Here are the 10-Q quarterly reports from Qwest Corporation 6.5% Notes due 2056 (CTBB) in our archive since June 2025, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow CTBB and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full CTBB filings page.
Qwest Corporation, an indirect subsidiary of Lumen, reported a sharp swing to a net loss in the first quarter of 2026 as it closed a major fiber divestiture. Operating revenue fell to $1.05 billion from $1.22 billion, driven by declines in broadband, voice, legacy services, and affiliate revenue, including the impact of selling the Mass Markets Fiber-to-the-Home business.
Operating income dropped to $47 million from $388 million, mainly due to a $242 million net loss on the sale. After a large $288 million tax expense tied to nondeductible goodwill, Qwest posted a net loss of $226 million versus prior-year net income of $284 million. Despite this, cash from operations was $264 million, aided by divestiture-related contractual arrangements, and total debt remained about $1.7 billion with no major maturities before 2030.
Qwest Corporation reported lower third‑quarter results as it prepares to divest a major fiber business. Total operating revenue was $1,161 million versus $1,363 million a year ago, with declines across Other Broadband, Voice and Other, Fiber Broadband, legacy Harvest, and Nurture, plus lower Affiliate Services. Operating income was $243 million versus $498 million; net income was $176 million versus $365 million.
The company classified the Mass Markets fiber‑to‑the‑home business as held for sale and expects to sell it with certain affiliates to AT&T for a pre‑tax total of $5.75 billion, subject to adjustments, with closing anticipated in early 2026. Assets held for sale were $2,689 million and liabilities held for sale were $13 million as of September 30, 2025. Depreciation on the disposal group was suspended, reducing Q3 depreciation by an estimated $25 million.
For the nine months, operating cash flow was $1,360 million, capital expenditures were $582 million, and interest income from affiliates rose on a $937 million note receivable. Long‑term debt was $1,689 million (fair value $1,336 million). Litigation and non‑income tax accruals totaled $70 million.