Overview
Lamar Q3 revenue grows 3.8% yr/yr, slightly beating analyst expectations
Adjusted EBITDA for Q3 slightly exceeds analyst estimates
Net income for Q3 decreased 2.5% compared to last year
Outlook
Lamar expects to meet revised full-year diluted AFFO per share guidance
Co sees strength in the holiday season and momentum going into next year, per CEO Sean Reilly
Result Drivers
NATIONAL SALES - Co reports an uptick in national sales as a key driver of Q3 performance
ACQUISITION-ADJUSTED GROWTH - Acquisition-adjusted net revenue increased 2.9% yr/yr, contributing to overall revenue growth
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Revenue | Slight Beat* | $585.54 mln | $583.003 mln (4 Analysts) |
Q3 EPS | $1.40 | ||
Q3 Net Income | $144.08 mln | ||
Q3 Adjusted EBITDA | Slight Beat* | $280.77 mln | $280.14 mln (4 Analysts) |
Q3 Adjusted FFO Per Share | $2.20 | ||
Q3 Free Cash Flow | $189.21 mln |
*Applies to a deviation of less than 1%; not applicable for per-share numbers.
Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 2 "strong buy" or "buy", 5 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the specialized reits peer group is "buy."
Wall Street's median 12-month price target for Lamar Advertising Co is $135.00, about 12.2% above its November 5 closing price of $118.49
The stock recently traded at 20 times the next 12-month earnings vs. a P/E of 21 three months ago
Press Release: ID:nGNX3J3vRy
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)