⚠️Lumen Technologies ( $LUMN (-1.89%) ) Raises FY24 FCF Guidance Despite Q3 Miss

GUIDANCE UPDATES

- Free Cash Flow forecast raised to $1.2B-$1.4B (previous: $1.0B-$1.2B)

* Exceeds consensus estimate of $894.9M

- Maintained other key guidance metrics:

* Capital expenditure: $3.10B-$3.30B

* Adjusted EBITDA: $3.90B-$4.00B

Q3 2023 PERFORMANCE

Financial Metrics:

- Revenue: $3.22B (met estimates)

- Adjusted Loss: $0.13 per share (missed est. -$0.085)

- Adjusted EBITDA: $899M (missed est. $966.6M)

- Cash Position: $2.64B (exceeded est. $1.71B)

- Capital Expenditure: $850M (under est. $887.1M)