---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-23-004953"
form_type: "8-K"
ticker: "LAMR"
cik: "0001090425"
company_name: "LAMAR ADVERTISING CO/NEW"
filed_at: "2023-02-24T23:59:59+00:00"
generated_at: "2026-06-19T00:27:32.740858+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Lamar Q4 revenue $535.5M (+8.3%), AFFO $1.91/sh; FY23 AFFO guidance $7.40-$7.55

## Summary
- Q4 net revenue $535.5M, up 8.3% YoY; adjusted EBITDA $252.3M, up 9.4%.
- Full-year 2022 net revenue $2.03B (+13.7%), net income $438.6M, AFFO per share $7.38 (+12%).
- FY 2023 guidance: diluted AFFO per share $7.40-$7.55, net income per share $5.14-$5.21.
- Board authorized $250M share repurchase and $250M debt repurchase through Sep 2024.
- Completed 73 acquisitions in 2022 for ~$480M, adding 8,200+ displays.

## SEC filing metadata
- accession: 0001628280-23-004953
- form_type: 8-K
- ticker: LAMR
- cik: 0001090425
- company_name: LAMAR ADVERTISING CO/NEW
- filed_at: 2023-02-24T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1090425/000162828023004953/0001628280-23-004953-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1090425/000162828023004953/lamr-20230224.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-23-004953
- JSON: https://secwatch.observer/filing/0001628280-23-004953.json
- Plain text: https://secwatch.observer/filing/0001628280-23-004953.txt

## Key facts
- Earnings Releases
  LAMAR ADVERTISING CO/NEW reported the fourth quarter ended December 31, 2022 results: revenue $535.5 million, net income $66.1 million, EPS $0.65. Guidance initiated.
  - Period: the fourth quarter ended December 31, 2022
  - Revenue: $535.5 million
  - Net income: $66.1 million
  - EPS: $0.65
  - Guidance: initiated
  - Result: reported results
  source text: Lamar reported net revenues of $535.5 million for the fourth quarter of 2022 versus $494.6 million for the fourth quarter of 2021, an 8.3% increase. Operating income for the fourth quarter of 2022 decreased $39.9 million to $110.1 million as compared to $149.9 million for the same period in 2021. Lamar recognized net income of $66.1 million for the fourth quarter of 2022 as compared to net income of $123.3 million for same period in 2021, a decrease of $57.2 million. Net income per diluted share was $0.65 and $1.21 for the three months ended December 31, 2022 and 2021, respectively.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1090425/000162828023004953/0001628280-23-004953-index.htm
- Earnings Releases
  LAMAR ADVERTISING CO/NEW reported the year ended December 31, 2022 results: revenue $2.03 billion, net income $438.6 million, EPS $4.31. Guidance initiated.
  - Period: the year ended December 31, 2022
  - Revenue: $2.03 billion
  - Net income: $438.6 million
  - EPS: $4.31
  - Guidance: initiated
  - Result: reported results
  source text: Lamar reported net revenues of $2.03 billion for the twelve months ended December 31, 2022 versus $1.79 billion for the twelve months ended December 31, 2021, a 13.7% increase. Operating income for the twelve months ended December 31, 2022 increased $56.8 million to $578.0 million as compared to $521.2 million for the same period in 2021. Lamar recognized net income of $438.6 million for the twelve months ended December 31, 2022 as compared to net income of $388.1 million for the same period in 2021, an increase of $50.6 million. Net income per diluted share was $4.31 and $3.83 for the twelve months ended December 31, 2022 and 2021, respectively.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1090425/000162828023004953/0001628280-23-004953-index.htm
- Earnings Releases
  LAMAR ADVERTISING CO/NEW reported fiscal year 2023 results: EPS between $5.14 and $5.21. Guidance initiated.
  - Period: fiscal year 2023
  - EPS: between $5.14 and $5.21
  - Guidance: initiated
  - Result: guidance update
  source text: We expect net income per diluted share for fiscal year 2023 to be between $5.14 and $5.21, with diluted AFFO per share between $7.40 and $7.55.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1090425/000162828023004953/0001628280-23-004953-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.