Lumen Technologies Inc Stock Price, News & Analysis

Lumen Technologies announced that its subsidiary Level 3 Financing plans to offer $1.0 billion in First Lien Notes due 2033. The proceeds, combined with cash on hand, will be used to redeem all $924.522 million of Level 3 Financing's existing 10.500% Senior Secured Notes due 2030, including redemption premium and related expenses. The new First Lien Notes will be offered exclusively to qualified institutional buyers under Rule 144A and non-U.S. persons under Regulation S, without registration under the Securities Act. The notes will not have registration rights.

Lumen Technologies (LUMN) has been selected to provide terrestrial backhaul connectivity for the JUNO Trans-Pacific Cable System, the highest-capacity undersea cable connecting Japan and the United States. The JUNO cable, spanning 10,000 kilometers, can deliver up to 350 Tbps across 20 fiber pairs using Space Division Multiplexing technology. Lumen's dark fiber network will transport data from the cable's U.S. landing point in Grover Beach, California, to major points of presence in San Jose and Los Angeles. This infrastructure enables seamless connectivity to cloud hubs, data centers, and enterprise networks across the U.S. The partnership aims to support next-generation applications, AI scaling, and enhanced digital connectivity between Asia and North America.

Lumen Technologies (NYSE: LUMN) has announced the sale of its Mass Markets fiber-to-the-home business, including Quantum Fiber, to AT&T (NYSE: T) for $5.75 billion in cash. The deal includes approximately 95% of Quantum Fiber, covering ~4 million enablements and nearly 1 million subscribers generating over $750 million in annualized revenue. Lumen will retain its core infrastructure, including national, regional, state, and metro fiber backbone networks, to focus on enterprise customers. The company plans to use $4.2 billion in net proceeds to reduce debt, cutting annual interest expenses by $300 million. The transaction will reduce Lumen's net debt to aEBITDA ratio from 4.9x to 3.9x and decrease fiber-related capital expenditures by $1 billion annually. The deal is expected to close in the first half of 2026.

AT&T (NYSE: T) has agreed to acquire Lumen's Mass Markets fiber business for $5.75 billion in an all-cash transaction, expected to close in H1 2026. The deal includes 1 million fiber subscribers and over 4 million fiber locations across 11 U.S. states. This acquisition will expand AT&T's presence in major metro areas including Denver, Las Vegas, Minneapolis-St. Paul, and Seattle. AT&T aims to reach approximately 60 million total fiber locations by 2030, roughly doubling its current coverage. Post-closing, AT&T plans to sell partial ownership of NetworkCo to an equity partner within 6-12 months. The company maintains its 2025 guidance and commitment to its $10 billion share repurchase program, with plans to repurchase at least $3 billion by year-end.

Lumen Technologies (NYSE: LUMN) has appointed two new members to its Board of Directors: Michelle J. Goldberg and Steve McMillan, effective May 15, 2025. Goldberg brings over 20 years of experience in early-stage technology and finance, having served as Partner at Ignition Partners and currently sitting on boards of Bakkt Holdings and Ally Financial. McMillan, currently President and CEO of Teradata Corporation, contributes expertise in global enterprise technology strategy and data analytics from his leadership roles at F5, Oracle, and IBM.

The appointments coincide with the retirement of three board members: Peter C. Brown, Steven T. Clontz, and Laurie Siegel. The board now consists of 11 members. These changes align with Lumen's strategic focus on digital networking and enterprise customer needs in a multi-cloud, AI-first world.

Lumen Technologies (NYSE: LUMN) has appointed Mark Hacker as Executive Vice President and Chief Legal Officer, effective immediately. Hacker joins from Motorola Solutions, where he served as General Counsel and Chief Administrative Officer, bringing over 20 years of experience in legal, regulatory, and government affairs roles.

During his time at Motorola Solutions, Hacker was instrumental in the company's transformation into an AI, software, and services leader, leading intellectual property litigation and building government affairs presence. At Lumen, he will lead the Legal and Public Policy organizations, overseeing legal strategy, corporate governance, regulatory compliance, government affairs, and ethics.

The appointment aligns with Lumen's strategy to establish itself as the trusted network for AI and build a leadership team capable of driving transformation.

Lumen Technologies and IBM have announced a strategic collaboration to develop enterprise-grade AI solutions at the edge, integrating IBM's watsonx AI portfolio with Lumen's Edge Cloud infrastructure. The partnership aims to enable real-time AI inferencing closer to data generation points, offering <5ms latency and direct cloud connectivity.

IBM Consulting will serve as the preferred systems integrator, helping clients scale deployments and reduce costs. The collaboration targets multiple industries including financial services, healthcare, manufacturing, and retail, focusing on enabling faster insights and lower operational costs. A practical example includes helping a major retailer enhance customer service through AI-driven digital assistants and visual inspection tools.

Lumen Technologies (LUMN) reported Q1 2025 results with notable challenges. The company posted a net loss of $201 million compared to net income of $57 million in Q1 2024. Total revenue declined to $3.182 billion, down from $3.290 billion year-over-year. Adjusted EBITDA excluding special items was $929 million, decreasing from $977 million in Q1 2024. Free Cash Flow excluding special items reached $354 million, down from $518 million. Despite challenges, the company highlighted progress in key priorities including operational excellence and AI backbone development. Notable achievements include a partnership with Google for direct fiber access to Google Cloud and growth in North American Business Grow revenue. The company maintained its 2025 outlook, projecting Adjusted EBITDA of $3.2-3.4 billion and Free Cash Flow of $700-900 million.

Lumen Technologies (NYSE: LUMN) has partnered with Churchill Downs Racetrack to implement Network-as-a-Service (NaaS) capabilities for the 151st Kentucky Derby. This technological upgrade will support the massive digital demands during Derby Week, where network usage surges from 2-3 Gbps to nearly 200 Gbps daily.

The implementation will serve over 385,000 annual visitors, providing high-capacity, secure connections for media coverage, vendor support, and guest Wi-Fi. The NaaS platform replaces traditional hardwired circuits with a dynamic, on-demand solution that can be scaled instantly to match event demands.

The network infrastructure supports critical operations across 83 race days annually, including veterinary services, security systems, and mutuel platforms. Additionally, Lumen's network extends to the backside community, providing essential connectivity for equestrians and their families, including schooling and communication services.