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Lumen (LUMN) Reports Q1: Everything You Need To Know Ahead Of Earnings

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Telecommunications infrastructure company Lumen Technologies (NYSE: LUMN) will be reporting results this Tuesday after the bell. Here’s what you need to know.

Lumen met analysts’ revenue expectations last quarter, reporting revenues of $3.04 billion, down 8.7% year on year. It was a very strong quarter for the company, with a beat of analysts’ EPS estimates.

Is Lumen a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.

This quarter, the market is expecting Lumen’s revenue to decline 11% year on year, a further deceleration from the 3.3% decrease it recorded in the same quarter last year.

Lumen Total Revenue

The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Lumen has missed Wall Street’s revenue estimates multiple times over the last two years.

Looking at Lumen’s peers in the telecommunication services segment, only Iridium has reported results so far. It missed analysts’ revenue estimates, delivering year-on-year sales growth of 1.9%. The stock was down 3.6% on the results.

Read our full analysis of Iridium’s earnings results here.

There has been positive sentiment among investors in the telecommunication services segment, with share prices up 10.1% on average over the last month. Lumen is up 40.4% during the same time and is heading into earnings with an average analyst price target of $7.68 (compared to the current share price of $9.31).

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