Company profile

Ticker
CTL
Exchange
CEO
Jeffrey K. Storey
Employees
Incorporated in
Location
Fiscal year end
Former names
Century Telephone Enterprises Inc, Centurytel Inc
SEC CIK
IRS number
720651161

CTL stock data

(
)

Calendar

7 May 20
14 Jul 20
31 Dec 20

News

Company financial data Financial data

Quarter (USD) Mar 20 Dec 19 Sep 19 Jun 19
Revenue 5.23B 5.57B 5.61B 5.58B
Net income 314M 223M 302M 371M
Diluted EPS 0.29 0.21 0.28 0.35
Net profit margin 6.01% 4.00% 5.39% 6.65%
Operating income 980M 847M 950M 976M
Net change in cash -126M 286M 994M -31M
Cash on hand 1.56B 1.69B 1.4B 410M
Cost of revenue 2.24B 2.52B 2.59B 2.45B
Annual (USD) Dec 19 Dec 18 Dec 17 Dec 16
Revenue 22.4B 23.44B 17.66B 17.47B
Net income -5.27B -1.73B 1.39B 626M
Diluted EPS -4.92 -1.63 2.21 1.16
Net profit margin -23.52% -7.39% 7.87% 3.58%
Operating income -2.73B 570M 2.01B 2.33B
Net change in cash 1.2B -63M 329M 96M
Cash on hand 1.69B 488M 551M 222M
Cost of revenue 10.08B 10.86B 8.2B 7.77B

Financial data from CenturyLink earnings reports

Date Owner Security Transaction Code 10b5-1 $Price #Shares $Value #Remaining
1 Jul 20 Eric Mortensen Common Stock Payment of exercise Dispose F No 9.87 906 8.94K 208,456
1 Jul 20 Indraneel Dev Common Stock Payment of exercise Dispose F No 9.87 1,757 17.34K 772,196
1 Jul 20 Jeffrey K Storey Common Stock Payment of exercise Dispose F No 9.87 16,267 160.56K 3,829,217
1 Jul 20 Shaun C Andrews Common Stock Payment of exercise Dispose F No 9.87 906 8.94K 193,466
18 Jun 20 Jones Hal Common Stock Sell Dispose S No 10.1413 265 2.69K 16,439
18 Jun 20 Jones Hal Common Stock Buy Aquire P No 10.1413 265 2.69K 16,704
76.8% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 676 711 -4.9%
Opened positions 74 109 -32.1%
Closed positions 109 88 +23.9%
Increased positions 241 218 +10.6%
Reduced positions 250 261 -4.2%
13F shares
Current Prev Q Change
Total value 74.73B 113.84B -34.4%
Total shares 842.55M 847.66M -0.6%
Total puts 17.33M 23.76M -27.1%
Total calls 6.65M 8.81M -24.4%
Total put/call ratio 2.6 2.7 -3.5%
Largest owners
Shares Value Change
Vanguard 132.02M $1.25B +4.4%
Temasek 97.26M $920.07M 0.0%
BLK BlackRock 95.8M $906.24M -1.5%
Southeastern Asset Management 67.2M $635.72M -6.1%
STT State Street 61.6M $582.73M +2.0%
Dimensional Fund Advisors 18.87M $178.6M +6.6%
Geode Capital Management 18.07M $170.77M -2.4%
AIG American International 17.79M $168.29M -12.8%
C Citigroup 13.52M $127.87M +209.2%
BAC Bank of America 13.4M $126.73M +4.7%
Largest transactions
Shares Bought/sold Change
Norges Bank 0 -9.37M EXIT
C Citigroup 13.52M +9.15M +209.2%
PUK Prudential 5.97M +5.97M NEW
Vanguard 132.02M +5.57M +4.4%
Southeastern Asset Management 67.2M -4.37M -6.1%
MNGPF Man 3.69M +3.24M +724.1%
Arrowstreet Capital, Limited Partnership 3.57M +3.24M +955.4%
AIG American International 17.79M -2.62M -12.8%
Nuveen Asset Management 5.23M -2.25M -30.1%
Millennium Management 0 -2.25M EXIT

