Lumen Technologies Inc.: Mixed — EPS -$0.14, Revenue $2.72B
Mixed ResultQ3 2026 · After-market
Did Lumen Technologies Inc. (LUMN) beat earnings today?
It was a mixed report for Q3 2026 — Lumen Technologies Inc. (LUMN) beat on EPS but missed on revenue.
Earnings Per Share+41.67% surprise
-$0.14Actual
Expected: -$0.24
vs. year ago +30.0%
Total Revenue-0.55% surprise
$2.72BActual
Expected: $2.73B
vs. year ago -12.0%
Released Nov 04 · 4:01 PM ET
Earning Report
| Metric | Q3 2026 | Q3 2025 | YoY Change % |
|---|---|---|---|
| Revenue | $2.71B | $3.09B | -12.0 |
| Revenue detail — reported lines | |||
| └─Large Enterprise | $810.00M | $782.00M | +4.0 |
| └─Mid-Market Enterprise | $430.00M | $464.00M | -7.0 |
| └─Public Sector | $429.00M | $476.00M | -10.0 |
| └─North America Enterprise Channels | $1.67B | $1.72B | -3.0 |
| └─Wholesale | $607.00M | $655.00M | -7.0 |
| └─North America Business Revenue | $2.28B | $2.38B | -4.0 |
| └─International and Other | $70.00M | $79.00M | -11.0 |
| └─Business Revenue | $2.35B | $2.46B | -4.0 |
| └─Mass Markets Revenue | $369.00M | $631.00M | -42.0 |
| └─Strategic | $1.28B | $1.17B | +10.0 |
| └─Legacy | $1.07B | $1.29B | -17.0 |
| Net Loss | $(265)M | $(621)M | -57.0 |
| Basic Loss per Share | $(0.26) | $(0.62) | -58.0 |
| Diluted Loss per Share | $(0.26) | $(0.62) | -58.0 |
| Diluted Loss per Share, Excluding Special Items | $(0.14) | $(0.20) | +30.0 |
Financial Outlook / Guidance
| Metric | FY2026 Outlook |
|---|---|
| Guidance | |
| Adjusted EBITDA excluding Special Items | $3.1B-$3.3B |
| Free Cash Flow excluding Special Items | $1.9B-$2.1B |
| Net Cash Interest | $650M-$750M |
| Capital Expenditures excluding Special Items | $3.2B-$3.4B |
| Cash Income Taxes (Refunded) | $(350)M-$(450)M |
| Total other expense, net | $1.1B-$1.3B |
| Depreciation and amortization expense | $2.6B-$2.8B |
| Stock-based compensation expense | $60M-$80M |
FY2026 Outlook
- Adjusted EBITDA excluding Special Items
- Guidance$3.1B-$3.3B
- Free Cash Flow excluding Special Items
- Guidance$1.9B-$2.1B
- Net Cash Interest
- Guidance$650M-$750M
- Capital Expenditures excluding Special Items
- Guidance$3.2B-$3.4B
- Cash Income Taxes (Refunded)
- Guidance$(350)M-$(450)M
- Total other expense, net
- Guidance$1.1B-$1.3B
- Depreciation and amortization expense
- Guidance$2.6B-$2.8B
- Stock-based compensation expense
- Guidance$60M-$80M
Business Highlights
- ➤More than 4,000 customers were on Lumen’s NaaS platform.
- ➤NaaS active customers increased 24% sequentially and active ports rose 38%.
- ➤Lumen introduced Intelligent Internet across more than 10 million U.S. locations.
- ➤Intelligent Internet unifies offerings in a digitally managed, programmable service.
- ➤Lumen plans accelerated copper decommissioning in Florida, Iowa, Nevada and Utah.
- ➤The company announced plans to redefine networking for the AI and quantum eras.
- ➤Lumen signed $700 million in additional PCF deals year to date.
- ➤Cumulative signed PCF agreements exceeded $13.5 billion.
Management Commentary
Kate Johnson, CEO of Lumen
“We’re delivering what we promised and building a stronger, more valuable Lumen. AI-driven demand for connectivity is fueling momentum in our Strategic revenue base. Customers are choosing our platform to simplify their networks and get more from every connection. As we modernize our portfolio, we’re strengthening the economics of our business and investing in what comes next.”
Chris Stansbury, president and CFO of Lumen
“Our transformation is translating into financial results: a higher-quality revenue base, with stronger margins and more operating leverage. The third-quarter results reinforce that Lumen is being built on Strategic revenue growth, not on preserving the past. We remain on track to deliver adjusted EBITDA inflection this year and return to business revenue growth in 2028.”