LAMR
Lamar Advertising Company128.45
+1.49+1.17%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
M&A goal $200M+, tailwinds quantified
Q&A largely reaffirmed prepared remarks but added color on M&A, targeting at least $200 million in cash deals like last year, with seller multiples in mid-teens yielding 10-11% post-synergies. Political tailwind quantified at $12-14 million incremental over 2025, plus $3-4 million from World Cup venues. Q1 growth may trail guidance before picking up, driven by late-breaking political. OpEx at 3% reflects health insurance inflation and moderating ERP costs. Pharma optimism deepened with FDA disclosure changes and Crossix attribution data. Clear Channel's sale unlikely to spur asset sales. Q&A adds no contradictions. Investors watch M&A pace.
Key Stats
Market Cap
13.01BP/E (TTM)
30.22Basic EPS (TTM)
4.25Dividend Yield
0.05%Recent Filings
8-K
Dividend declared, repurchases extended
Lamar Advertising declared a $1.60 quarterly dividend per share, payable March 31 to March 16 record holders, signaling steady cash returns. Its board extended stock and debt repurchase programs—$250M each available—through September 30, 2027, after prior $150M stock buybacks. Programs flex with markets. No debt repurchases yet.
10-K
FY2025 results
Lamar Advertising posted FY2025 net revenues of $2.27B, up 2.7% y/y, driven by billboard gains of $57.7M while transit dipped $3.7M; acquisition-adjusted growth was 2.1%. Operating income soared 45% to $774M after depreciation fell $137M from prior ARO revisions. Q4 momentum showed in $191M tuck-in buys including Verde Outdoor's 1,500 faces, $181M capex (half digital), and $864M operating cash flow funding $656M dividends at $6.45/share and $150M buybacks. Debt stands at $3.42B with $742M revolver room, yet $807M liquidity. Seven logo contracts expire 2026.
8-K
Q4 revenue up 2.8%
Lamar Advertising posted Q4 net revenues of $595.9 million, up 2.8%, and full-year $2.27 billion, up 2.7%, with Adjusted EBITDA rising 3.7% to $288.9 million quarterly and 2.4% to $1.06 billion annually. Net income swung to $154.7 million from a $1.0 million loss, boosted by normalized depreciation. Momentum carries into 2026. Guides 2026 AFFO per share $8.50-$8.70.
8-K
Dividends declared: $1.55 quarterly, $0.25 special
Lamar Advertising declared a quarterly cash dividend of $1.55 per share and a special $0.25 per share dividend on December 11, 2025, payable December 31 to record holders on December 22. Both apply to Class A and B common stock. Dividends signal board confidence. Forward-looking statements note potential variances from risks in SEC filings.
10-Q
Q3 FY2025 results
Lamar Advertising posted Q3 revenue of $585.5M, up 3.8% y/y from $564.1M, with billboard up $22.2M y/y while transit dipped $2.3M; operating income edged to $189.1M from $186.6M despite higher depreciation. YTD revenue climbed 2.6% y/y to $1.67B, operating income surged 17% to $578.0M on $76.1M gains including Vistar sale, diluted EPS $4.27 on 101.7M shares. Closed Verde Outdoor July 2025 for $147.6M (Common Units), recognizing $76.0M goodwill; $133.9M cash tuck-ins. Cash fell to $22.0M, FCF $475.0M (derived); $3.3B debt with $742M revolver availability, ratios compliant. Steady cash covers ops.
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