Lumen Technologies Delivers Q4 Results and Deleveraging Milestone

Lumen Technologies ( (LUMN) ) has issued an announcement.

On Feb. 3, 2026, Lumen Technologies reported solid fourth-quarter and full-year 2025 results and highlighted the completion of its $5.75 billion transaction with AT&T, which reduced total debt by more than $4.8 billion, lowered net leverage below 4x, cut annual interest expense by nearly 45% and reduced capex by over $1 billion, boosting financial flexibility. For 2025, Lumen generated $12.4 billion in revenue, $3.36 billion in Adjusted EBITDA excluding special items and $1.04 billion in free cash flow (excluding special items), while posting a net loss of $1.74 billion, and it delivered Q4 revenue of $3.04 billion, a small net loss, and Adjusted EBITDA at the high end of guidance despite an earlier RDOF-related impact. Operationally, the company exceeded its cost-reduction target with over $400 million in run-rate savings exiting 2025 and set sights on $700 million in savings by the end of 2026 and $1 billion by the end of 2027, underpinning expected Adjusted EBITDA growth and its AI-focused network modernization strategy; at the same time, North America enterprise growth revenue reached 52% in the fourth quarter, PCF sales approached $13 billion, and NaaS customers rose 29%, signaling traction in its shift toward higher-value enterprise services even as overall revenues declined year over year.

The most recent analyst rating on (LUMN) stock is a Buy with a $10.00 price target. To see the full list of analyst forecasts on Lumen Technologies stock, see the LUMN Stock Forecast page.

Spark’s Take on LUMN Stock

According to Spark, TipRanks’ AI Analyst, LUMN is a Neutral.

The score reflects a mix of high fundamental risk (declining revenue, losses, and a stressed balance sheet with negative equity) and improving trajectory signals. Offsetting positives include strong technical momentum, encouraging earnings-call execution on cost savings and enterprise growth initiatives, and a major corporate event (Mass Markets fiber sale) that supports deleveraging and lower interest burden.

To see Spark’s full report on LUMN stock, click here.

More about Lumen Technologies

Lumen Technologies is a U.S.-based telecommunications and network services provider that focuses on enterprise connectivity, including programmable network services, network-as-a-service (NaaS) offerings, and solutions tailored for AI and multi-cloud environments. The company serves large and mid-market enterprises, the public sector, and wholesale customers, with a strategic emphasis on high-value North American enterprise growth and modernization of its physical and digital network platforms.

Average Trading Volume: 13,824,602

Technical Sentiment Signal: Strong Buy

Current Market Cap: $9.05B

For a thorough assessment of LUMN stock, go to TipRanks’ Stock Analysis page.