Welcome to our dedicated page for Lumen Technologies news (Ticker: LUMN), a resource for investors and traders seeking the latest updates and insights on Lumen Technologies stock.
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continues to identify and combat emerging cyber threats, such as the reemergence of TheMoon malware, which exploits outdated small office/home office (SOHO) routers.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 has finalized the sale of its Latin American operations to Stonepeak for $2.7 billion in cash. Cirion, now operating under Stonepeak, will continue to serve customers with a focus on growth in the region. The sale enables Lumen to allocate capital towards strategic growth areas and debt reduction. Facundo Castro, previously Lumen's LATAM Regional President, has been appointed CEO of Cirion, which retains its existing executive team and employees. The partnership includes mutual network arrangements designed to enhance service delivery in Latin America.
Brightspeed has appointed Amy Wulfestieg as Chief Communications Officer, overseeing internal and external communications as the company embarks on a $2 billion fiber optics transformation. This initiative aims to provide advanced broadband services to rural communities across the Midwest, Southeast, and parts of Pennsylvania and New Jersey, reaching up to 3 million homes and businesses within five years. The company, formed from Lumen's assets, expects to finalize its acquisition by Apollo-managed funds in late 2022 after securing necessary regulatory approvals.
Brightspeed has announced its fiber network plans for Wisconsin, aiming to reach over 70,000 potential customers by the end of 2023. The company intends to invest at least $2 billion in fiber optics over the next five years, targeting up to 3 million homes and businesses. The first phase involves 70,000 new fiber passings across 15 counties, followed by an additional 80,000 in subsequent years. The company, comprising assets from Lumen Technologies, expects to finalize its acquisition by Apollo-managed funds soon. Brightspeed's initiative aims to enhance broadband access, especially in rural areas.
Lumen Technologies (NYSE: LUMN) has been awarded an 11-year task order valued at $137 million by U.S. Customs and Border Protection (CBP) to provide mission-critical communications and network services. The contract, part of the General Services Administration's $50 billion Enterprise Infrastructure Solutions (EIS) program, will enhance CBP's operational capabilities at ports, airports, and borders worldwide. Lumen will also assist in CPB's IT modernization through a software-defined wide area network solution.
On July 25, 2022, Lumen Technologies, Inc. (NYSE: LUMN) announced cash tender offers for several series of senior notes totaling up to $1 billion. Level 3 Financing is set to buy outstanding 5.375% and 5.250% notes, while Embarq Florida will acquire 7.125% and 8.375% notes. The offers are linked to a divestiture of Lumen's Latin America business and include consent solicitations to amend certain indenture provisions. The transaction is subject to various conditions, including a minimum acceptance threshold by investors and is set to expire on August 19, 2022.
Brightspeed has announced plans to develop a significant fiber optics network across Missouri, targeting over 130,000 new fiber passings by the end of 2023 and a total of 310,000 locations over several years. The company is investing more than $2 billion in this initiative, aiming to provide high-speed internet to urban and rural areas. Brightspeed's proposed network will leverage state-of-the-art technology, enabling speeds over 1Gbps. The acquisition of assets from Lumen Technologies is pending final approvals, with expectations to finalize by early Q4 2022.
Lumen Technologies (NYSE: LUMN) is expanding its Edge Computing Solutions into Europe, enhancing its global Edge network. This move is designed to provide businesses with low latency and high-bandwidth capabilities necessary for data-intensive applications. Currently, Lumen meets 70% of enterprise demand within 5 milliseconds of latency in key European countries. The expansion includes new edge infrastructure and increased network connectivity, enabling rapid deployment of applications. Lumen's Edge Computing Solutions encompass various services, including Edge Bare Metal and Private Cloud.
Brightspeed is set to install up to 14,000 new fiber connections in Louisiana by the end of 2023, with plans for an additional 14,000 in future phases, totaling 28,000 fiber-enabled locations. The initiative aims to enhance broadband access across several parishes, including Acadia and Calcasieu. Brightspeed, which is associated with Lumen Technologies, anticipates investing $2 billion in its fiber transformation and expects to connect up to 3 million homes and businesses over five years, utilizing advanced technologies for optimal performance.
Lumen Technologies (NYSE: LUMN) is set to report its second quarter 2022 results on August 3, 2022. A live conference call will take place at 5 p.m. ET, which can be accessed on their Investor Relations website. Additional earnings information, presentations, and materials will also be available online. For those unable to join live, an audio replay will be available starting at 8 p.m. ET on August 3 until 8 p.m. ET on November 1, 2022.
Lumen operates a vast network with approximately 500,000 route fiber miles globally.
Brightspeed has secured all necessary state regulatory approvals across 20 states, marking a significant step towards launching its fiber-based internet services. The company plans to invest over $2 billion to enhance connectivity for up to 3 million homes over the next five years, especially in underserved areas. The acquisition of Lumen’s operations is expected to close in early Q4 2022, pending FCC approval. Brightspeed's technology will support internet speeds exceeding 1Gbps, aiming to bridge the digital divide effectively.
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