Lumen Technologies Q2 2024 Adj. EPS $(0.13) Misses $(0.06) Estimate, Sales $3.268B Beat $3.246B Estimate
Portfolio Pulse from Benzinga Newsdesk
Lumen Technologies (NYSE:LUMN) reported Q2 2024 adjusted EPS of $(0.13), missing the $(0.06) estimate by 116.67%. Sales were $3.268 billion, beating the $3.246 billion estimate by 0.69%. Compared to the same period last year, EPS decreased by 230% and sales decreased by 10.73%.
August 06, 2024 | 8:02 pm
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Lumen Technologies reported a significant miss on Q2 2024 EPS, with a loss of $(0.13) per share compared to the $(0.06) estimate. Sales slightly beat expectations but were down 10.73% year-over-year. The substantial EPS miss and year-over-year declines in both EPS and sales are likely to negatively impact the stock price in the short term.
The significant miss on EPS and the year-over-year decline in both EPS and sales are strong negative indicators. Despite the slight beat on sales estimates, the overall financial performance suggests a negative short-term impact on the stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100