Welcome to our dedicated page for Lamar Advertising Co news (Ticker: LAMR), a resource for investors and traders seeking the latest updates and insights on Lamar Advertising Co stock.
Lamar Advertising Company (NASDAQ: LAMR), founded in 1902, stands as one of the world's premier outdoor advertising companies. Boasting a vast network of more than 330,000 displays across the United States, Canada, and Puerto Rico, Lamar provides a plethora of advertising formats, including billboards, interstate logos, and transit advertising. This extensive inventory helps both local businesses and national brands reach broad audiences daily.
One of Lamar's key strengths lies in its pioneering digital capabilities. The company offers over 2,800 digital billboards, forming the largest network of such displays in the United States. This digital infrastructure enables dynamic and real-time advertising, enhancing the reach and engagement of campaigns.
Operating as a real estate investment trust (REIT) for U.S. federal income tax purposes, Lamar's primary revenue stream is derived from leasing advertising space on billboards, buses, shelters, benches, logo plates, and airport terminals. These leases are typically short-term agreements, allowing flexibility and responsiveness to market demands. Lamar oversees the entire lifecycle of advertising, from ad copy production to the placement and maintenance of physical advertisements, ensuring high quality and consistency.
The company's revenue is predominantly generated from renting ad space on its static and digital roadside billboards located primarily in states like Pennsylvania and Texas. Lamar's diverse client base encompasses sectors such as restaurants, services, healthcare, and retail, reflecting the comprehensive appeal and effectiveness of its advertising solutions.
Recent achievements include expanding its digital billboard network and forming strategic partnerships to enhance its service offerings. These endeavors position Lamar at the forefront of the outdoor advertising industry, continually adapting to technological advancements and market trends.
For more information, please visit Lamar's website or contact them at hello@lamar.com.
Lamar Advertising Company (NASDAQ: LAMR) released year-end federal income tax reporting details for its 2021 distributions on Class A and Class B common stock. The information, presented on a per share basis, is intended to assist stockholders in understanding the tax implications of their earnings. Key distribution dates include March 31, June 30, September 30, and December 30, 2021, with varying amounts classified as ordinary and qualified dividends. Stockholders are advised to consult tax professionals regarding their specific tax situations.
Lamar Advertising Company (Nasdaq: LAMR) has declared a cash dividend of $1.00 per share and a special cash dividend of $0.50 per share, both payable on December 30, 2021. Shareholders of record for the Class A and Class B common stock will be recognized on December 20, 2021. Founded in 1902, Lamar is one of North America's largest outdoor advertising companies, operating over 352,000 displays across the U.S. and Canada, including approximately 3,800 digital billboards.
Lamar Advertising Company (NASDAQ: LAMR) has acquired Colossal Media, a prominent operator of hand-painted wall displays. Colossal operates 81 large-format displays across key U.S. cities, including New York and Los Angeles. CEO Kelly Peppers will continue to lead Colossal, which will retain its brand under Lamar. The acquisition aims to leverage Lamar's resources to enhance Colossal's growth while maintaining its artistic commitment. The purchase price was not disclosed, but it positions Colossal for a promising future in creative advertising.
Lamar Advertising Company (Nasdaq: LAMR) reported robust Q3 2021 results, with net revenue of $476.9 million, marking a 23.5% increase year-over-year. Net income rose to $106.8 million, a significant gain from $62.8 million in Q3 2020. The adjusted EBITDA was $230.7 million, reflecting a 35.2% increase. For the first nine months, net revenue reached $1.29 billion, a 13.4% rise. The company raised its full-year diluted AFFO guidance to between $6.35 and $6.50 per share, emphasizing a strong recovery in the advertising market.
Lamar Advertising Company (NASDAQ: LAMR) will announce its third quarter earnings for the period ending September 30, 2021, on November 3, 2021, before market opening. A conference call will be held the same day at 8:00 a.m. Central time to discuss financial results and address operational inquiries. Interested participants can join by calling 1-334-777-6991 or 1-800-338-4880 with the passcode 36341506. A live webcast will also be available at www.lamar.com.
Lamar Advertising Company (Nasdaq: LAMR) has announced the extension of its stock and debt repurchase programs, allowing up to $250 million in Class A common stock and $250 million in senior notes buybacks. Initially set to expire on September 30, 2021, these programs are now extended through March 31, 2023. No repurchases have been made under the current programs, which provide flexibility based on market conditions.
Lamar Advertising Company (Nasdaq: LAMR) has announced a quarterly cash dividend of $1.00 per share, payable on September 30, 2021, to shareholders of record on September 20, 2021. This reflects the company's ongoing commitment to returning value to shareholders. Established in 1902, Lamar is one of North America's largest outdoor advertising firms, boasting approximately 352,000 displays across the U.S. and Canada. The company also operates the largest network of digital billboards in the U.S., with over 3,700 digital displays.
Lamar Advertising Company (NASDAQ: LAMR) reported strong financial results for Q2 2021, with net revenue of $445.1 million, up 28.0% from Q2 2020. Net income surged to $119.6 million, reflecting an increase of $88.2 million. Adjusted EBITDA rose by 60.3% to $213.5 million. For the first half of the year, net revenue reached $815.9 million, up 8.2%, and net income was $157.9 million. Management raised the guidance for diluted AFFO per share to $6.10-$6.30 and proposed a quarterly dividend increase to $1.00 per share.
Lamar Advertising Company (NASDAQ: LAMR) announced an exchange offer for all $550 million of its outstanding 3 5/8% Senior Notes due 2031. The Original Notes will be exchanged for newly issued Exchange Notes that are registered under the Securities Act, facilitating their transferability. The exchange aims to fulfill obligations under a registration rights agreement and will not yield any proceeds for Lamar Media. The deadline for tendering Original Notes is September 1, 2021.
Lamar Advertising Company (Nasdaq: LAMR) announced the appointment of Sukhvinder Singh as Senior Vice President of Technology and Innovation. Previously with Host Hotels & Resorts, Singh will oversee the integration of technology into operations to enhance productivity and customer engagement. CEO Sean Reilly emphasized the importance of innovation and Singh's experience in driving insights and growth, particularly in programmatic advertising. Lamar, founded in 1902, operates over 351,000 displays across North America, including the largest network of digital billboards.
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