Lamar cuts FY2023 AFFO guidance; Q2 revenue up 4.5% but AFFO per share down 2.1%

LAMAR ADVERTISING CO/NEW

2023-Q2 EPS reported $2.02 revenue$1,012,469,000

Q2 net revenue $541.1M (+4.5% YoY); adjusted EBITDA $253.9M (+4.3%).
Q2 net income $130.9M ($1.28/diluted share) vs $134.2M ($1.32) a year ago.
Diluted AFFO per share fell 2.1% to $1.90 in Q2; six-month AFFO per share $3.32 (-3.2%).
CEO cites slowdown; FY2023 diluted AFFO guidance revised to $7.13-$7.28 per share.
FY2023 net income per diluted share guided to $4.72-$4.80.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

LAMAR ADVERTISING CO/NEW updated its the quarter ended June 30, 2023 guidance (lowered).

Period: the quarter ended June 30, 2023
Guidance: lowered
Result: preliminary results

Exact text from the filing

On August 3, 2023 , Lamar Advertising Company announced via press release its results for the quarter ended June 30, 2023.

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Source: SEC EDGAR

accession 0001628280-23-026994

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