Lamar Advertising Co ( (LAMR) ) has released its Q3 earnings. Here is a breakdown of the information Lamar Advertising Co presented to its investors.
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Lamar Advertising Company is a leading North American outdoor advertising firm, renowned for its extensive network of billboards and digital displays across the United States and Canada. The company specializes in providing a variety of advertising formats including billboards, transit, and airport advertising.
In its latest earnings report for the third quarter of 2024, Lamar Advertising Company reported steady growth, highlighting an increase in net revenues and net income. The company achieved net revenues of $564.1 million and net income of $147.8 million, demonstrating a consistent rise compared to the same period in the previous year.
Key financial metrics for the quarter include a 4.0% increase in net revenues and a 5.3% rise in net income. The adjusted EBITDA showed a moderate growth of 2.1%, reaching $271.2 million. Additionally, the company reported an impressive 5.7% increase in adjusted funds from operations (AFFO), which reflects improved operational efficiency.
Looking forward, Lamar Advertising Company remains optimistic about its financial trajectory. The management has revised its full-year guidance for diluted AFFO per share to be between $7.85 and $7.95, indicating confidence in continued revenue growth and operational improvements as they move into the fourth quarter.
