Lumen Q3 revenue falls 12%, slightly misses estimates
LUMN•Lumen's Q3 revenue fell 12% year over year to $2.72 billion, slightly below estimates, while its adjusted loss per share of $0.14 was better than expected. The company expects 2026 adjusted EBITDA of $3.1 billion to $3.3 billion and free cash flow of $1.9 billion to $2.1 billion, excluding special items.
1. Quarterly results
Lumen reported Q3 revenue of $2.72 billion, down 12% year over year and slightly below the $2.73 billion consensus estimate. Its adjusted loss per share was $0.14, compared with an estimated loss of $0.23; its reported loss per share was $0.26.
2. Strategic revenue growth
Strategic revenue rose 10% year over year, which the company cited as a key driver. Lumen also highlighted 30% growth in Strategic sales and new contract signings, as well as increased adoption of its Network-as-a-Service platform and higher customer and port activity.
3. 2026 outlook
Lumen sees 2026 adjusted EBITDA, excluding special items, of $3.1 billion to $3.3 billion and free cash flow, excluding special items, of $1.9 billion to $2.1 billion. It maintained its 2026 capital expenditure guidance, excluding special items, at $3.2 billion to $3.4 billion.
