Company data sheet · Lumen Technologies
Lumen Technologies: four lost years, and the economy wasn't the reason.
- Industry
- Telephone Communications
- Headquarters
- United States
- Ticker
- LUMN (NYSE)
- Sources
- SEC filings (1994–2026), Stratrix's verified Decision Cases, market data and official economic statistics for the United States
- Data as of
- October 18, 2026
- From profit to four straight losses. Lumen Technologies earned $2 billion in 2021–2021. Then it lost money every year from 2022 to 2025: $13.6 billion in all.
- It wasn't the cycle. The losses began in 2022, a year the US economy grew 2.4%. When a company falls while its economy grows, look inside the company first.
- Left behind by its peers. From 2016 to 2025, its revenue shrank 29% in US dollars; the median among 75 large transportation and utility companies grew 53%. It outgrew only 4% of them.
- Still smaller than it was. Revenue reached $12.4 billion in 2025, 45% below its 2018 peak of $22.6 billion.
- Leaders came and went. Lumen Technologies filed 34 leadership changes since 2016, more than 82% of large transportation and utility companies (the median is 20). The day after each, its shares moved a median 0.1 points against its sector. The news was rarely news.
Financial results
| Fiscal year | Revenue | Net income | |
|---|---|---|---|
| 2016 | $17.5 billion | $0.6 billion | |
| 2017 | $17.7 billion | $1.4 billion | |
| 2018 | $22.6 billion | −$1.7 billion | |
| 2019 | $21.5 billion | −$5.3 billion | |
| 2020 | $20.7 billion | −$1.2 billion | |
| 2021 | $19.7 billion | $2 billion | |
| 2022 | $17.5 billion | −$1.5 billion | |
| 2023 | $14.6 billion | −$10.3 billion | |
| 2024 | $13.1 billion | −$0.1 billion | |
| 2025 | $12.4 billion | −$1.7 billion |
As reported in its annual filings. Losses in red.
The full data sheet · Data Plan
Everything behind these findings, ready for your board deck.
- Market reaction to disclosed decisions: 80 decision filings since 2016, each linked to the SEC, with the share return against its sector and the S&P 500 the next day and the next year (40 with market data).
- Economic context: 7 measures for the United States, every year since 2016, from the official sources.
- Peer comparison: against 123 companies of its size in its sector.
- Financial results: ten years of revenue, operating and net income, and every annual report, linked.
- Methods and sources, so each number can be checked and cited.
The full data sheet downloads with the Data Plan. To see exactly what you get first, open the Boeing sample PDF or Excel.