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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continues to identify and combat emerging cyber threats, such as the reemergence of TheMoon malware, which exploits outdated small office/home office (SOHO) routers.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), a global integrated network solutions provider, has announced that it will release its third quarter 2024 results on Nov. 5, 2024. The company will host a live conference call on its Investor Relations website at 5 p.m. ET on the same day. Investors and interested parties can access additional information, including the earnings release, investor presentation, and related materials, on Lumen's Investor Relations website at http://ir.lumen.com. This announcement sets the stage for Lumen to share its financial performance and business updates for the third quarter of 2024 with shareholders and analysts.
Lumen Technologies (NYSE: LUMN) announced early results of its exchange offers for unsecured notes of Lumen and Level 3. Lumen offered to exchange up to $500 million of new 10.000% Secured Notes due 2032 for certain outstanding unsecured senior notes. Level 3 Financing offered to exchange up to $350 million of new 10.000% Second Lien Notes due 2032 for its outstanding unsecured senior notes.
For Lumen's offer, $490,819,000 in notes were tendered, not reaching the $500 million cap. Lumen expects to issue $438,305,345 in new notes and pay $13,694,400 in cash. For Level 3's offer, the $350 million cap was reached, with $357,142,000 in notes expected to be accepted. Level 3 plans to issue $349,999,160 in new notes.
The exchange offers expire on October 1, 2024, unless extended. The early tender deadline has passed, and tendered notes can no longer be withdrawn.
Lumen Technologies (NYSE: LUMN) has announced exchange offers for certain unsecured senior notes. Lumen is offering to exchange up to $500 million of newly-issued 10.000% Secured Notes due 2032 for its outstanding unsecured notes due 2026, 2027, 2028, and 2029. Level 3 Financing, a subsidiary, is offering to exchange up to $350 million of newly-issued 10.000% Second Lien Notes due 2032 for its outstanding unsecured notes due 2027 and 2028.
The exchange offers are subject to various conditions and prioritization levels. Early tenders (by September 16, 2024) will receive higher consideration. The offers expire on October 1, 2024, unless extended. The new notes will be secured and have similar covenants to existing secured notes. These offers are only available to qualified institutional buyers and non-U.S. persons outside the United States.
Lumen Technologies (NYSE:LUMN) has chosen Blue Planet Inventory (BPI), an intelligent automation software from Ciena's (NYSE:CIEN) Blue Planet division, to drive its strategic network inventory transformation initiative. This selection aims to:
- Consolidate multiple legacy inventory systems
- Streamline service delivery and assurance processes
- Digitize network assets
- Improve global customer experience
The implementation of BPI will enable Lumen to create a digital twin of its network, allowing for test simulations, network planning, and issue identification. This transformation is important for Lumen's mission to connect people, data, and applications efficiently while improving operational efficiency and supporting innovations like Network-as-a-Service and Private Connectivity Fabric℠.
Lumen Technologies (NYSE: LUMN), a global integrated network solutions provider, has announced that its Executive Vice President and CFO Chris Stansbury will present at the Goldman Sachs Communacopia + Technology Conference on September 9, 2024. The presentation is scheduled to begin at 7:25 p.m. ET.
Investors and interested parties can access a live webcast of the presentation through the Lumen Investor Relations website. This event provides an opportunity for Lumen to showcase its strategies and financial outlook to a broader audience of investors and industry professionals.
As a company that aims to unleash the world's digital potential, Lumen's participation in this conference underscores its commitment to engaging with the investment community and sharing insights into its business operations and future plans.
Lumen Technologies (NYSE: LUMN) has been selected by the New Mexico Office of Broadband Access and Expansion to provide nearly 900 miles of high-speed fiber connectivity to K-12 public schools across the state. The three-year contract, worth over $4.3 million in its first phase, will connect approximately 15,000 students in the Gadsden Independent School District and three charter schools in Albuquerque. Lumen will deliver secure high-speed connectivity using advanced fiberoptic wave technology, backbone circuits, and network nodes.
The project is part of the New Mexico Statewide Education Network, which aims to interconnect all New Mexico schools by 2027 and lay the foundation for a state-coordinated middle mile network. This initiative is important for digital inclusivity, equity, and affordability, bridging the gap to last-mile broadband providers. The network's first connection was celebrated at Albuquerque's 21st Century Public Academy, marking a significant step in New Mexico's commitment to technology in schools.
Lumen Technologies (NYSE: LUMN), a global integrated network solutions provider, has announced that its Executive Vice President and Chief Financial Officer, Chris Stansbury, will present at the BofA Securities 2024 Media, Communications & Entertainment Conference on September 5, 2024. The presentation is scheduled to begin at 8:50 a.m. ET.
Investors and interested parties can access a live webcast of the presentation through the Lumen Investor Relations website at https://ir.lumen.com/events-and-presentations. This event provides an opportunity for Lumen to showcase its strategies and financial outlook to a key audience in the media and communications sector.
Lumen Technologies (NYSE: LUMN) reported Q2 2024 results, showing continued success in North American Large and Mid-Market Enterprise sales. The company reported a Net Loss of $(49) million, compared to $(8.736) billion in Q2 2023. Total Revenue was $3.268 billion, down from $3.661 billion year-over-year. Adjusted EBITDA excluding Special Items was $1.011 billion, compared to $1.229 billion in Q2 2023. Free Cash Flow, excluding Special Items, was negative $(156) million.
Lumen updated its full-year 2024 outlook, projecting Adjusted EBITDA of $3.9 to $4.0 billion and Free Cash Flow of $1.0 to $1.2 billion. The company highlighted its partnership with Microsoft and potential to capitalize on AI-driven demand for high-bandwidth infrastructure.
Lumen Technologies (NYSE: LUMN) has secured $5 billion in new business driven by major demand for connectivity fueled by AI. The company is in active discussions for an additional $7 billion in sales opportunities. To meet this demand, Lumen plans to more than double its intercity network miles over the next five years and provide access to installed dark fiber. Lumen has also partnered with Corning for next-generation fiber-dense cable to accommodate increased AI data processing needs.
In response to this growth, Lumen has created a new Custom Networks division to manage its Private Connectivity Fabric℠ solutions and address interest from hyperscalers and large organizations. This division will provide customized network solutions, including dark fiber, custom fiber routes, and digital services for secure data center connections and AI-intensive workloads.
Lumen Technologies (NYSE: LUMN) has announced a significant agreement with Corning Incorporated (NYSE: GLW) for the supply of next-generation optical cable. This deal will more than double Lumen's U.S. intercity fiber miles, providing substantial capacity to major cloud data centers to meet the increasing demands of AI workloads and high-bandwidth applications. The agreement reserves 10% of Corning's global fiber capacity for each of the next two years.
This partnership aims to address the network infrastructure needs of major data center operators, including Microsoft, which recently announced an investment with Lumen. The new fiber-dense cable will enable Lumen to fit two-to-four times the amount of fiber into existing conduits, marking the first outside-plant deployment of Corning's new gen-AI fiber and cable system.
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