Centurylink (CTL) guided capital expenditures to 16% of revenue when 2018 guidance was issued in February 2018 but did not give revenue guidance. My last article ("My Take On CenturyLink, Its Free Cash Flow And Dividend") in March 2018 detailed how to reverse engineer their revenue range using other metrics management was guiding too. I will not repeat the mathematical gymnastics here since it is laid out in detail in that article. February 2018 guidance resulted in a revenue range of 23.75 billion to 24.37 billion.
Fast forward to today. 3Q results were released on November 8, 2018. Revenue for CenturyLink fell 4% to $5.82 billion, as the company reported declines across its business units.
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