Lamar Advertising (LAMR) Misses Q3 EPS by 7c, Revenues Beat

Lamar Advertising (NASDAQ: LAMR) reported Q3 EPS of $0.99, $0.07 worse than the analyst estimate of $1.06. Revenue for the quarter came in at $457.8 million versus the consensus estimate of $452.28 million.

Three Month Results

• Net revenue increased 9.4% to $457.8 million
• Net income increased $5.7 million to $99.7 million
• Adjusted EBITDA increased 11.8% to $215.2 million

Three Month Acquisition-Adjusted Results

• Acquisition-adjusted net revenue increased 3.4%
• Acquisition-adjusted EBITDA increased 5.6%

Third Quarter Highlights

• Local revenue increased 3.1%
• National/Programmatic revenue increased 6.9%
• Same unit digital revenue increased 6.9%
• AFFO increased 8.6%
• Diluted AFFO per share increased 7.3%

“I am pleased to report that revenue growth accelerated in the third quarter, as advertisers increasingly recognize the power of out-of-home to reach their target audiences in today’s fragmented media landscape,” Chief Executive Sean Reilly said. “We anticipate continued strength in the fourth quarter and are on track to reach the upper end of our previously provided guidance for full-year AFFO per share.”

For earnings history and earnings-related data on Lamar Advertising (LAMR) click here.

You May Also Be Interested In

• Piper Sandler defends Oracle ahead of earnings, sees $2.2 billion OCI upside
• Morgan Stanley Resumes Kohl's (KSS) at Underweight
• Morgan Stanley Resumes Victoria Secret (VSXY) at Overweight