Business
Lamar Advertising Company Announces Fourth Quarter and Year End 2019 Operating Results
Three Month Results Net revenue increased 8.1% to $462.7 millionNet income increased $7.1 million to $102.8 millionAdjusted EBITDA increased 10.4% to $215.6
About this update from Lamar Advertising Company
[{"type":"text","content":"Three Month Results\n Net revenue increased 8.1% to $462.7 millionNet income increased $7.1 million to $102.8 millionAdjusted EBITDA increased 10.4% to $215.6 million Twelve Month Results Net revenue increased 7.8% to $1.75 billionNet income increased 21.9% to $372.1 millionAdjusted EBITDA increased 8.6% to $784.9 million BATON ROUGE, La., Feb. 20, 2020 (GLOBE NEWSWIRE) -- February 20, 2020 - Lamar Advertising Company (Nasdaq: LAMR), a leading owner and operator of outdoor advertising and logo sign displays, announces the Company’s operating results for the fourth quarter ended December 31, 2019. “Looking back on 2019, we had a solid year on both the top and bottom lines, enabling us to finish near the top of our guidance for full year Diluted AFFO per share,” CEO Sean Reilly said. “Looking forward to 2020, our coast-to-coast platform, expanding digital footprint and best-in-class balance sheet, coupled with robust fundamentals in the out-of-home industry, have us well positioned for futher growth in sales, EBITDA and Diluted AFFO per share.” Fourth Quarter Highlights National/Programmatic revenue increased 7.7% Same unit digital revenue increased 4.6% AFFO increased 12.1%Diluted AFFO per share increased 10.8% Fourth Quarter Results Lamar reported net revenues of $462.7 million for the fourth quarter of 2019 versus $427.9 million for the fourth quarter of 2018, an 8.1% increase. Operating income for the fourth quarter of 2019 increased $10.8 million to $141.4 million as compared to $130.6 million for the same period in 2018. Lamar recognized net income of $102.8 million for the fourth quarter of 2019 compared to net income of $95.7 million for same period in 2018. Net income per diluted share was $1.02 and $0.96 for the three months ended December 31, 2019 and 2018, respectively. Adjusted EBITDA for the fourth quarter of 2019 was $215.6 million versus $195.3 million for the fourth quarter of 2018, an increase of 10.4%. Cash flow provided by operating activities was $222.9 million for the three months ended December 31, 2019, an increase of $28.1 million as compared to the same period in 2018. Free cash flow for the fourth quarter of 2019 was $135.3 million as compared to $126.0 million for the same period in 2018, a 7.3% increase. For the fourth quarter of 2019, Funds From Operations, or FFO, was $161.1 million versus $150.8 mil...