Lumen Technologies Q1 2024 Adj EPS $(0.04) Misses $0.00 Estimate, Sales $3.290B Miss $3.367B Estimate
Portfolio Pulse from Benzinga Newsdesk
Lumen Technologies reported Q1 2024 adjusted earnings per share (EPS) of $(0.04), missing the consensus estimate of $0.00, and sales of $3.290 billion, missing the estimate of $3.367 billion. This represents a 140% decrease in EPS and an 11.99% decrease in sales compared to the same period last year.
April 30, 2024 | 8:03 pm
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NEGATIVE IMPACT
Lumen Technologies reported a significant miss in both adjusted EPS and sales for Q1 2024, with a 140% decrease in EPS and an 11.99% decrease in sales year-over-year.
The reported earnings miss and sales decline are significant indicators of underperformance, likely leading to negative investor sentiment and potential short-term price pressure on LUMN's stock. The magnitude of the miss and the comparison to last year's performance highlight operational and market challenges that could concern investors.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100