Lumen Technologies (LUMN) FY2017 results: revenue $17.7 billion, up 1.1% on the year
Lumen Technologies, Inc. (LUMN) reported revenue of $17.7 billion for fiscal 2017, the year ended 31 December 2017, up 1.1% on the year before. Net income was $1.4 billion, up 121.9%, and diluted earnings per share $2.21. The figures are the company's own, from the 10-K it filed with the SEC on 1 March 2018.
Revenue
$17.7 billion
+1.1% on the year
FY2010FY2017
Operating margin
11.4%
13.3% a year earlier
FY2010FY2017
Net income
$1.4 billion
+121.9% on the year
FY2010FY2017
Diluted EPS
$2.21
+90.5% on the year
FY2010FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
17,656
17,470
17,900
+1.1%
Cost of revenue
8,203
7,774
7,778
+5.5%
Gross profit
9,453
9,696
10,122
-2.5%
Gross margin
53.5%
55.5%
56.5%
Selling, general and administrative
3,508
3,449
3,354
+1.7%
Operating income
2,009
2,331
2,579
-13.8%
Operating margin
11.4%
13.3%
14.4%
Interest expense
1,481
1,318
1,312
+12.4%
Pre-tax income
540
1,020
1,316
-47.1%
Income tax
-849
394
438
Effective tax rate
-157.2%
38.6%
33.3%
Net income
1,389
626
878
+121.9%
Net margin
7.9%
3.6%
4.9%
Diluted EPS
$2.21
$1.16
$1.58
+90.5%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
3,878
4,608
5,153
-15.8%
Capital expenditure
3,106
2,981
2,872
+4.2%
Free cash flow
772
1,627
2,281
-52.6%
Free cash flow margin
4.4%
9.3%
12.7%
Cash from investing
-8,871
-2,994
n/a
Cash from financing
5,356
-1,518
n/a
Depreciation and amortisation
3,936
3,916
4,189
+0.5%
Share-based compensation
111
80.0
73.0
+38.8%
Buybacks
17.0
16.0
819
+6.2%
Dividends paid
1,453
1,167
1,198
+24.5%
Dividend per share
$2.16
$2.16
n/a
0.0%
Diluted shares, weighted
629m
541m
555m
+16.3%
Shares outstanding at period end
1,069m
547m
544m
+95.6%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
23,491
13,399
14,060
+75.3%
Debt
37,726
19,688
20,225
+91.6%
Other liabilities
14,394
13,930
13,319
+3.3%
Total liabilities and equity
75,611
47,017
47,604
+60.8%
Fixed assets
26,852
17,039
18,069
+57.6%
Goodwill
30,475
19,650
20,742
+55.1%
Intangible assets
10,876
n/a
n/a
Cash and equivalents
551
222
126
+148.2%
Receivables
2,557
2,017
1,943
+26.8%
Other assets
4,300
8,089
6,724
-46.8%
Total assets
75,611
47,017
47,604
+60.8%
10-K for the year ended 31 December 2017, filed 1 March 2018: the filing.