Lumen Technologies, Inc. (NYSE:LUMN) Q3 2024 Earnings Conference Call November 5, 2024 5:00 PM ET
Company Participants
Jim Breen - Senior Vice President, Investor Relations
Kate Johnson - President and Chief Executive Officer
Chris Stansbury - Executive Vice President and Chief Financial Officer
Conference Call Participants
Michael Rollins - Citi
Sebastiano Petti - J.P. Morgan
Batya Levi - UBS Securities
Jim Schneider - Goldman Sachs
Jonathan Chaplin - New Street
David Barden - Bank of America
Nick Del Deo - MoffettNathanson
Greg Williams - TD Cowen
Frank Louthan - Raymond James
Eric Luebchow - Wells Fargo
Operator
Greetings, and welcome to Lumen Technologies' Third Quarter 2024 Earnings Call. After the speakers' remarks, there will be a question-and-answer session. [Operator Instructions] And as a reminder, this conference is being recorded.
I would now like to turn the conference over to Jim Breen, Senior Vice President, Investor Relations. Jim, please go ahead.
Jim Breen
Good afternoon, everyone, and thank you for joining Lumen Technologies' third quarter 2024 earnings call. On the call today are Kate Johnson, President and Chief Executive Officer; and Chris Stansbury, Executive Vice President and Chief Financial Officer.
Before we begin, I need to call your attention to our Safe Harbor Statement on slide one of our third quarter 2024 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 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, which can be found in our earnings press release.
In addition, certain metrics discussed today exclude costs for special items as detailed in our earnings materials, which can be found in our Investor Relations section of our Lumen website.
With that, I'll turn the call over to Kate.
Kate Johnson
Good afternoon, everyone, and thanks for joining. Lumen's third quarter headline is this: the transformation is happening, we are making progress in our journey to turn Lumen into a digital network services company with simple and modern product offerings, infrastructure, and operations. We are pursuing two major growth factors: building the AI backbone and cloudifying telco, and has made material progress with each.
With that said, and as expected, our financial performance still reflects the secular headwinds on our legacy revenues. We are also investing heavily in transformation programs, while running the core business, which weighs heavily on our EBITDA results. And we have fully recognized we have a long way to go on this journey, and we understand that our current financial results coupled with the fact that telcos and the industry are not talking about a turnaround, making it difficult to imagine long-term success for Lumen.