Lumen Technologies, Inc. (NYSE:LUMN) Bank of America Securities 2024 Leveraged Finance Conference Call December 3, 2024 10:10 AM ET
Company Participants
Chris Stansbury – Executive Vice President & Chief Financial Officer
Conference Call Participants
Ana Goshko – Bank of America
Ana Goshko
Joining us at the Bank of America Leverage Finance Conference. I’m Ana Goshko from the fixed income research side, I cover Telecom and Technology. And we’re thrilled to have Lumen Technologies with us. Chris Stansbury, the Company’s Chief Financial Officer. So Chris, thank you so much for joining us.
Chris Stansbury
It’s great to be here.
Ana Goshko
Great. So any opening comments before we dive into Q&A.
Chris Stansbury
I would just say what a difference a year makes, right? I mean you think about the conversations a year ago versus where we are today but that’s what this is about.
Ana Goshko
What a difference a year makes because at this fixed income conference a year ago, I’d say it was a little more tense.
Chris Stansbury
Popular for a different reason.
Question-and-Answer Session
Q – Ana Goshko
Great. Okay. So let me just start with a big picture question. So you and Kate, CEO of the company have said that your best dollar of investment spent as an enterprise while residential, I think you’ve effectively said it’s like as noncore and any area that you want to exit? But what we — from the investor side have seen — has been a series of increasingly high transaction multiples on residential ILEC assets that have particularly focused on fiber upgrades. So does this make you pause and rethink your capital allocation strategy? And even as you look to monetize your ILEC assets, should be — should you be stepping up your fiber-to-the-home pace?
Chris Stansbury
It’s
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