Core Insights - Lamar Advertising Company has completed its first-ever UPREIT transaction in the billboard industry by acquiring Verde Outdoor's assets [1][5] - The acquisition adds over 1,500 billboard faces, including 80 digital displays, across 10 states, enhancing Lamar's market presence in the Midwest, Southeast, and Mid-Atlantic regions [2] Company Overview - Verde Outdoor was established in 2021 and has rapidly expanded through strategic acquisitions and organic development, particularly in Sioux City, Charleston, Savannah, Hudson Valley, and the Mid-Atlantic [3] - The transaction involved Verde contributing its assets to Lamar Advertising Limited Partnership, with Verde's owners receiving common units of Lamar LP that track the value of Lamar's Class A common stock [4] Transaction Structure - The UPREIT structure allows Lamar to issue partnership units to billboard owners on a tax-deferred basis, facilitating acquisitions [5] - The CEO of Lamar highlighted the significance of this deal and expressed optimism about using the UPREIT structure for future acquisitions [6]

Key Takeaways LAMR shares climbed 18.4% in three months, outpacing the industry growth of 10.1%. The expansion of digital billboards and recent acquisitions support long-term growth. Five-year annualized dividend growth of 24.17% and active buybacks lift investor confidence.Lamar Advertising (LAMR) shares have risen 18.4% in the past three months compared with its industry’s growth of 10.1%.The company’s impressive footprint of outdoor advertising assets across the United States and Canada positions it we ...

Group 1 - Clear Channel Outdoor (CCO) has launched a summer campaign to address childhood hunger in the U.S., partnering with No Kid Hungry to encourage public donations [1][3] - An estimated 1 in 5 children in the U.S., nearly 14 million, are living with hunger, highlighting the critical need for summer meal programs [1][3] - CCO's digital billboards will also promote NoKidHungry.org/Help, providing resources for families to access free summer meals [2] Group 2 - CCO is collaborating with the National Summer Learning Association (NSLA) to promote affordable summer learning opportunities for children, as nearly half of U.S. children lack such opportunities [3][4] - The campaign will coincide with National Summer Learning Week, emphasizing the importance of summer learning in closing the opportunity gap [4] - CCO's efforts aim to connect families with vital resources that support children's health and education during the summer months [5] Group 3 - Clear Channel Outdoor Holdings, Inc. is a leader in the out-of-home advertising industry, focusing on innovation through digital billboards and data analytics [6]

Group 1 - Lamar Advertising Company declared a quarterly cash dividend of $1.55 per share, payable on June 30, 2025, to stockholders of record on June 16, 2025, with expected total distributions of at least $6.20 per common share in 2025 [1][2] - The company completed $150 million in stock repurchases under its existing program and has increased the stock repurchase program by an additional $150 million, bringing the total available for repurchase to $250 million [2] Group 2 - Lamar Advertising Company, founded in 1902, is one of the largest outdoor advertising companies in North America, operating over 363,000 displays across the United States and Canada [4] - The company offers a variety of advertising formats, including billboards, interstate logos, transit, and airport advertising, and has the largest network of digital billboards in the U.S. with approximately 5,100 displays [4]

