Business
Lamar Advertising Company Announces Fourth Quarter and Year Ended December 31, 2024 Operating Results
Three Month Results Net revenue was $579.6 millionNet loss was $(1.0) millionAdjusted EBITDA was $278.5 million Twelve Month Results Net revenue was $2.21
About this update from Lamar Advertising Company
[{"type":"text","content":"Three Month Results Net revenue was $579.6 millionNet loss was $(1.0) millionAdjusted EBITDA was $278.5 million Twelve Month Results Net revenue was $2.21 billionNet income was $362.9 millionAdjusted EBITDA was $1.03 billion BATON ROUGE, La., Feb. 20, 2025 (GLOBE NEWSWIRE) -- Lamar Advertising Company (the “Company” or “Lamar”) (Nasdaq: LAMR), a leading owner and operator of outdoor advertising and logo sign displays, announces the Company’s operating results for the fourth quarter and year ended December 31, 2024. \"Our revenue growth accelerated in the fourth quarter, aided by strength in political, local and programmatic. This allowed us to deliver full-year AFFO of $7.99 per share, above the top end of our revised guidance range,\" Lamar chief executive Sean Reilly said. \"For 2025, we anticipate further growth in diluted AFFO, to a range of $8.13 to $8.28 per share.\" Fourth Quarter Highlights Net revenue increased 4.3%Depreciation and amortization increased 233.9%Net income decreased 100.7%Adjusted EBITDA increased 3.9%AFFO increased 5.4% Fourth Quarter Results Lamar reported net revenues of $579.6 million for the fourth quarter of 2024 versus $555.9 million for the fourth quarter of 2023, a 4.3% increase. Operating income for the fourth quarter of 2024 decreased $155.1 million to $36.7 million as compared to $191.7 million for the same period in 2023. Lamar recognized a net loss of $1.0 million for the fourth quarter of 2024 as compared to net income of $149.3 million for same period in 2023, a decrease of $150.3 million. The 100.7% decrease in net income for the fourth quarter of 2024 as compared to the same period in 2023 was primarily related to a revision in the estimate of our asset retirement obligation which resulted in an additional $159.7 million recorded to depreciation and amortization expense in the period. Excluding the effects of this additional expense, net income for the fourth quarter of 2024 increased 6.3% from the same period in 2023. Net (loss) income per diluted share was $(0.01) and $1.46 for the three months ended December 31, 2024 and 2023, respectively. Adjusted EBITDA for the fourth quarter of 2024 was $278.5 million versus $268.2 million for the fourth quarter of 2023, an increase of 3.9%. Cash flow provided by operating activities was $279.3 million for the three months ended December 31, 2024 ...