LUMN: quick take following results
We are mostly focused on broadband trends (we don’t cover the stock). New homes passed improved sequentially and were better than expected. Management cut expectations for future builds, given resource constraints. The new guidance is to continue passing locations at a pace of ~500k per year (consistent with this year). This is down from an analyst day target of 800k for next year and 1MM for 2025.
Provided by our team of experienced analysts, our work is idea driven, based on independence of thought, sector expertise, and firmly focussed on fundamentals and valuation.
New Street Research is an independent, partner-owned, research firm specialising in equity and debt research. Our equity research embraces the following sectors:
- Pan European Telecom Services and Cable
- US Telecoms, Cable, Satellite and Towers
- Global Emerging Market Telecoms
- Japan Telecoms
- Asian Internet
- Pan European Healthcare
- Global healthcare thematic research
We provide debt research on:
- Pan European Telecom Services and Cable
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