Lumen Reportedly Looking to Offload its Consumer Fiber Business

Zacks12-20 20:15

Lumen Technologies, Inc LUMN is looking to offload the consumer fiber business as the company phases out its legacy mass markets business and strives to reduce debt load, according to a report from ...

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Further, LUMN might just sell a stake or get into a joint venture deal with a partner.Citing sources, Reuters noted that the deal could be valued in the range of $6-$9 billion, subject to the business parts Lumen is willing to sell and the structure of the deal.Lumen Technologies, Inc. price-consensus-chart | Lumen Technologies, Inc. Quote. However, Lumen notes that given the overall business trends and initial cost impacts from the incremental PCF sales, it expects 2024 EBITDA at the low end of the guided range. The company continues to expect 2025 EBITDA to be below the levels of 2024, owing to the investments i","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4535":"淡马锡持仓","LU0149725797.USD":"汇丰美国股市经济规模基金","LU2125910500.SGD":"Natixis WCM Global Emerging Markets Equity H-R/A SGD","LUMN":"Lumen Technologies","BK4089":"非传统电信运营商","BK4585":"ETF&股票定投概念","BK4145":"电子制造服务","IDCC":"InterDigital","LU2045819591.USD":"Natixis WCM Global Emerging Markets Equity R/A USD","CLS":"天弘科技","BK4588":"碎股","BK4554":"元宇宙及AR概念","BK4023":"应用软件","PLXS":"普雷克萨斯"},"translate_title":"据报道，Lumen希望出售其消费光纤业务","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"CLS":1,"IDCC":1,"PLXS":1,"LUMN":0.9},"content_text":"Lumen Technologies, Inc LUMN is looking to offload the consumer fiber business as the company phases out its legacy mass markets business and strives to reduce debt load, according to a report from Reuters. \nCiting sources familiar with the matter, Reuters added that Lumen has sought assistance from Goldman Sachs to understand interest from potential buyers (including the company’s rivals) for its fiber unit. Further, LUMN might just sell a stake or get into a joint venture deal with a partner.\nCiting sources, Reuters noted that the deal could be valued in the range of $6-$9 billion, subject to the business parts Lumen is willing to sell and the structure of the deal.\n\nLumen Technologies, Inc. Price and Consensus\n\nLumen Technologies, Inc. price-consensus-chart | Lumen Technologies, Inc. Quote\nReuters also added that the talks are in early stages and nothing is guaranteed. There was no official comment on the matter from Lumen.\nThe deal will necessitate the splitting up of the fiber business, as the company is not planning to sell the enterprise fiber operations, added Reuters.\nPivot to AI Amid Secular Headwinds in Legacy Business\n\nLumen has been witnessing secular headwinds in its legacy business for some time now. In the third quarter of 2024, Lumen’s total revenues declined 11.5% year over year to $3,211 million. The decline was due to the negative impact of divestitures, commercial agreements and the sale of the CDN business.\nThe company has made a pivot to AI to boost its performance. The demand for the company’s PCF solutions has been emerging as an encouraging development. Lumen secured an additional $3 billion in incremental PCF deals, bringing the total to $8 billion in new PCF sales since June 2024. As AI needs surge, large companies across various industries are urgently seeking fiber capacity, which is becoming highly valuable and potentially scarce.\nLumen has inked deals with various tech giants like Microsoft, Amazon, Google Cloud and Meta Platforms to provide the network capabilities for AI innovation. Increasing demand for Lumen services, particularly for Waves and IP in its large enterprise and mid-market segments remains a highlight.\nLumen raised its free cash flow guidance for 2024, driven by higher cash flows associated with PCF sales growth. For 2024, free cash flow is now anticipated to be between $1.2 billion and $1.4 billion. Earlier, the company expected free cash flow in the range of $1-$1.2 billion.\nHowever, Lumen notes that given the overall business trends and initial cost impacts from the incremental PCF sales, it expects 2024 EBITDA at the low end of the guided range. The company continues to expect 2025 EBITDA to be below the levels of 2024, owing to the investments in transformation costs along with higher startup costs for PCF sales and legacy revenue declines. Lumen expects EBITDA to significantly rebound in 2026 and register growth thereafter.\nLUMN’s Zacks Rank and Stock Price Movement\nAt present, LUMN carries a Zacks Rank #3 (Hold). In the past year, shares have surged 248.2%, outpacing the S&P 500 composite and sub-industry’s growth of 24.4% and 48%, respectively. Yesterday, LUMN was up 4.7% and closed the session at $6.06.\nPrice Performance\nImage Source: Zacks Investment Research\nStocks to Consider\nSome better-ranked stocks from the broader technology space are Plexus Corp., Inc. PLXS, InterDigital, Inc. IDCC and Celestica CLS, each presently sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.\nThe Zacks Consensus Estimate for PLXS’ fiscal 2025 EPS is pegged at $6.79, unchanged in the past seven days. PLXS’ earnings beat the Zacks Consensus Estimate in three of the trailing four quarters, while missing once, with the average surprise being 10.3%. Its shares have increased 47.5% in the past year.\nThe Zacks Consensus Estimate for IDCC’s 2024 earnings is pegged at $15.22, up 12.5% in the past 30 days. IDCC’s earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, with the average surprise being 163.7%. Its shares have surged 70.1% in the past year.\nThe Zacks Consensus Estimate for CLS’ 2024 EPS is pegged at $3.85, up 5.5% in the past 60 days. Celestica’s earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, with the average surprise being 13.2%. The stock has inched up 213.6% in the past year.\nWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report\nPlexus Corp. (PLXS) : Free Stock Analysis Report\nCelestica, Inc. (CLS) : Free Stock Analysis Report\nInterDigital, Inc. (IDCC) : Free Stock Analysis Report\nLumen Technologies, Inc. (LUMN) : Free Stock Analysis Report\nTo read this article on Zacks.com click here.\nZacks Investment Research","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2493242734"}