Earnings summaries and quarterly performance for LAMAR ADVERTISING CO/NEW.
Executive leadership at LAMAR ADVERTISING CO/NEW.
Board of directors at LAMAR ADVERTISING CO/NEW.
AR
Anna Reilly
Detailed
Director
ET
Elizabeth Thompson
Detailed
Director
JE
John E. Koerner, III
Detailed
Director
MA
Marshall A. Loeb
Detailed
Director
ML
Mitch Landrieu
Detailed
Director
NF
Nancy Fletcher
Detailed
Director
SP
Stephen P. Mumblow
Detailed
Director
TV
Thomas V. Reifenheiser
Detailed
Director
WR
Wendell Reilly
Detailed
Director
Research analysts who have asked questions during LAMAR ADVERTISING CO/NEW earnings calls.
Cameron McVeigh
Morgan Stanley
7 questions for LAMR
Also covers: CCO, EQIX, IPG +4 more
Daniel Osley
Wells Fargo
7 questions for LAMR
Also covers: CCO, OUT
DK
David Karnovsky
JPMorgan Chase & Co.
7 questions for LAMR
Also covers: CCO, CNK, DIS +19 more
Jason Bazinet
Citigroup
6 questions for LAMR
Also covers: APP, CTV, DIS +20 more
JN
Jonathan Navarrete
TD Bank
2 questions for LAMR
Also covers: OUT
JN
Jonnathan Navarrete
Northland Capital Markets
2 questions for LAMR
Also covers: BALY, CCO, DLX +2 more
LV
Lance Vitanza
TD Cowen
2 questions for LAMR
Also covers: CCO, CODI, DLX +6 more
Recent press releases and 8-K filings for LAMR.
Lamar Advertising Company Discusses 2026 Outlook and Strategic Priorities
LAMR
Guidance Update
New Projects/Investments
M&A
- Lamar Advertising Company provided 2026 guidance for 3.5% acquisition-adjusted growth and 4% AFFO per share growth, with management indicating this guidance is conservative due to stronger pacings and potential for higher political ad spend.
- The company's ERP project is set to go live in August 2026, projected to deliver a 0.5% margin enhancement starting in 2027 and aiming for over 48% consolidated margin by 2028.
- Key revenue tailwinds for 2026 include a resurgence in national advertising, particularly from insurance and auto, and significant potential from the pharma vertical due to FDA disclaimer rule changes. Political ad spend is conservatively guided to $12-$14 million for 2026 over 2025, and the World Cup is expected to bring over $3 million in incremental revenue.
- Lamar plans to allocate capital primarily to digital conversions (
$65 million), tuck-in acquisitions ($150-$200 million), and purchasing land under billboards ($20 million budgeted, with a desire to increase).
8 days ago
Lamar Advertising Provides Optimistic 2026 Outlook and Strategic Priorities
LAMR
Guidance Update
New Projects/Investments
M&A
- Lamar Advertising projects 3.5% acquisition-adjusted growth and 4% AFFO per share growth for 2026, with management indicating this guidance is conservative due to strong pacings and tailwinds from national advertising and political spend.
- The company's ERP project, going live in August 2026, is expected to drive a 0.5% margin enhancement starting in 2027-2028, with a target of over 48% consolidated margin by 2028.
- National advertising, particularly from insurance, auto insurance, and pharma, is experiencing a strong resurgence, while programmatic advertising, the fastest-growing channel, is projected to grow around 10% in 2026.
- Capital allocation for 2026 prioritizes $65 million for digital conversions, $150-$200 million for tuck-in acquisitions, and $20 million for land purchases, alongside increasing its REIT distribution.
- Lamar anticipates ~$200 million in cash for assets acquisitions in 2026 and views the broader out-of-home industry as moving towards increased digitalization and programmatic buying, which is expected to boost revenues.
8 days ago
Lamar Advertising Provides 2026 Outlook and Strategic Priorities
LAMR
Guidance Update
New Projects/Investments
M&A
- Lamar Advertising projects 3.5% acquisition-adjusted growth and 4% AFFO per share growth for 2026, with CEO Sean Reilly indicating this guidance is conservative due to strong pacings and tailwinds from national and political advertising.
