Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 __________________________ Form 10-K __________________________ (Mark One) x ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 ¨ 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 Advertising Company _______ ...

5321 Corporate Boulevard Baton Rouge, LA 70808 Lamar Advertising Company Announces Fourth Quarter and Year Ended December 31, 2023 Operating Results Three Month Results Twelve Month Results For the fourth quarter of 2023, funds from operations, or FFO, was $213.7 million versus $195.2 million for the same period in 2022, an increase of 9.5%. Adjusted funds from operations, or AFFO, for the fourth quarter of 2023 was $215.0 million compared to $194.5 million for the same period in 2022, an increase of 10.5%. ...

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 September 30, 2023 UNITED STATES SECURITIES AND EXCHANGE COMMISSION or Washington, D.C. 20549 __________________________________ ¨ 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 __________________________________ Lama ...

Financial Data and Key Metrics Changes - Revenue for Q2 2023 showed growth across all business segments, but a slowdown in activity was observed as the company entered Q3, leading to a revised revenue outlook for the second half of the year [4][5] - Adjusted funds from operations (AFFO) decreased by 1.2% year-over-year to $194.4 million, with cash interest increasing by $13.8 million compared to Q2 2022 [19] - Adjusted EBITDA for Q2 2023 was $253.9 million, an increase of 4.3% from the previous year, with an adjusted EBITDA margin of 46.9% [38] Business Line Data and Key Metrics Changes - The service category saw a strong increase of over 16%, while weaker categories included gaming (down over 4%), real estate (down over 9%), and insurance (down almost 21%) [5][46] - Digital revenue accounted for 30% of total revenue in Q2, with same-store sales down 1% for the quarter but up 3% for June [6] Market Data and Key Metrics Changes - Local revenue increased by 2.4% in Q2, while national revenue rose by 1.4%, excluding programmatic impacts [35] - The Northeast and Midwest regions contracted year-over-year due to their exposure to national advertising, while the Atlantic region and Gulf Coast saw good growth [7][35] Company Strategy and Development Direction - The company is focusing on expense control, with acquisition-adjusted expense growth expected to be around 1.5% for the full year [17][23] - The acquisition pipeline has moderated, with total CapEx for the year anticipated to be $185 million, including $63 million for maintenance [9][42] Management's Comments on Operating Environment and Future Outlook - Management noted a general softening in the advertising environment, affecting both local and national levels, but does not classify it as a recession [28] - The company revised its full-year AFFO guidance to a range of $7.13 to $7.28 per share, with revenue growth expectations adjusted to approximately 2% [17][22] Other Important Information - The company has a well-laddered debt maturity schedule, with no fixed income maturities until 2028, and a total liquidity of approximately $661 million at the end of the quarter [10][11] - A cash dividend of $1.25 per share was paid in Q2, with a recommendation for the same amount for Q3, subject to Board approval [42][43] Q&A Session Summary Question: What is the outlook for local business given the current economic environment? - Management described the current situation as a general softening rather than a recession, with customers showing hesitancy [28] Question: How significant is the amusement and entertainment category, and could strikes impact it? - This category represents a little over 5% of the business, primarily related to roadside attractions rather than major theatrical releases [29] Question: What are the new expectations for top-line growth for the year? - The new expectation is approximately 2% for the year, with organic growth being flat [66] Question: Could the hesitancy in local spending change if the economy improves? - Management anticipates that if the macroeconomic environment strengthens, local performance could improve [55] Question: What is the impact of programmatic advertising on revenue? - Programmatic advertising has been disappointing, expected to decline by 11% to 12% for the full year, affecting overall revenue growth [45]

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, 2023 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 ...

Lamar Advertising Company (NASDAQ:LAMR) Q1 2023 Earnings Conference Call May 4, 2023 9:00 AM ET Company Participants Sean Reilly - Chief Executive Officer Jay Johnson - Executive Vice President and Chief Financial Officer Conference Call Participants Jason Bazinet - Citi Cameron McVeigh - Morgan Stanley Richard Choe - JPMorgan Operator Please standby, your program is about to begin. Excuse me, everyone, we now have Sean Reilly and Jay Johnson in conference. Please be aware that each of your lines is in a li ...

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 March 31, 2023 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 Ad ...

Lamar Advertising Company (NASDAQ:LAMR) Q4 2022 Earnings Conference Call February 24, 2023 9:00 AM ET Company Participants Sean E. Reilly - CEO Jay L. Johnson - EVP and CFO Conference Call Participants Benjamin Swinburne - Morgan Stanley Jason Bazinet - Citigroup Richard Choe - J.P. Morgan Operator Please standby, your program is about to begin. [Operator Instructions]. 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 ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 __________________________ Form 10-K __________________________ (Mark One) x ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 ¨ 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 Advertising Company _______ ...

Lamar Advertising Company (NASDAQ:LAMR) Q3 2022 Earnings Conference Call November 4, 2022 9:00 AM ET Company Participants Sean Reilly - Chief Executive Officer Jay Johnson - Chief Financial Officer Conference Call Participants Richard Choe - JPMorgan Operator Good evening, everyone. [Operator Instructions] Excuse me, everyone. we now have Sean Reilly and Jay Johnson in conference. [Operator Instructions] In the course of this discussion, Lamar may make forward-looking statements regarding the company, inclu ...