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Lumen Technologies (LUMN) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Nov 4, 2026 · Lumen Technologies (LUMN) Q3 2026 earnings results →
Q3 2026 Revenue down 12% year over year to $2.7B · 10¢ of every $1 of revenue lost · operating margin -6.2%
Lumen Technologies made $2.7B in Q3 2026 (-12% Y/Y). Operating margin -6.2%, net loss $265M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 4, 2026.
Drawing the Sankey…
Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $2.7B in Q3 2026, down 12% year over year and down 3% from the previous quarter.
Operating costs exceeded revenue by $0.17B, an operating margin of -6.2%. Total costs fell 10% while revenue fell 12%. The quarter ended with a net loss of $0.27B, wider than the previous quarter's $0.20B loss. Net interest and other expense of $0.17B was the main reason.
Operating cash flow was $0.52B (down 79% year over year). Non-cash charges added back $0.67B of depreciation and amortization and $0.02B of share-based compensation. Working capital and other items added $0.10B. Capital expenditures of $0.87B exceeded it, leaving free cash flow of −$0.35B.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Nov 4, 2026 | $2.7B | -12% | -6.2% | −$265M | $518M |
| Q2 2026 | 10-Q | Aug 4, 2026 | $2.8B | -9% | -3.1% | −$201M | $971M |
| Q1 2026 | 10-Q | May 5, 2026 | $2.9B | -9% | 20.8% | −$200M | $1.3B |
| Q4 2025 | 10-K | Feb 20, 2026 | $3.0B | -9% | -6.6% | −$2.0M | $562M |
| Q3 2025 | 10-Q | Oct 30, 2025 | $3.1B | -4% | -3.8% | −$621M | $2.5B |
| Q2 2025 | 10-Q | Jul 31, 2025 | $3.1B | -5% | -19.5% | −$915M | $570M |
| Q1 2025 | 10-Q | May 1, 2025 | $3.2B | -3% | 3.4% | −$201M | $1.1B |
Charts
Interactive views
The same charts as the app — open one to draw it.
💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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Customers and suppliers named in filings
Buys from
About Lumen Technologies
We are a leading digital networking services company, empowering enterprise businesses to fuel growth in a multi-cloud, AI-first marketplace by connecting people, data, and applications quickly, securely, and effortlessly. We are unleashing the world's digital potential by providing a broad array of integrated products and services to our customers. As of December 31, 2025, we had two segments, comprised of our Business segment, serving domestic and global customers, and our Mass Markets segment, serving domestic customers. We operate one of the world’s most interconnected communications networks. Our platform empowers our customers to swiftly adjust digital programs to meet immediate demands, create efficiencies, accelerate market access, and reduce costs, which allows our customers to rapidly evolve their IT programs to address dynamic changes.
In its own words, from its 10-K, filed Feb 20, 2026.
Lumen Technologies against its Telephone Communications (No Radiotelephone) peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: -12% against the peers' median +5%. Operating margin: -6.2% against the peers' median 3.5%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| LUMN Lumen Technologies | Q3 2026 | $2.7B | -12% | -6.2% |
| VZ Verizon Communications | Q3 2026 | $34.3B | +2% | 25.2% |
| T AT&T | Q3 2026 | $32.3B | +5% | 12.7% |
| UNIT Uniti Group | Q2 2026 | $910M | +202% | 3.5% |
| IDT IDT | Q4 FY26 | $339M | +7% | 9.8% |
| TDS Telephone & Data Systems | Q3 2026 | $307M | -0.6% | -9.8% |
| ATNI ATN International | Q3 2026 | $183M | 0% | 7.1% |
| IQST iQSTEL | Q2 2026 | $109M | +51% | -1.0% |
| SHEN Shenandoah Telecommunications | Q3 2026 | $93.9M | +5% | -2.1% |
Source: Lumen Technologies 10-Q on SEC EDGAR · CIK 18926 · Telephone Communications (No Radiotelephone)
Guidance and outlook
13F: who owns LUMN and who is buying
More on LUMN
- How Lumen Technologies makes money: revenue by segment
- Lumen Technologies next earnings date and what analysts expect
- Lumen Technologies stock forecast, price target and fair value
- Who owns Lumen Technologies stock: holders, funds and Congress trades
- Lumen Technologies guidance and outlook
- Is Lumen Technologies a takeover target? LBO and rumors
- Lumen Technologies recalls, complaints and regulation
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results