Lumen Q3 net loss widens to $148M; revenue down 12% to $3.22B; free cash flow surges to $1.18B

Lumen Technologies, Inc.

2024-Q3 EPS reported -$0.14 revenue$9,779,000,000

Net loss of $148M ($0.15 diluted EPS) vs $78M loss ($0.08) YoY; adjusted EPS loss $0.13.
Revenue $3.221B, down 12% YoY; business segment revenue dropped 13% to $2.536B.
Adjusted EBITDA ex-special items $899M, down 14% from $1.049B; margin 27.9% vs 28.8%.
Free cash flow $1.182B (incl $170M pension contribution) vs $38M a year ago, driven by PCF sales.
Record Quantum Fiber net subscription additions; new Lumen Private Connectivity Fabric sales added liquidity.

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