Telecommunications infrastructure company Lumen Technologies (NYSE: LUMN) will be reporting results tomorrow after market hours. Here’s what to look for.
Lumen beat analysts’ revenue expectations by 4.2% last quarter, reporting revenues of $3.33 billion, down 5.3% year on year. It was a stunning quarter for the company, with a solid beat of analysts’ EPS estimates.
Is Lumen a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Lumen’s revenue to decline 4.9% year on year to $3.13 billion, improving from the 12% decrease it recorded in the same quarter last year. Adjusted loss is expected to come in at -$0.27 per share.
Analysts covering the company have generally 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 twice over the last two years.
Looking at Lumen’s peers in the telecommunication services segment, only Iridium has reported results so far. It beat analysts’ revenue estimates by 0.7%, delivering year-on-year sales growth of 5.4%. The stock was down 7.1% on the results.
Read our full analysis of Iridium’s earnings results here.Investors in the telecommunication services segment have had fairly steady hands going into earnings, with share prices down 2% on average over the last month. Lumen is down 7% during the same time and is heading into earnings with an average analyst price target of $4.87 (compared to the current share price of $3.57).
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