Financial report summary

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Risks
  • Our failure to simplify our service support systems could adversely impact our competitive position.
  • We may not be able to compete successfully against current or future competitors.
  • Rapid technological changes could significantly impact our competitive and financial position.
  • Our failure to meet the evolving needs of our customers could adversely impact our competitive position.
  • Several of our services continue to experience declining revenue, and our efforts to offset these declines may not be successful.
  • We may not be able to successfully adjust to changes in our industry, our markets and our product mix.
  • Our revenue and cash flows from operating activities may not be adequate to fund all of our cash requirements.
  • Our failure to hire and retain qualified personnel could harm our business.
  • We could be harmed by security breaches or other significant disruptions or failures of networks, information technology infrastructure or related systems owned or operated by us.
  • Negative publicity may adversely impact us.
  • Market prices for many of our services have decreased in the past, and any similar price decreases in the future will adversely affect our revenue and margins.
  • Our future growth potential will depend in part on the continued development and expansion of the Internet.
  • Increases in broadband usage may cause network capacity limitations, resulting in service disruptions, reduced capacity or slower transmission speeds for our customers.
  • We have been accused of infringing the intellectual property rights of others and will likely face similar accusations in the future, which could subject us to costly and time-consuming litigation or require us to seek third-party licenses.
  • We may not be successful in protecting and enforcing our intellectual property rights.
  • Our operations, financial performance and liquidity are materially reliant on various third parties.
  • Violating our government contracts could have other serious consequences.
  • If we fail to extend or renegotiate our collective bargaining agreements with our labor unions as they expire from time to time, or if our unionized employees were to engage in a strike or other work stoppage, our business and operating results could be materially harmed.
  • Portions of our property, plant and equipment are located on property owned by third parties.
  • Our major contracts subject us to various risks.
  • Our international operations expose us to various regulatory, currency, tax, legal and other risks.
  • Certain of our international operations are conducted in countries or regions experiencing corruption or instability, which subjects us to heightened legal and economic risks.
  • We are exposed to currency exchange rate risks and currency transfer restrictions and our results may suffer due to currency translations and re-measurements.
  • We expect rising costs and other industry changes will continue to adversely impact our video business.
  • We may not be able in the future to acquire new businesses on attractive terms.
  • Any additional future acquisitions or strategic investments by us would subject us to additional business, operating and financial risks, the impact of which cannot presently be evaluated, and could adversely impact our capital structure or financial position.
  • Asset dispositions could have a detrimental impact on us or the holders of our securities.
  • Unfavorable general economic conditions could negatively impact our operating results and financial condition.
  • Although we believe we have successfully integrated our incumbent business with Level 3’s business, additional challenges may remain.
  • We operate in a highly regulated industry and are therefore exposed to restrictions on our operations and a variety of risks relating to such regulation.
  • Our participation in the FCC's Connect America Fund ("CAF") Phase II support program poses certain risks.
  • Regulation of the Internet and data privacy could substantially impact us.
  • We may be liable for the material that content providers or distributors distribute over our network.
  • Our pending legal proceedings could have a material adverse impact on our financial condition and operating results, the trading price of our securities and our ability to access the capital markets.
  • We are subject to franchising requirements that could impede our expansion opportunities or result in potential fines or penalties.
  • We are exposed to risks arising out of legislation affecting U.S. public companies.
  • Changes in any of the above-described laws or regulations may limit our ability to plan, and could subject us to further costs or constraints.
  • Our high debt levels expose us to a broad range of risks.
  • Subject to certain limitations, our debt agreements and the debt agreements of our subsidiaries allow us to incur additional debt, which could exacerbate the other risks described in this report.
  • We expect to periodically require financing, and we cannot assure you that we will be able to obtain such financing on terms that are acceptable to us, or at all.
  • We have a highly complex debt structure, which could impact the rights of our investors.
  • Any downgrade in the credit ratings of us or our affiliates could limit our ability to obtain future financing, increase our borrowing costs and adversely affect the market price of our existing debt securities or otherwise impair our business, financial condition and results of operations.
