Telecom company Lumen Technologies (NYSE:LUMN) will be reporting results tomorrow after the bell. Here’s what you need to know.
Lumen Technologies met analysts’ revenue expectations last quarter, reporting revenues of $3.22 billion, down 11.5% year on year. It was a slower quarter for the company, with a significant miss of analysts’ adjusted operating income and EPS estimates.
Is Lumen Technologies a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Lumen Technologies’s revenue to decline 9.1% year on year to $3.20 billion, a further deceleration from the 7.4% decrease it recorded in the same quarter last year. Adjusted loss is expected to come in at -$0.05 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Lumen Technologies has missed Wall Street’s revenue estimates twice over the last two years.
Looking at Lumen Technologies’s peers in the wireless, cable and satellite segment, some have already reported their Q4 results, giving us a hint as to what we can expect. Charter delivered year-on-year revenue growth of 1.6%, meeting analysts’ expectations, and Comcast reported revenues up 2.1%, topping estimates by 1%. Comcast traded down 9.9% following the results.
Read our full analysis of Charter’s results here and Comcast’s results here.
Investors in the wireless, cable and satellite segment have had steady hands going into earnings, with share prices flat over the last month. Lumen Technologies is down 17.2% during the same time and is heading into earnings with an average analyst price target of $5.37 (compared to the current share price of $4.88).
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