Lamar Advertising Q1 revenue up 5.7%, raises full-year AFFO guidance

LAMAR ADVERTISING CO/NEW

2024-Q1 EPS reported $0.76 revenue$498,150,000

Net revenue $498.2M (+5.7% YoY); net income $78.5M vs $76.2M.
Adjusted EBITDA $211.9M (+7.1%); diluted AFFO per share $1.54 (+9.2%).
Full-year 2024 diluted AFFO guidance raised to $7.75-$7.90 per share.
CEO Sean Reilly cites local sales strength and return to same-store digital growth.
Free cash flow $138.7M (+22.4%); total liquidity $634.8M at quarter end.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

LAMAR ADVERTISING CO/NEW reported fiscal year 2024 results: EPS $4.95 to $5.01. Guidance raised.

Period: fiscal year 2024
EPS: $4.95 to $5.01
Guidance: raised
Result: guidance update

Exact text from the filing

We are updating our 2024 guidance issued in February 2024. We now expect net income per diluted share for fiscal year 2024 to be between $4.95 and $5.01, with diluted AFFO per share between $7.75 and $7.90.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

LAMAR ADVERTISING CO/NEW reported three months ended March 31, 2024 results: revenue $498.2 million, net income $78.5 million, EPS $0.76.

Period: three months ended March 31, 2024
Revenue: $498.2 million
Net income: $78.5 million
EPS: $0.76
Result: reported results

Exact text from the filing

Lamar reported net revenues of $498.2 million for the first quarter of 2024 versus $471.3 million for the first quarter of 2023, a 5.7% increase. Operating income for the first quarter of 2024 increased $5.8 million to $124.6 million as compared to $118.8 million for the same period in 2023. Lamar recognized net income of $78.5 million for the first quarter of 2024 as compared to net income of $76.2 million for the same period in 2023, an increase of $2.3 million. Net income per diluted share was $0.76 and $0.74 for the three months ended March 31, 2024 and 2023, respectively.

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Source: SEC EDGAR

accession 0001628280-24-019751

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