Lumen Technologies (LUMN) reported Q4 EPS of $0.43, $0.25 better than the analyst estimate of $0.18. Revenue for the quarter came in at $3.8 billion versus the consensus estimate of $3.78 billion.
2023 Financial Outlook
The company announced its full-year 2023 financial outlook which is detailed below:
Metric (1)(2) | Outlook(3) |
Adjusted EBITDA | $4.6 to $4.8 billion |
Free Cash Flow(4)(5) | $0 to $200 million |
Net Cash Interest | $1.1 to $1.2 billion |
GAAP Interest Expense | $1.200 billion |
Capital Expenditures | $2.9 to $3.1 billion |
Depreciation and Amortization | $2.9 to $3.1 billion |
Stock-based Compensation Expense | ~$125 million |
Cash Income Taxes(5) | ~$200 to $300 million |
Full Year Effective Income Tax Rate | ~26% |
(1) For definitions of non-GAAP metrics and reconciliations to GAAP figures, see the attached schedules and our Investor Relations website. | |
(2) Outlook measures in this chart and the accompanying schedules (i) exclude the effects of Special Items, future changes in our operating or capital allocation plans, unforeseen changes in regulation, laws or litigation, and other unforeseen events or circumstances impacting our financial performance and (ii) speak only as of Feb. 7, 2023. See "Forward-Looking Statements." | |
(3) Includes accounting impacts of assets and liabilities held for sale and assumes the proposed sale of Lumen's EMEA business is not completed during 2023. | |
(4) Assumes no discretionary pension plan contributions during 2023. | |
(5) Excludes the estimated $900 million to $1 billion impact of taxes related to our divestitures completed on Aug. 1, 2022 and Oct. 3, 2022. | |