- The company's ERP project is scheduled for completion in August 2026, anticipated to deliver a 0.5% margin enhancement by 2027-2028 and contribute to a consolidated margin exceeding 48% by 2028.
- National advertising is experiencing a resurgence, notably in the insurance and pharmaceutical sectors, with a significant pharma buy in Q4 and a recommitment for Q2, partly driven by the FDA disclaimer rule.
- Lamar's capital allocation priorities for 2026 include $65 million for digital conversions, an anticipated $150-$200 million for tuck-in acquisitions (with over $40 million already completed), and $20 million budgeted for purchasing land under billboards.
8 days ago
LAMAR ADVERTISING CO/NEW Discusses Strong 2025 Finish, 2026 Growth Drivers, and ERP Completion
LAMR
Guidance Update
New Projects/Investments
M&A
- Lamar finished 2025 strong, with December revenue up 6% and EBITDA up 13.5%, contributing an additional $0.07 of AFFO per share, and anticipates 3.5% growth in 2026, primarily driven by rate increases and tailwinds from political advertising and the FIFA World Cup.
- The company is completing its $50 million ERP program in 2026, with $3 million in OpEx and $6 million in CapEx remaining, expecting a 0.5% uptick in consolidated margins (approximately $12 million annually) starting in 2027, and plans to integrate AI for enhanced efficiency.
- Lamar completed approximately $300 million in acquisitions in 2025 and expects to approach $200 million in cash acquisitions in 2026, along with potential UPREIT deals, leveraging its unique ability to execute such transactions.
- A new pharma vertical emerged in Q4 2025, driven by regulatory changes and geofencing, providing a significant tailwind for 2026. Programmatic advertising, despite higher costs, delivers higher CPMs due to precise targeting and data.
Mar 2, 2026, 12:30 PM
Lamar Advertising Company Discusses 2026 Outlook, ERP Project, and Competitive Advantages
LAMR
Guidance Update
New Projects/Investments
M&A
- Lamar Advertising Company (LAMR) anticipates 2026 to benefit from several tailwinds, including a 0.5% pro forma growth from political advertising, contributions from $300 million in highly accretive acquisitions made in 2025, over $3 million in FIFA World Cup-related contracts, and continued growth from a new pharma vertical.
- The company is completing a $50 million ERP project in 2026, which is projected to yield a conservative 0.5% uptick in consolidated margins, equating to approximately $12 million annually, starting in 2027. This project aims to enhance sales and operational efficiency and facilitate AI integration.
- LAMR benefits from a significant competitive moat due to stringent regulations limiting new billboard construction and holds dominant market shares exceeding 80% in its operational areas. The company views inflation favorably, as its average six-month contract length allows for frequent rate adjustments, with 2026 growth expected to be primarily rate-driven, targeting 3.5% growth in a 3% inflationary GDP environment.
- In 2025, LAMR achieved approximately 2% revenue growth, below initial expectations, but concluded the year strongly with December revenue up 6% and EBITDA up 13.5%, ultimately reaching the top end of its original guidance.
Mar 2, 2026, 12:30 PM
Lamar Advertising Company Discusses Strong 2025 Finish, 2026 Outlook, and Strategic Investments
LAMR
Guidance Update
New Projects/Investments
M&A
- Lamar Advertising Company (LAMR) reported a strong finish to 2025, with December revenue up 6% and EBITDA up 13.5%, contributing $0.07 of AFFO per share.
- The company anticipates 2026 tailwinds from political advertising (approximately 0.5% pro forma growth) and over $3 million in FIFA World Cup-related contracts.
- LAMR completed $300 million in acquisitions in 2025 and expects to approach $200 million in cash acquisitions in 2026, with additional potential UPREIT deals, leveraging its competitive advantage as the only industry player capable of UPREIT transactions.
- The company is completing a $50 million ERP program in 2026 (with $3 million OpEx and $6 million CapEx remaining), projected to increase consolidated margins by 0.5% (approximately $12 million annually) by 2027.
