Catastrophic fourth quarter earnings are out. Q4 2022 revenue was down around 25% compared to Q4 2021. That's $4.8 billion in Q4 2021 and $3.8 billion in Q4 2022. The cherry on top is a $3.27 billion "goodwill impairment charge." Whatever that could be.
Wow just wow. I knew things were really bad for the company but I didn't think it could be this bad.
Reported Net Loss of $3.069 billion for the fourth quarter 2022, which included a non-cash goodwill impairment charge of $3.271 billion, compared to reported Net Income of $508 million for the fourth quarter 2021
quarter on quarter declining revenues, a disastrous share buyback that actually backfired as the share price has since tanked, woke leadership and 58 BILLION DOLLARS in liabilities = Chapter 11 in the next year
Vspp sounds great to me 22 years I’ll be going this year and love to have a little bonus
Revenues have been declining for over 20 years---every single quarter since 2000. The original CenturyTel doesn't even exist. It was sold to Apollo. They kept two pieces of Embarq and all of Qwest. Even a good chunk of Level 3 was sold. Time to move on. I took my pension as a lump sum so I'm completely cashed out.
Ispp/vspp's are on the horizon. 12.87 to 3.74 in the last year. The telecom sector is down around 20% vs nearly 70%. They'll be cutting costs very soon
chapter 11 in the next 2 years
Welcome former GE executives.
Just look who the new executives most admire.
Go woke, go broke.
LUMN pre-market touched $3.99
Every Tech companies are suffering.
Lumen is one of them.
It will turn around.
Good Management isn’t something that should be betrayed! This company combined the survivors of the industry and then through them off the boat without a life preserver! How’s that working out?
One thing to keep in mind is most mutual funds have a $5 rule. So this is either the best or worst time to own Lumen. Radical moves will likely be made. Can the company survive a business version of the defibrillator or will it be more like a ventilator?
So far in after hours trading LUMN has traded as low as $4.13, currently at $4.15.