Lamar Q3 net revenues $585.5M (+3.8% YoY), AFFO per share $2.20, guidance on track

LAMAR ADVERTISING CO/NEW

2025-Q3 EPS reported $4.27 revenue$1,670,282,000

Net revenues $585.5M (+3.8% YoY); net income $144.1M (-2.5% YoY); diluted EPS $1.40 vs $1.44.
Adjusted EBITDA $280.8M (+3.5% YoY); AFFO $226.5M (+2.6% YoY).
Diluted AFFO per share $2.20 (+2.3%); full-year AFFO per share guidance reaffirmed on track.
Recent refinancing: $700M Term B loans (maturity 2032) and $400M 5.375% Senior Notes due 2033.
Total liquidity $834.2M at Sep 30, 2025; no revolver borrowings outstanding.

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