Assigning The Long-Term Bull Thesis For Lumen Technologies

2026-03-11 00:24:46 ET

Thesis: Transformation Phase Completed

So after the last two updates from Lumen Technologies ( LUMN ) management, they seem pretty confident that the turnaround, well, at least the first phase of the turnaround, is completed. The numbers also back this up; we’re seeing a stabilising balance sheet after years of declining revenue, high leverage, and the old legacy telecom assets weighing on the business. I think a big key milestone in this transformation was scaling the legacy fibre and enterprise assets to AT&T. We also can't ignore their additional divestitures and monetisation initiatives, like their long-term fibre capacity agreements with certain hyperscalers....

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