Lumen Technologies, Inc. (NYSE:LUMN) Q1 2022 Earnings Conference Call May 4, 2022 5:00 PM ET

Company Participants

Mike McCormack - SVP of IR

Jeff Storey - President and CEO

Chris Stansbury - EVP and CFO

Conference Call Participants

Batya Levi - UBS

Simon Flannery - Morgan Stanley

David Barden - Bank of America

Eric Luebchow - Wells Fargo

Greg Williams - Cowen & Company

Michael Rollins - Citi

Brett Feldman - Goldman Sachs

Phil Cusick - JPMorgan

Nick Del Deo - MoffettNathanson

James Ratcliffe - Evercore ISI

Walt Piecyk - LightShed Partners

Operator

Greetings, and welcome to Lumen Technologies First Quarter Earnings Conference Call. During the presentation, all participants will be in a listen-only mode. Afterwards, we will conduct a question-and-answer session. [Operator Instructions] As a reminder, this conference is being recorded today, Wednesday, May 4, 2022.

It is now my pleasure to turn the conference over to Mike McCormack, Senior Vice President of Investor Relations. Please go ahead.

Mike McCormack

Thank you, France. Good afternoon, everyone, and thank you for joining us for the Lumen Technologies First Quarter 2022 Earnings Call. Joining me on the call today are Jeff Storey, President and Chief Executive Officer; Chris Stansbury, Executive Vice President and Chief Financial Officer; and our Senior Vice President and Treasurer, Rafael Martinez-Chapman.

Before we begin, I need to call your attention to our safe harbor statement on slide 2 of our first quarter 2022 presentation, which notes that this conference call may include forward-looking statements subject to certain risks and uncertainties. All forward-looking statements should be considered in conjunction with the cautionary statements on slide 2 and the risk factors in our SEC filings.

We will be referring to certain non-GAAP financial measures reconciled to the most comparable GAAP measures that can be found in our earnings press release. In addition, certain metrics discussed today exclude cost for special items, as detailed in our earnings materials, all of which can be found on the Investor Relations of the Lumen website.

With that, I'll turn the call over to Jeff.

Jeff Storey

Thanks, Mike, and good afternoon, everyone, and thank you for joining us.

I'd like to begin the call today by welcoming Chris Stansbury to the Lumen team as our Chief Financial Officer. Chris joined us from Arrow Electronics and brings over 25 years of finance leadership experience. I'm confident that Chris' skills and knowledge will prove invaluable to our organization as we drive toward profitable revenue growth. Chris joins Lumen an exciting time for our company and its stakeholders. We continue to anticipate closing two major transactions this year, which will provide a significant improvement in our revenue mix and generate over $7 billion of net cash proceeds.