- LAMR views inflation as beneficial due to its six-month average contract length, enabling frequent rate adjustments, and expects 2026 growth to be primarily rate-driven, targeting around 3.5%.
Mar 2, 2026, 12:30 PM
Lamar Advertising Company Declares Dividend and Extends Repurchase Programs
LAMR
Dividends
Share Buyback
Debt Issuance
- Lamar Advertising Company's board of directors declared a quarterly cash dividend of $1.60 per share payable on March 31, 2026, with aggregate quarterly distributions in 2026 expected to total at least $6.40 per common share.
- The company extended its stock repurchase program through September 30, 2027, authorizing the repurchase of up to an additional $250 million of Class A common stock, with $250 million remaining from an overall $400 million program.
- The debt repurchase program was also extended through September 30, 2027, allowing for the repurchase of up to $250 million of outstanding senior notes and other indebtedness, with no repurchases made under this program as of the document date.
Feb 26, 2026, 9:33 PM
Lamar Advertising Company Declares Dividend and Extends Repurchase Programs
LAMR
Dividends
Share Buyback
- Lamar Advertising Company declared a quarterly cash dividend of $1.60 per share payable on March 31, 2026, to stockholders of record on March 16, 2026.
- The company expects aggregate quarterly distributions to stockholders in 2026 to total at least $6.40 per common share.
- The existing stock repurchase program, with $250 million remaining for future repurchases, and the debt repurchase program, for up to $250 million, have both been extended through September 30, 2027.
Feb 26, 2026, 9:15 PM
Lamar Advertising Reports Strong Q4 2025 Results and Provides Optimistic 2026 Guidance
LAMR
Earnings
Guidance Update
M&A
- Lamar Advertising reported strong Q4 2025 results, with diluted AFFO per share increasing 1.4% to $2.24 and Adjusted EBITDA growing 3.7% to $288.9 million. For the full year 2025, diluted AFFO per share reached $8.26, exceeding the top end of their revised guidance.
- For 2026, the company provided full-year AFFO guidance of $8.50 to $8.70 per share, representing 4.1% year-over-year growth at the midpoint, with anticipated acquisition-adjusted revenue growth of approximately 3.5% and consolidated operating margins projected to exceed 47%.
- Lamar was active in M&A, completing 13 acquisitions for $57 million in Q4 2025, totaling 50 acquisitions for $191 million for the full year. The company expects another active M&A year in 2026, targeting at least $200 million in cash acquisitions, having already completed 7 acquisitions for $40 million since January 1, 2026.
- Digital billboards continue to drive growth, with 111 new units added in Q4 2025, bringing the total to 5,553 operating units, and digital revenue increasing 3.7% on a same-store basis. Digital revenue constituted 33.7% of the company's business in Q4 2025.
- Looking ahead, Lamar anticipates political advertising to be a tailwind in 2026, expecting an incremental $12 million-$14 million in revenue, and projects an additional $3 million-$4 million from World Cup-related business.
Feb 20, 2026, 2:00 PM
Lamar Advertising Co/New Reports Strong Q4 and Full-Year 2025 Results, Issues Positive 2026 Guidance
LAMR
Earnings
Guidance Update
M&A
- Lamar Advertising Co/New exceeded its revised full-year AFFO guidance for 2025, achieving $8.26 per share.
- In Q4 2025, the company reported acquisition-adjusted revenue growth of over 4% (excluding political) and a 1.4% increase in diluted AFFO per share to $2.24.
- For 2026, Lamar provided full-year AFFO guidance of $8.50 to $8.70 per share, representing 4.1% growth at the midpoint, and projects 3.5% acquisition-adjusted revenue growth.
- The company plans continued active M&A, targeting at least $200 million in cash acquisitions for 2026, and will maintain its pace of digital billboard deployments.
- Lamar maintains a strong financial position, ending 2025 with $800 million in total liquidity and a low total leverage of 2.92x net debt to EBITDA.
Feb 20, 2026, 2:00 PM
Quarterly earnings call transcripts for LAMAR ADVERTISING CO/NEW.
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