We recently published Wall Street Can’t Keep up With These 10 Crushing Stocks; 6 at Fresh Record Highs. Lumen Technologies, Inc. is one of the best-performing on Monday.
Lumen Technologies ended two straight days of losses on Monday to climb to a new all-time high, as investors took heart from higher adjusted EBITDA growth outlook for full-year 2025 and plans to save $1 billion in costs annually.
In a statement late last week, Lumen Technologies, Inc. said its multi-year transformation initiative to modernize and simplify costs to streamline network infrastructure, product portfolio, and IT systems is expected to deliver $1 billion in cost savings after 2027.
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Meanwhile, the company reaffirmed its growth outlook for full-year 2025, with total adjusted EBITDA expected to hit $3.2 billion to $3.4 billion.
Capital expenditures were on track to hit $4.1 billion to $4.3 billion, as the company ramps up developments aimed at supporting the artificial intelligence industry.
Last quarter, Lumen Technologies, Inc. widened its net loss by 319 percent to $621 million from $148 million in the same period last year on the back of higher expenses.
Meanwhile, adjusted EBITDA fell by 32 percent to $571 million from $843 million, while total revenues dipped by 4.16 percent to $3.087 billion from $3.221 billion year-on-year.
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This article is originally published at Insider Monkey.
