Lumen Technologies (LUMN) FY2018 results: revenue $22.6 billion, up 27.9% on the year
Lumen Technologies, Inc. (LUMN) reported revenue of $22.6 billion for fiscal 2018, the year ended 31 December 2018, up 27.9% on the year before. Net income was -$1.7 billion, and diluted earnings per share $-1.63. The figures are the company's own, from the 10-K it filed with the SEC on 11 March 2019.
Revenue
$22.6 billion
+27.9% on the year
FY2011FY2018
Operating margin
2.5%
11.4% a year earlier
FY2011FY2018
Net income
-$1.7 billion
FY2011FY2018
Diluted EPS
-$1.63
FY2011FY2018
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Revenue
22,580
17,656
17,470
+27.9%
Cost of revenue
9,999
8,203
7,774
+21.9%
Gross profit
12,581
9,453
9,696
+33.1%
Gross margin
55.7%
53.5%
55.5%
Selling, general and administrative
4,165
3,508
3,449
+18.7%
Operating income
570
2,009
2,331
-71.6%
Operating margin
2.5%
11.4%
13.3%
Interest expense
2,177
1,481
1,318
+47.0%
Pre-tax income
-1,563
540
1,020
Income tax
170
-849
394
Effective tax rate
n/a
-157.2%
38.6%
Net income
-1,733
1,389
626
Net margin
-7.7%
7.9%
3.6%
Diluted EPS
-$1.63
$2.21
$1.16
$ 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
FY2018
FY2017
FY2016
On the year
Last 8 years
Operating cash flow
7,032
3,878
4,608
+81.3%
Capital expenditure
3,175
3,106
2,981
+2.2%
Free cash flow
3,857
772
1,627
+399.6%
Free cash flow margin
17.1%
4.4%
9.3%
Cash from investing
-3,078
-8,871
-2,994
Cash from financing
-4,023
5,356
-1,518
Depreciation and amortisation
5,120
3,936
3,916
+30.1%
Share-based compensation
186
111
80.0
+67.6%
Buybacks
n/a
17.0
16.0
Dividends paid
2,312
1,453
1,167
+59.1%
Dividend per share
$2.16
$2.16
$2.16
0.0%
Diluted shares, weighted
1,066m
629m
541m
+69.5%
Shares outstanding at period end
1,080m
1,069m
547m
+1.0%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
19,828
23,491
13,399
-15.6%
Debt
36,061
37,726
19,688
-4.4%
Other liabilities
14,367
14,394
13,930
-0.2%
Total liabilities and equity
70,256
75,611
47,017
-7.1%
Fixed assets
26,408
26,852
17,039
-1.7%
Goodwill
28,031
30,475
19,650
-8.0%
Intangible assets
8,911
10,876
n/a
-18.1%
Cash and equivalents
488
551
222
-11.4%
Receivables
2,398
2,557
2,017
-6.2%
Other assets
4,020
4,300
8,089
-6.5%
Total assets
70,256
75,611
47,017
-7.1%
10-K for the year ended 31 December 2018, filed 11 March 2019: the filing.