On February 09, Lumen Technologies Inc. (LUMN) declared its financial results for Q4 and fiscal 2021. As a result, the stock tumbled down in the after-hours on Wednesday.
The anticipation of the earnings release caused the stock to trade at a heavy volume of 20.51 million shares during the regular session. The day’s volume was 181% of its 65-day average, at which LUMN added 1.10%. At the close of the regular trading, the stock had a value of $12.82 per share. Following the announcement, LUMN nosedived to $11.29 in the after hours. Hence, the stock subtracted 11.93% at an after-hours volume of 5.03 million shares.
The investment holding company, Lumen Technologies Inc. provides integrated communications to residential and business customers. Currently, its 1.02 billion outstanding shares trade at a market capitalization of $12.98 billion.
LUMN: Q4 2021 Financials
In Q4 2021, the company had a net income of $508 million, against a net loss of $2.289 billion in the year-ago quarter. Thus, LUMN had diluted EPS of $0.50 in Q4 2021, against $(2.12) in the year-ago period.
Moreover, the adjusted EBITDA in the quarter was $2.088 billion, against $2.188 billion in Q4 of 2020.
Additionally, the free cash flow in the quarter was $776 million, against $943 million in the year-ago period.
Full Fiscal 2021 Results
In fiscal 2021, LUMN had a net income of $2.033 billion, against a net loss of $1.232 billion in the previous year. Resultantly, the company had diluted EPS of $1.91 and $(1.14) in fiscal 2021 and 2020, respectively.
Furthermore, the adjusted EBITDA was $8.440 billion and free cash flow was $3.742 billion in fiscal 2021.
LUMN’s Fiscal 2022 Outlook
For fiscal 2022, LUMN expects adjusted EBITDA between $6.5 and $6.7 billion, while free cash flow of $1.6 to $1.8 billion.
Additionally, the expected dividends for fiscal 2021 are $1.00 per share.
Workplace Recognition
On February 02, the company announced its fourth consecutive year for earning a score of 100 on the Human Rights Campaign (HRC) Foundation’s annual CEI. CEI is HRC’s Corporate Equality Index which measures corporate policies, practices, and benefits related to LGBTQ+ employees. It is the country’s foremost benchmarking survey and report.
As a result, LUMN is on the list as one of the best places to work for LGBTQ+ equality.
LUMN: Network Services Contract
Recently, the U.S. Department of Agriculture (USDA) awarded the company a task order of over $1.2 billion. LUMN is to deliver a fully integrated wide-area data transport service to over 9,500 USDA locations.
