Lumen Technologies announced that it has finished its turnaround and presented a comprehensive growth plan for 2026 during its Investor Day held on February 25 2026. The company highlighted the end of a multi‑year restructuring effort that has restored profitability and positioned it for long‑term expansion.
The firm outlined a bold fiber‑network expansion, projecting intercity fiber miles to rise from 17 million at the end of 2025 to 58 million by 2031, with a 47 million‑mile target by the end of 2028. In parallel, Lumen disclosed that it has secured nearly $13 billion in Private Connectivity Fabric (PCF) deals, including a partnership with Anthropic that will extend its fiber reach into AI‑centric workloads.
Financially, Lumen reported a $5.75 billion sale of its Mass Markets fiber‑to‑the‑home business to AT &T, which lowered debt to below $13 billion. The company now expects annual interest savings of roughly $500 million and a $1 billion reduction in capital expenditures. Adjusted EBITDA margin is projected to climb from 27.1 % in 2025 to the mid‑30 % range by 2030, while its Network‑as‑a‑Service platform serves more than 2,000 customers.
CEO Kate Johnson said, "We've done what many thought we couldn't – stabilized the business, strengthened our financial foundation, and earned credibility in the market. Now we're accelerating from turnaround to growth." CFO Chris Stansbury added, "This is a defining moment for Lumen, as we close the chapter on our financial past and pivot to an executable path to growth. Our objective is clear: accelerate investment in AI and our digital future and where it drives the highest returns to deliver shareholder value."
Investors responded positively to the announcement, with key drivers including the completion of the turnaround, the strategic focus on AI infrastructure, the sizable PCF deals, and the ambitious margin and revenue targets set for the next decade.
The event signals a decisive shift from legacy telecom operations to a digital‑network‑services model tailored for the AI economy. Lumen will also roll out a new revenue‑reporting framework in Q1 2026, breaking revenue into products and services to better reflect its enterprise‑centric strategy. The company’s long‑term outlook now centers on expanding its fiber footprint, deepening AI‑related services, and sustaining a lean balance sheet to support continued growth.
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