Lamar Advertising Company (LAMR) Q3 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

In the course of this discussion, Lamar may make forward-looking statements regarding the company, including statements about its future financial performance, strategic goals, plans and objectives, including with respect to the amount and timing of any distributions to stockholders and the impacts and effects of general economic conditions, including inflationary pressures on the company's business, financial condition, and results of operations. All forward-looking statements involve risks uncertainties, and contingencies, many of which are beyond Lamar's control and which may cause actual results to differ materially from anticipated results. Lamar has identified important factors that could cause actual results to differ materially from those discussed in this call in the company's third quarter 2025 earnings release and its most recent annual report on Form 10-K. Lamar refers you to those documents. Lamar's third quarter 2025 earnings release, which contains information regarding Regulation G regarding certain non-GAAP financial measures, was furnished to the SEC on a Form 8K this morning and is available on the Investors section of Lamar's website, www.lamar.com. I would now like to turn the conference over to Sean Riley. Mr. Riley, you may begin. Thank you, Katie. Good morning, all, and welcome to Lamar's Q3 2025 earnings call. For the third quarter, we delivered solid operating results, with consolidated revenue growth improving to 2.9% on an acquisition-adjusted basis, led by national slash programmatic, which had its strongest period of growth since Q2 of 2022. On the local level, a cautious vibe still prevails, and as a result, Q3 looked a lot like the rest of 2025 has, with year-over-year growth in the low single digits. As we noted in the release, we are...