Lumen revenue falls 9% to $2.9 billion; raises 2026 free cash flow outlook to $1.9-2.1 billion
Lumen reported first-quarter 2026 revenue of $2.899 billion, down 9% from $3.182 billion a year earlier, and a net loss of $200 million, similar to the $201 million loss in the prior-year quarter. The company raised its full-year 2026 free cash flow outlook to $1.9-2.1 billion from $1.2-1.4 billion, while keeping its adjusted EBITDA outlook at $3.1-3.3 billion, and said it has agreed to acquire Alkira.
Key points
- Total revenue was $2.899 billion versus $3.182 billion a year earlier; diluted loss per share was $(0.20) in both periods.
- Excluding special items, diluted loss per share was $(0.47) versus $(0.13), and adjusted EBITDA excluding special items was $849 million versus $929 million.
- Free cash flow excluding special items was $756 million versus $354 million; the full-year free cash flow outlook includes $729 million of Mass Markets Fiber-to-the-Home divestiture proceeds.
- Lumen agreed to acquire Alkira; the filing does not state the purchase price in the materials provided.
The filing
Written by AI on Nov 8, 2026, 1:01 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on May 05, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.