Lumen Technologies: Its Digital Platform Is Harnessing Multibillion-Dollar Opportunity! 

Lumen Technologies’ Fourth Quarter 2023 Earnings revealed significant progress in the company’s business transformation. Led by the efforts of the new executive team under CEO Kathleen Johnson, Lumen indicated that it had met its 2023 EBITDA and free cash flow guidance and had made material progress in its strategic priorities. To strengthen its balance sheet, Lumen entered into an agreement with a majority of its creditors that extends most debt maturities to 2029. The deal brought $1.325 billion of net new financing into the company and provided access to an approximately $1 billion revolving credit facility to support operations. Despite the potential risk of reliance on creditors, this deal reflects the bondholders’ confidence in Lumen’s strategy and aids the company in focusing on executing its business transformation.