  • Under our debt agreements, a change of control of us or certain of our affiliates could have certain adverse ramifications.
  • Our business requires us to incur substantial capital and operating expenses, which reduces our available free cash flow.
  • As a holding company, we rely on payments from our operating companies to meet our obligations.
  • We cannot assure you that we will continue paying dividends at the current rates, or at all.
  • Our current dividend practices could limit our ability to deploy cash for other beneficial purposes.
  • We cannot assure you whether, when or in what amounts we will be able to use our net operating loss carryforwards, or when they will be depleted.
  • Increases in costs for pension and healthcare benefits for our active and retired employees may reduce our profitability and increase our funding commitments.
  • European Union regulation and reform of “benchmarks,” including LIBOR, is ongoing and could have a material adverse effect on the value and return on our variable rate indebtedness.
  • We face risks from natural disasters and extreme weather, which can disrupt our operations and cause us to incur substantial additional capital and operating costs.
  • Terrorist attacks and other acts of violence or war may adversely affect the financial markets and our business.
  • If conditions or assumptions differ from the judgments, assumptions or estimates used in our critical accounting policies or forward-looking statements, our consolidated financial statements and related disclosures could be materially affected.
  • Lapses in our disclosure controls and procedures or internal control over financial reporting could materially and adversely affect our operations, profitability or reputation.
  • If we are required to record additional intangible asset impairments, we will be required to record a significant charge to earnings and reduce our stockholders' equity.
  • Shareholder activism efforts could cause a material disruption to our business
  • The Tax Cuts and Jobs Act will continue to have a substantial impact on us.
  • Additional changes in tax laws or tax audits could adversely affect us.
  • The trading price of our common stock could be reduced if a large number of shares of our common stock are sold in the public market, or under various other circumstances.
  • The rights agreement that we entered into to protect our ability to use our accumulated NOLs could discourage third parties from seeking strategic transactions with us that could be beneficial to our shareholders.
  • Our other agreements and organizational documents and applicable law could similarly limit another party’s ability to acquire us.
Management Discussion
  • In this section, we discuss our overall results of operations and highlight special items that are not included in our segment results. In "Segment Results of Operations" we review the performance of our five reporting segments in more detail.
  • (1) Reclassifications were made within certain 2019 comparative figures due to the retrospective application of an accounting policy election during the first quarter of 2020. Refer to Note 1 - Background and our Form 8-K filing dated April 30, 2020 for further information.
  • For over a decade, we have experienced revenue declines, excluding the impact of acquisitions, primarily due to declines in voice and private line customers, switched access rates and minutes of use. More recently, we have experienced declines in revenue derived from the sale of certain of our other products and services. To partially mitigate these revenue declines, we remain focused on efforts to, among other things:
Content analysis ?
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Legalese
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H.S. sophomore Good
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Patents

GRANT
Utility
Physical to virtual network transport function abstraction
14 Jul 20
When the physical network is transitioned into a virtual network, functionality provided by physical ports are no longer available in the virtual machine (“VM”) environments.
GRANT
Utility
Apparatus, system, and method for packet switching
14 Jul 20
An apparatus is provided for control of a plurality of forwarding switches using a network controller.
GRANT
Utility
Network address resolution
14 Jul 20
A content delivery method including the operations of receiving a uniform resource locator resolution request at an authoritative name server for a domain where the uniform resource resolution request is received based, at least in part, on a host name of the uniform resource resolution request where the host name is uniquely related to a resource associated with the uniform resource resolution request.
APP
Utility
System and Method for Next Hop BGP Routing In a Network
9 Jul 20
Aspects of the present disclosure involve systems for providing multiple egress routes from a telecommunications network for a client of the network.
APP
Utility
System and Method for Correlating Routing Protocol Information
9 Jul 20
Aspects of the present disclosure involve systems, methods, computer program products, and the like, for correlating information associated with one networking transmission protocol, such as Internet Protocol version 6 (IPv6), to information associated with a different networking transmission protocol, such as Internet Protocol version 6 (IPv4).