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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continues to identify and combat emerging cyber threats, such as the reemergence of TheMoon malware, which exploits outdated small office/home office (SOHO) routers.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) will be presenting at the Morgan Stanley 2021 Technology, Media and Telecom Conference on March 4, 2021, at 12:30 p.m. ET. Laurinda Pang, the president of global customer success, will represent the company. Investors can access the webcast of the presentation via Lumen's Investor Relations website. Lumen, with a network of approximately 450,000 route fiber miles, serves customers across more than 60 countries, focusing on enhancing technology to improve experiences.
Lumen Technologies Inc. (NYSE: LUMN) has appointed Quincy L. Allen to its board of directors, effective immediately. Allen brings over 35 years of experience in the technology services industry, with roles at IBM, Unisys, and Xerox. His expertise spans marketing, strategy, and innovation. The board believes Allen's leadership will enhance Lumen's position as a technology leader. Following his appointment, the board now has 12 members. Allen qualifies as an independent director under NYSE standards.
Lumen Technologies (NYSE: LUMN) has declared a quarterly cash dividend of 25 cents per share. This dividend is set for payment on March 19, 2021, to shareholders recorded by the close of business on March 8, 2021. The ex-dividend date is March 5, 2021. With approximately 450,000 route fiber miles and service in over 60 countries, Lumen aims to enhance technological advancements for enhanced experiences in various sectors.
Lumen Technologies (NYSE: LUMN) has enhanced its Edge Computing Solutions, introducing online procurement for Lumen Edge Bare Metal services, aiming to cover 95% of U.S. enterprise locations with low latency by year-end. Lumen Edge Bare Metal enables businesses to access powerful computing infrastructure within an hour, achieving approximately 60% coverage at 5 milliseconds of latency. The new Lumen Network Storage offers secure and scalable storage solutions, further supporting enterprises' need for efficient data processing and storage at the Edge.
Lumen Technologies (NYSE: LUMN) has been awarded the 2021 Global New Product Innovation Award by Frost & Sullivan for its comprehensive web protection solutions. This recognition highlights Lumen's significant advancements in enterprise security, particularly its DDoS Mitigation Service, which boasts 85 Tbps mitigation capacity, reducing mean-time-to-detect and resolve attacks by up to 75%. The award acknowledges Lumen's commitment to enhancing customer experience and streamlining security strategy with integrated solutions.
Lumen Technologies (NYSE: LUMN) announced the successful redemption of $900 million of 5.375% Senior Notes due 2024 by its subsidiary Level 3 Financing Inc. on February 12, 2021. Additionally, on February 16, 2021, Qwest Corporation, another subsidiary, completed the redemption of $235 million of 7.00% Notes due 2056. Both redemptions were executed at par plus accrued interest, indicating a strategic move to manage debt and interest expenses.
Lumen Technologies reported Q4 2020 revenue of $5.125 billion, down 3% from Q4 2019. Despite this, the company emphasized significant advancements in their transformation strategy, particularly with the launch of the Lumen platform to enhance digital experiences. Adjusted EBITDA stood at $2.281 billion, with a margin of 44.5%. Notably, a non-cash goodwill impairment of $2.642 billion was recorded. Looking ahead, Lumen projects adjusted EBITDA between $8.4 to $8.6 billion for 2021, with free cash flow anticipated between $2.8 to $3.0 billion.
Lumen Technologies (NYSE: LUMN) and VMware (NYSE: VMW) announced a strategic partnership expansion to enhance edge computing and secure work-from-anywhere solutions. The collaboration will include a Joint Innovation Lab focusing on integrating VMware Tanzu with Lumen's Edge Bare Metal service, enabling secure edge-native workloads. Additionally, VMware's Secure Access Service Edge (SASE) will be incorporated into Lumen services, improving network reliability for distributed workforces. The partnership aims to drive innovation in automated factories, smart cities, and telemedicine.
Lumen Technologies (NYSE: LUMN) announced that its subsidiary, Qwest Corporation, will redeem all $235 million of its 7.00% Notes due 2056. The redemption is scheduled for February 16, 2021, at par plus any accrued and unpaid interest up to the redemption date. This move may affect Lumen's financials by reducing outstanding debt, thereby influencing cash flow and interest expenses. Further details can be obtained from U.S. Bank National Association. This announcement is not a formal notice of redemption.
Lumen Technologies (LUMN) has partnered with SAP (SAP) to integrate SAP HANA into the Lumen platform, streamlining cloud services for small and medium-sized enterprises. This collaboration targets 75,000 global customers, enabling quicker deployment and management of SAP Business One in the cloud. Lumen will provide a cost-effective, monthly service-based pricing model, enhancing its platform with a hybrid deployment option. As the first cloud management platform to host SAP HANA, Lumen aims to position itself strategically in the digital economy.
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