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Lumen Technologies, Inc. (NYSE: LUMN) is a leading global telecommunications and technology company dedicated to transforming the way businesses and individuals interact with the digital world. With a workforce of approximately 38,000 professionals, Lumen is at the forefront of the 4th Industrial Revolution, offering flexible, intelligent, secure, and collaborative solutions for the next generation of business.
Lumen's extensive infrastructure includes 450,000 route miles of fiber, making it one of the largest telecommunication carriers in the United States. The company's strategic shift towards enterprise services was marked by its merger with Level 3 in 2017 and the divestiture of much of its ILEC business in 2022. Today, Lumen generates about 75% of its revenue from enterprise services, providing a full spectrum of communications solutions, including colocation and data center services, data transportation, and end-user phone and Internet services.
On the consumer side, Lumen delivers broadband and phone services across 37 states, serving 4.5 million broadband customers. The company is committed to enhancing the digital experience by leveraging its network strength, which spans metro connectivity, long-haul data transport, edge cloud, security, and managed service capabilities.
Lumen is also a recognized leader in cybersecurity. The latest Lumen Quarterly DDoS & Application Threat Report for Q4 2023 highlights a surge in DDoS attacks targeting the government sector. Lumen's advanced threat intelligence, powered by AI and machine learning, has been pivotal in mitigating these threats. The company's Black Lotus Labs threat intelligence team continues to identify and combat emerging cyber threats, such as the reemergence of TheMoon malware, which exploits outdated small office/home office (SOHO) routers.
Financially, Lumen has shown robust performance. The company reported total revenue of $3.290 billion for Q1 2024, alongside substantial improvements in customer satisfaction and significant broadband net additions. After executing a comprehensive debt restructuring plan, Lumen now enjoys a strengthened liquidity position and a streamlined debt maturity profile.
Recent achievements include securing a $73.6 million contract to transform the U.S. Government Accountability Office's (GAO) network infrastructure and launching Lumen Defender, a cutting-edge AI-driven cybersecurity tool designed to proactively block evolving threats at the network edge.
For more information about Lumen Technologies and their ambitious mission, please visit www.lumen.com.
Lumen Technologies (NYSE: LUMN) has partnered with Prometheus Hyperscale to provide network connectivity for sustainable AI-driven data centers. Prometheus will implement Lumen's Private Connectivity Fabric solution, including next-generation wavelength services and DDoS-protected Dedicated Internet Access.
The partnership will support Prometheus' flagship facility in Wyoming and four future data centers across the western U.S. The network infrastructure will enable high-density compute capabilities while maintaining commitment to renewable energy and carbon neutrality. Prometheus' Evanston, Wyoming campus, expected online in late 2026, will be among the world's largest data centers, with additional facilities planned in Colorado, Arizona.
Lumen Technologies and its subsidiary Level 3 Financing announced the expiration and results of their cash tender offers for unsecured 2028 Notes. For Lumen's 6.875% Debentures, 14.89% ($24,094,000) of the outstanding $161,817,000 were tendered at $947.50 per $1,000 principal. For Level 3's 4.250% Senior Notes, 56.41% ($275,334,000) of the outstanding $488,098,000 were tendered at $890.00 per $1,000 principal. The settlement is expected to occur by November 26, 2024.
Lumen Technologies (NYSE: LUMN) announced the expiration and results of certain cash tender offers, along with amendments to remaining offers. For expired offers, the company received varying tender rates: 38% of 5.625% Senior Notes due 2025, 9% of 7.200% Senior Notes due 2025, 41% of 5.125% Senior Notes due 2026, and 8% of 4.000% Senior Notes due 2027. Level 3 Financing received 8% tender for 3.400% Notes and 43% for 4.625% Notes due 2027.
For amended offers, Lumen increased tender consideration for 6.875% Debentures due 2028 to $947.50 and Level 3's 4.250% Senior Notes due 2028 to $890.00 per $1,000 principal amount. The expiration time has been extended to November 25, 2024.
Lumen Technologies (NYSE: LUMN) announced that their Executive VP and CFO Chris Stansbury will present at the BofA 2024 Leveraged Finance Conference on December 3, 2024, at 10:10 a.m. ET. The presentation by the global integrated network solutions provider will be accessible via live webcast through Lumen's Investor Relations website.
Lumen Technologies and its subsidiary Level 3 Financing have launched cash tender offers to purchase any and all of their outstanding unsecured notes. The offers cover eight different series of notes with varying interest rates and maturities. The tender consideration ranges from $860 to $1,000 per $1,000 principal amount. The offers will expire on November 18, 2024, at 5:00 p.m., New York City time, with an expected settlement date of November 19, 2024. Holders who validly tender their notes will receive the specified tender consideration plus accrued interest.
Lumen Technologies (LUMN) reported Q3 2024 results with a net loss of $(148) million, compared to $(78) million in Q3 2023. Total revenue was $3.221 billion, down from $3.641 billion year-over-year. The company generated Free Cash Flow of $1.2 billion, excluding special items, compared to $43 million in Q3 2023.
The company maintained its full-year 2024 Adjusted EBITDA outlook of $3.9 to $4.0 billion and raised its Free Cash Flow guidance to $1.2-$1.4 billion from $1.0-$1.2 billion. Lumen reported strong adoption of its digital services and record quarter for Quantum Fiber net subscription adds.
Lumen Technologies (NYSE: LUMN) has announced a strategic partnership with Google Cloud to accelerate digital transformation and AI innovation. The collaboration features the implementation of Lumen® Digital Twin technology, powered by Google Cloud's infrastructure and BigQuery platform, enabling real-time network insights and proactive issue resolution.
Google Cloud's Vertex AI platform and Gemini models will support new AI applications to improve operational efficiency and customer support. Additionally, Lumen Private Connectivity Fabric℠ will expand Google's network infrastructure to meet growing demand for cloud services and AI innovations.
Lumen Technologies (LUMN) and Amazon Web Services (AWS) announced a strategic partnership to enhance data center connectivity and optimize cloud technology delivery across the United States. Lumen will provide dedicated fiber infrastructure connecting AWS Regions and Local Zones, while implementing AWS technologies, including AI and machine learning, to modernize its systems. The collaboration aims to support high-bandwidth AI applications and enable dynamic network management. Lumen will migrate its IT and product platforms to AWS, utilizing Amazon Bedrock for network optimization and resource planning, working towards developing an AI-powered autonomous network platform.
Lumen Technologies (NYSE: LUMN) has appointed former Microsoft executive Chris Capossela to its board of directors. Capossela, who served as Microsoft's executive vice president and chief marketing officer for ten years, brings over 30 years of technology industry experience. In his previous role, he led worldwide marketing across consumer and commercial businesses, managing product marketing, business planning, and sales channels. The appointment increases Lumen's board size from 11 to 12 members.
Lumen Technologies (NYSE: LUMN) and Meta have announced a partnership to significantly increase Meta's network capacity, supporting its AI ambitions. Lumen's Private Connectivity Fabric℠ will provide dedicated interconnection for Meta's infrastructure, enhancing its ability to lead in AI development.
The expanded network aims to meet the growing demand for AI services across Meta's platforms, offering secure on-demand bandwidth to support complex computing needs and serve billions of users daily. This partnership includes dedicated access to existing fiber routes and new routes between data centers, positioning Lumen to deliver network capacity for an AI-ready world.
Ashley Haynes-Gaspar, Lumen's EVP and chief revenue officer, emphasized the significance of this expansion, while Alex-Handrah Aimé, director of Meta's Network Investments, highlighted the importance of advanced networks in supporting Meta's increasingly complex AI tools and immersive experiences.
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