Key Takeaways Local and regional sales made up 79% of Lamar's Q2 2025 billboard revenues, rising for 17 quarters.Lamar operates 5,200+ digital billboards and invested $87.1M in acquisitions in the first half of 2025.High debt of $3.38B, stiff media competition and cautious advertisers pressure Lamar's growth.Lamar Advertising Company (LAMR) holds a significant market share in the U.S. outdoor advertising business. Its diversified tenant base, opportunistic acquisitions and efforts to upgrade its portfolio a ...

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].