Core Insights - Lamar Advertising Company reported strong financial results for the third quarter of 2024, with net revenues of $564.1 million, a 4.0% increase from $542.6 million in the same quarter of 2023 [3][21] - The company also recognized a net income of $147.8 million for Q3 2024, up from $140.4 million in Q3 2023, reflecting a 5.3% increase [3][21] - Adjusted EBITDA for the third quarter was $271.2 million, representing a 2.1% increase from $265.7 million in Q3 2023 [4][21] Three Month Results - Net revenues for Q3 2024 were $564.1 million, compared to $542.6 million in Q3 2023, marking a 4.0% increase [3][21] - Net income for Q3 2024 was $147.8 million, up from $140.4 million in Q3 2023, an increase of $7.4 million [3][21] - Adjusted EBITDA for Q3 2024 was $271.2 million, compared to $265.7 million in Q3 2023, a 2.1% increase [4][21] Nine Month Results - For the nine months ended September 30, 2024, net revenues were $1.63 billion, up from $1.56 billion in the same period of 2023, a 4.7% increase [7][21] - Net income for the nine months ended September 30, 2024, was $363.9 million, compared to $347.5 million for the same period in 2023, an increase of $16.4 million [7][21] - Adjusted EBITDA for the nine months ended September 30, 2024, was $754.6 million, compared to $717.6 million in 2023, a 5.2% increase [8][21] Financial Metrics - Funds from operations (FFO) for Q3 2024 were $214.0 million, compared to $210.0 million in Q3 2023, a 1.9% increase [5][21] - Adjusted funds from operations (AFFO) for Q3 2024 were $220.7 million, up from $208.8 million in Q3 2023, a 5.7% increase [5][21] - Diluted AFFO per share increased 5.4% to $2.15 for Q3 2024, compared to $2.04 for Q3 2023 [5][21] Liquidity and Guidance - As of September 30, 2024, Lamar had total liquidity of $450.7 million, consisting of $421.2 million available for borrowing and $29.5 million in cash [10][21] - The company raised its full-year guidance for diluted AFFO to a range of $7.85 to $7.95 per share [2][12]

BATON ROUGE, La., Oct. 08, 2024 (GLOBE NEWSWIRE) -- Lamar Advertising Company (Nasdaq: LAMR) will release its third quarter ended September 30, 2024 earnings report before the market opens on Friday, November 8, 2024. Lamar will host a conference call on Friday, November 8, 2024 at 8:00 a.m. (Central time) to discuss the Company's results and answer questions relating to company operations. Instructions for dialing into Lamar's conference call are provided below: All Callers: 1-800-420-1271 or 1-785-424-163 ...

Lamar Advertising's (LAMR) impressive footprint of outdoor advertising assets across the United States and Canada positions it well to ride the growth curve. An unmatched logo signs business, a diversified tenant base across various sectors and a focus on local businesses assure stable revenues. Efforts to expand the digital platform and technological advancements in the low-cost, out-of-home (OOH) advertising platform also bode well for long-term growth. Strategic expansions are expected to provide it an e ...

Shares of Lamar Advertising (LAMR) have rallied 22.2% year to date against its industry's growth of 11%. Its impressive footprint of outdoor advertising assets across the United States and Canada positions it well to ride the growth curve. An unmatched logo signs business, a diversified tenant base across various sectors and a focus on local businesses assure stable revenues. Efforts to expand the digital platform and technological advancements in the low-cost, out-of-home (OOH) advertising platform also bo ...

Lamar Advertising Company (LAMR) recently announced a 7.7% sequential hike in its quarterly cash dividend. The company will now pay a dividend of $1.40 per share, up from the $1.30 paid out earlier. Moreover, subject to the board of directors' nod, Lamar expects that its quarterly distributions to stockholders in 2024 will aggregate to at least $5.40. Based on the increased rate, the annualized yield comes at 4.6%, considering Lamar's closing price of $122.63 on Aug. 28. The increased dividend will be paid ...

BATON ROUGE, La., Aug. 27, 2024 (GLOBE NEWSWIRE) -- Lamar Advertising Company (Nasdaq: LAMR), a leading owner and operator of outdoor advertising and logo sign displays, announces that its board of directors has declared a quarterly cash dividend of $1.40 per share payable on September 30, 2024 to stockholders of record of Lamar's Class A common stock and Class B common stock on September 18, 2024. Subject to the approval of its board of directors, Lamar expects aggregate quarterly distributions to stockhol ...

Shares of Lamar Advertising (LAMR) have risen 12.6% year to date against its industry's increase of 3.3%. The company currently carries a Zacks Rank #2 (Buy). Earlier this month, this real estate investment trust (REIT), headquartered in Baton Rouge, LA, reported secondquarter 2024 adjusted funds from operations (AFFO) per share of $2.08, which beat the Zacks Consensus Estimate of $2.07. The figure also compared favorably with the prior-year quarter's tally of $1.90. Results reflected year-over-year growth ...

Shares of Lamar Advertising Company (LAMR) gained more than 2% on the Aug 8 normal trading session on the Nasdaq after it reported second-quarter 2024 adjusted funds from operations (AFFO) per share of $2.08, which beat the Zacks Consensus Estimate of $2.07. The figure also compared favorably with the prior-year quarter's tally of $1.90. Results reflect year-over-year growth in the top line, which was partly offset by higher interest expenses. The company's solid revenue growth was driven by continued stron ...

Lamar Advertising Company (NASDAQ:LAMR) Q2 2024 Earnings Conference Call August 8, 2024 9:00 AM ET Company Participants Sean Reilly - Chief Executive Officer Jay Johnson - Chief Financial Officer Conference Call Participants Cameron McVeigh - Morgan Stanley Jason Bazinet - Citigroup Inc. David Karnovsky - JPMorgan Chase & Co. Lance Vitanza - TD Cowen Operator Excuse me, everyone. We now have Sean Reilly and Jay Johnson in conference. Please be aware that each of your lines is in a listen-only mode. At the c ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 __________________________________ FORM 10-Q ________________________________________________________ x Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended June 30, 2024 or ¨ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from to Commission File Number 1-36756 __________________________________ Lamar Adv ...