologies, Inc. (LUMN)
CIK:        0000018926
Form:       8-K
Filed at:   2024-04-30T23:59:59+00:00
Accession:  0000018926-24-000053
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Lumen Q1 2024 net income $57M, revenue -12% to $3.29B; completes $15B+ debt restructuring
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- Net income of $57M ($0.06 diluted EPS); Q1 2023 was $511M ($0.52); excl. special items diluted loss $(0.04).
- Revenue $3.29B, down 12% YoY; Business segment $2.59B (-13%), Mass Markets $699M (-9%).
- Adj. EBITDA excl. special items $977M vs $1.251B (-22%); free cash flow $518M (incl. $700M tax refund) vs -$75M.
- Completed debt restructuring addressing >$15B of debt; extended maturities to 2029+; secured >$2.3B new liquidity.
- Reiterated FY2024 outlook; Q1 expected low-point for Adj. EBITDA; Quantum Fiber best-ever net adds.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/18926/000001892624000053/0000018926-24-000053-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/18926/000001892624000053/lumn-20240430.htm
  HTML page:      https://secwatch.observer/filing/0000018926-24-000053

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