Lumen reports Q1 EPS (47c), consensus (10c)

Reports Q1 revenue $2.90B, consensus $2.83B. “Our strategy is working and we continue to progress towards our key financial goals we set out at Investor Day,” said Lumen (LUMN) CEO Kate Johnson. “The planned Alkira acquisition accelerates our digital platform strategy by extending the programmable capabilities customers need to support AI workloads.” “First-quarter results were in line with our expectations, reflecting continued progress against our financial and strategic goals. We strengthened our balance sheet, reduced leverage below 4x following the fiber to the home sale, and continued to simplify our internal systems,” said Lumen President and CFO Chris Stansbury. “Strategic revenue now represents more than half of our business revenue, and we are pleased with increasing customer interest in our programmable network solutions. The pending Alkira acquisition reflects a disciplined and opportunistic capital allocation strategy that supports our path to revenue growth outlined at Investor Day, while remaining on track to meet full-year guidance.”