Lumen Technologies Inc Stock Price, News & Analysis

Lumen Technologies (NYSE: LUMN) has expanded its partnership with Zoom to launch Zoom delivered by Lumen, enhancing collaboration for businesses globally. This offering combines Lumen's fiber network and security features with Zoom's communication solutions, aimed at supporting businesses, schools, and hospitals during the digital transition. The partnership, first announced in September 2020, will introduce additional features such as Zoom Phone and Lumen Cloud Connect for Zoom in the upcoming months.

Lumen Technologies (NYSE: LUMN) has announced a quarterly cash dividend of 25 cents per share, payable on Dec. 11, 2020, to shareholders recorded by Nov. 30, 2020. The ex-dividend date is set for Nov. 27, 2020. This action underscores the company's commitment to returning value to shareholders amidst its strategic aims in technology advancement, with over 450,000 route fiber miles serving clients in more than 60 countries.

Lumen (NYSE: LUMN) has secured positions as an authorized service provider on two significant contracts with the U.S. Department of Veterans Affairs (VA). The company will provide essential communications services under a $721 million contract for local exchange carrier services and a $195 million contract for data and wide area network services. Both contracts support IT modernization for the VA, enhancing services for veterans over the next 12 to 15 years.

Lumen Technologies (NYSE: LUMN) reported a total revenue of $5.167 billion for the third quarter of 2020, down from $5.350 billion in Q3 2019. Despite this decline, the company achieved a net income of $366 million, a notable increase from $302 million year-over-year. Adjusted EBITDA for the quarter was $2.112 billion, with a margin of 40.9%. The company is optimistic about future growth, focusing on digital transformation and addressing expanding markets. Free cash flow was reported at $806 million, compared to $931 million in the previous year.

Lumen Technologies (NYSE: LUMN) has announced significant upgrades to its DDoS Mitigation Service in response to a surge in sophisticated DDoS attacks, which now cost businesses an average of $221,000 in downtime. New features include Rapid Threat Defense, a software-based response service that automatically detects and blocks DDoS threats, and a Three-Tiered Scrubbing Architecture for effective threat mitigation. Additionally, the new DDoS Hyper allows customers to quickly configure and deploy mitigation services through a self-service portal.

Lumen Technologies (NYSE: LUMN) announced that its subsidiary, Qwest Corporation, completed significant debt transactions. On October 23, 2020, Qwest amended its 2015 term loan with CoBank ACB, extending its maturity from February 2025 to October 2027, and increasing the loan amount from $100 million to $215 million. Additionally, on October 26, 2020, Qwest redeemed $160 million of its 6.625% Notes due 2055 at par, plus accrued interest. These actions aim to align Qwest's financial structure and enhance liquidity.

Lumen (NYSE: LUMN) has launched a new self-service online portal to simplify how businesses purchase networking, edge cloud, and security solutions. This digital buying experience allows for quick configuration, ordering, and deployment of services, responding to client requests for more agility. Key offerings include Lumen Hyper WAN for wide area networking, Dynamic Connections IP VPN for cloud connections, and DDoS Hyper for enhanced security against attacks. Lumen aims to continuously enhance its digital offerings to better serve its business clients.

Lumen Technologies, trading under NYSE: LUMN, announced that its subsidiary Qwest Corporation is redeeming $160 million of outstanding 6.625% Notes due 2055. Notices for the redemption were issued on October 9, 2020, with the redemption taking place on October 26, 2020, at par plus accrued interest. This action is part of Lumen's broader strategy to manage its debt. Additional details can be obtained from U.S. Bank National Association. The press release emphasizes that this does not serve as a notice of redemption for the Qwest Notes.

Lumen Technologies (NYSE: LUMN) is scheduled to announce its third quarter 2020 results on Nov. 4, 2020, at 5 p.m. ET. The earnings release will be available on their Investor Relations website. Investors can join a live conference call or access an archive of the call starting at 7 p.m. ET on the same day. Lumen operates approximately 450,000 route fiber miles, serving customers in over 60 countries, providing technology solutions aimed at enhancing business and community experiences.