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) will participate in Nareit’s REITworld: 2020 Annual Conference on November 17, 2020, at 10:30 am (CT). CEO Sean Reilly and CFO Jay Johnson will present a company overview during this virtual event. The presentation will be accessible via Lamar's Investor Relations webpage.
Founded in 1902, Lamar is a leading outdoor advertising company in North America, managing over 357,500 displays across the U.S. and Canada, including a robust digital billboard network with over 3,600 displays.
Lamar Advertising Company (Nasdaq: LAMR) reported its Q3 2020 results, showing net revenue of $386.1 million, down 15.7% year-over-year. Net income decreased to $62.8 million, with diluted AFFO per share falling 18.5% to $1.32. For the nine months ended September 30, total revenue reached $1.14 billion, marking an 11.7% decline. The company raised its guidance for diluted AFFO per share for FY 2020 to between $4.65 and $4.85 amidst rising advertising revenue.
Lamar Advertising Company (LAMR) will release its third quarter earnings report on November 5, 2020, before market opens. The company will host a conference call at 8:00 a.m. CT the same day to discuss earnings and operational updates. Call-in details include 1-334-777-6991 or 1-800-338-4880 with passcode 65248056. A replay will be available until November 12, 2020, via 1-334-323-0140 or 1-877-919-4059, using passcode 61368192. Investors can also access a live webcast at www.lamar.com.
Lamar Advertising Company (Nasdaq: LAMR) will announce its third quarter earnings report for the period ending September 30, 2020, on November 5, 2020, before market opening. The company will host a conference call at 8:00 a.m. (CT) to discuss financial results and answer questions regarding operations. Details for joining the call include a dial-in number (1-334-777-6991 or 1-800-338-4880) and a passcode (65248056). A replay of the call will be available until November 12, 2020, via the website.
Lamar Advertising Company (NASDAQ: LAMR) announced an exchange offer for its outstanding senior notes totaling $1.55 billion, comprising 3 3/4% notes due 2028, 4 7/8% notes due 2029, and 4% notes due 2030. The notes will be exchanged for newly issued registered securities, complying with registration rights agreements. The exchange offer expires on October 15, 2020. Original notes not exchanged will continue to accrue interest without further registration obligations by Lamar Media, except in limited circumstances. The offer aims to enhance liquidity without raising new capital.
Lamar Advertising Company (Nasdaq: LAMR) is set to participate in a Q&A session at the Goldman Sachs 29th Annual Communacopia Conference on September 16, 2020, at 4:35 p.m. (ET). This session will be broadcast live via an audio webcast on the company’s website and archived for 30 days. Founded in 1902, Lamar is a leading outdoor advertising company in North America, boasting over 385,000 displays across the U.S. and Canada, including more than 3,600 digital billboards.
Lamar Advertising Company (NASDAQ: LAMR) has declared a quarterly cash dividend of $0.50 per share, payable on September 30, 2020, to stockholders of record as of September 21, 2020. This dividend follows a prior payment of $1.00 per share on March 31, 2020, and $0.50 on June 30, 2020. As a REIT, Lamar intends to distribute at least 90% of its 2020 full-year taxable income in dividends. The company will evaluate its fourth-quarter dividend plans at a later date.
Lamar Advertising Company (LAMR) announced a private placement of $150 million in 4% Senior Notes due 2030. This issuance complements the existing $400 million of similar notes issued in February 2020. The offering aims to raise approximately $146.9 million after fees, which will be utilized to redeem $267.5 million of 5% Senior Subordinated Notes due 2023. The closing of the offering is anticipated around August 19, 2020. The notes will be guaranteed by Lamar Media's domestic subsidiaries and are offered under Rule 144A and Regulation S.
Lamar Advertising Company (Nasdaq: LAMR) is raising approximately $150 million through an institutional private placement of additional 4% Senior Notes due 2030, issued by its subsidiary, Lamar Media Corp. The new notes will maintain the same terms as the existing $400 million notes issued earlier this year. Proceeds will be used to redeem $267.5 million of 5% Senior Subordinated Notes due 2023 and for working capital or general corporate purposes. The offering is subject to market conditions.
Lamar Advertising Company (NASDAQ: LAMR) reported a 22.5% decrease in net revenue for Q2 2020, totaling $347.7 million, compared to Q2 2019. Net income also fell by 87% to $31.4 million. Adjusted EBITDA declined 35.9% to $133.2 million. For the first six months, net revenue decreased 9.5% year-over-year, reaching $754.2 million. In response to COVID-19, Lamar enhanced liquidity to $1.1 billion and revised 2020 forecasts, projecting net income per diluted share between $1.55 and $1.93.
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