Summary of Lamar Advertising Company (LAMR) FY Conference Call - May 13, 2025 Company Overview - **Company**: Lamar Advertising Company (LAMR) - **Industry**: Advertising, specifically Out-of-Home (OOH) advertising Key Points and Arguments Market Conditions - The mood at the OAAA Industry Conference was constructive, with no signs of trouble in the market [1] - Q1 results showed organic growth of just over 1%, with business strong enough to maintain guidance [2][3] - 75% of revenue is already under contract, typical for this time of year [3] Financial Performance - The company expects to achieve its goals for the year, with organic growth outlook remaining around 3% [4][5] - The impact of events like the Super Bowl and leap year was material, particularly affecting the Southwest region, which saw a 1% decline [9][10] - Political advertising is expected to contribute approximately $15 million in the second half of the year [11] Economic Outlook - Historical performance during garden variety recessions indicates that Lamar typically holds the line on rates and experiences only minor occupancy declines [14][15] - Current pacings suggest a steady year ahead, with no significant downturn anticipated [15] Sector Insights - Local auto dealers are adapting to inventory issues by shifting advertising focus from new car sales to service promotions [16][18] - Retail advertising saw a 6% increase in Q1, but potential tariff impacts on inventory are being monitored closely [19] - Legal services remain a strong vertical, accounting for about 10% of revenue, with a stable customer base [21][22] Competitive Landscape - Lamar is gaining market share from local TV and radio, with a noted shift in advertising dollars towards billboards [24][27] - National advertising has been slightly underperforming, attributed to changes in agency strategies [28][29] Programmatic Advertising - Programmatic advertising is expected to exceed $50 million in 2025, with a 30% increase in Q1 [33] - The company is testing programmatic on the local side, driven by demand from more sophisticated local customers [37] Digital Conversion and CapEx - Lamar plans to convert over 350 boards to digital in 2025, with consistent returns historically between 25% to low 30% [45] - The pace of conversions is primarily governed by regulatory permitting [46] M&A Activity - The company has completed $70 million in acquisitions and expects to surpass $200 million this year, driven by pent-up demand [54] - Acquisitions typically yield high margins, with forward multiples expected to be in the 10 to 11 range post-synergies [56] Capital Allocation - Lamar is focused on digital conversions, acquisitions, and purchasing land under billboards, with a projected $20 million for easements this year [62][63] Share Repurchase Program - A $150 million share repurchase program was initiated to avoid dilution from acquisitions, executed at an average price of $108 [68][70] Transit and Airport Business - Transit revenue is stable, primarily from bus wraps, while airport business remains steady despite potential impacts from international travel [71][73] - Combined revenue from transit and airport operations is approximately $160 million, contributing around 15-17% EBITDA margins [74] Additional Important Insights - The company is navigating minor cost increases due to tariffs but does not anticipate significant supply chain issues [51][53] - The recent sale of a 20% stake in Vistar to T-Mobile is expected to enhance outdoor measurement and attribution capabilities [39][40] This summary encapsulates the key insights and financial outlook for Lamar Advertising Company as discussed in the conference call, highlighting the company's resilience and strategic focus in the advertising industry.

Core Viewpoint - Lamar Advertising Company has acquired Premier Outdoor Media's assets, enhancing its presence in the Northeast Corridor and expanding its digital out-of-home (OOH) advertising capabilities [1][3][4]. Company Overview - Lamar Advertising Company is a leader in the OOH advertising industry, operating over 360,000 displays across North America, including approximately 5,000 digital billboards, making it the largest digital OOH network in the United States [4]. - Premier Outdoor Media, founded in 2018, became the largest independent digital OOH network in the Philadelphia Designated Market Area, growing its digital display count by over 500% under the leadership of Dominick Vastino and Sean Corbett [2][4]. Strategic Acquisition - The acquisition adds nearly 200 billboard faces, including 45 digital units, in key markets such as New Jersey, Delaware, Maryland, Pennsylvania, and New York, reinforcing Lamar's competitive edge in densely populated areas [1][3]. - Sean Reilly, CEO of Lamar, emphasized that this acquisition aligns with the company's strategy of adding high-quality, REIT-qualified assets to its portfolio [3]. Market Position and Growth Strategy - The transaction reflects Lamar's focus on scaling its digital OOH capabilities and acquiring regionally dominant networks that align with its REIT structure [4]. - As digital OOH continues to grow faster than traditional media, Lamar's expanded presence in the Northeast positions it to capture increasing advertiser demand [5]. Financial Outlook - Lamar is scheduled to report its first-quarter 2025 results on May 8, 2025, with the Zacks Consensus Estimate for funds from operations (FFO) per share at $1.54 on revenues of $508.9 million [5].

Founded in 1902, Lamar Advertising Company (Nasdaq: LAMR) is one of the largest outdoor advertising companies in North America, with over 360,000 displays across the United States and Canada. Lamar offers advertisers a variety of billboard, interstate logo, transit and airport advertising formats, helping both local businesses and national brands reach broad audiences every day. In addition to its more traditional out-of- home inventory, Lamar is proud to offer its customers the largest network of digital b ...

Clear Channel Outdoor Holdings 2025 First Quarter Results May 1, 2025 Safe harbor statement and other information Forward-Looking Statements Segment Adjusted EBITDA is the profitability metric reported to the Company's chief operating decision maker (the Company's President and Chief Executive Officer) for purposes of allocating resources and assessing segment performance. Segment Adjusted EBITDA is a GAAP financial measure calculated as Revenue less Direct operating expenses and SG&A expenses, excluding re ...