Lamar Advertising (NASDAQ:LAMR) Announces Earnings Results

by · The Markets Daily

Lamar Advertising (NASDAQ:LAMR – Get Free Report) released its quarterly earnings results on Friday. The real estate investment trust reported $1.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.18 by ($0.68), FiscalAI reports. The firm had revenue of $595.93 million for the quarter, compared to analysts’ expectations of $592.70 million. Lamar Advertising had a return on equity of 43.02% and a net margin of 19.27%. Lamar Advertising updated its FY 2026 guidance to 5.720-5.830 EPS.

Here are the key takeaways from Lamar Advertising’s conference call:

  • Full-year AFFO guidance of $8.50–$8.70 per share (midpoint ~4.1% AFFO/share growth) implying ~3.5% acquisition‑adjusted revenue growth and consolidated operating margins of over 47%, the highest in company history.
  • Q4 momentum continued into 2026 with acquisition‑adjusted revenue up >4% (ex‑political), programmatic up ~19%, and digital now representing 31.6% of revenues after adding 111 digital units in Q4 (5,553 total), with similar internal digital deployment plans for 2026.
  • Active M&A posture — 50 acquisitions in 2025 for $191M (including the Verde UPREIT), 7 deals YTD (~$40M), and management expects to deploy roughly the same ~$200M of cash acquisitions in 2026 with effective post‑synergy economics (~10–11x for Lamar).
  • Expense pressures persist as operating expenses are expected to grow ~3% in 2026 driven partly by healthcare inflation and ERP-related costs, with maintenance CapEx budgeted at about $64M (total 2025 CapEx was $180.8M).
  • Strong balance sheet and shareholder return optionality with ~$800M liquidity, total debt of ~$3.4B, net leverage ~2.92x, investment capacity >$1B, and a proposed Q1 dividend of $1.60 (annualized $6.40, ~4.8% yield).

Lamar Advertising Stock Performance

Shares of LAMR stock traded up $1.15 during trading hours on Friday, reaching $133.98. The stock had a trading volume of 1,156,728 shares, compared to its average volume of 496,546. The firm has a market capitalization of $13.57 billion, a PE ratio of 31.45 and a beta of 1.23. The firm has a 50-day simple moving average of $129.19 and a 200-day simple moving average of $126.15. Lamar Advertising has a twelve month low of $99.84 and a twelve month high of $136.69. The company has a debt-to-equity ratio of 3.04, a current ratio of 0.59 and a quick ratio of 0.59.

Lamar Advertising Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Monday, December 22nd were given a dividend of $1.55 per share. The ex-dividend date was Monday, December 22nd. This represents a $6.20 annualized dividend and a dividend yield of 4.6%. Lamar Advertising’s dividend payout ratio is currently 145.54%.

Analyst Ratings Changes

LAMR has been the subject of a number of research analyst reports. Morgan Stanley set a $140.00 price target on shares of Lamar Advertising in a research note on Tuesday, December 16th. Weiss Ratings restated a “hold (c+)” rating on shares of Lamar Advertising in a research note on Monday, December 29th. Citigroup increased their price target on shares of Lamar Advertising from $135.00 to $145.00 and gave the stock a “buy” rating in a research report on Thursday, November 13th. Finally, JPMorgan Chase & Co. boosted their price objective on Lamar Advertising from $122.00 to $128.00 and gave the company a “neutral” rating in a report on Wednesday, November 12th. One analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $133.00.

Read Our Latest Stock Analysis on LAMR

Institutional Investors Weigh In On Lamar Advertising

Several large investors have recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd acquired a new stake in Lamar Advertising in the third quarter worth approximately $33,000. Measured Wealth Private Client Group LLC bought a new stake in shares of Lamar Advertising in the 3rd quarter worth $39,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in shares of Lamar Advertising in the 4th quarter worth $41,000. Los Angeles Capital Management LLC bought a new position in Lamar Advertising during the fourth quarter valued at about $49,000. Finally, Kelleher Financial Advisors acquired a new position in Lamar Advertising during the third quarter worth about $66,000. Institutional investors and hedge funds own 93.78% of the company’s stock.

Key Stories Impacting Lamar Advertising

Here are the key news stories impacting Lamar Advertising this week:

  • Positive Sentiment: Operational momentum: Q4 net revenues rose 2.8% to $595.9M, adjusted EBITDA increased 3.7% and management said local and national sales showed momentum into 2026 — supports organic revenue/EBITDA stability. GlobeNewswire Release
  • Positive Sentiment: FFO/AFFO resilience: Q4 diluted AFFO per share rose to $2.24 (FFO/AFFO roughly in line or beating some estimates), indicating REIT cash metrics held up despite tougher comps. Zacks FFO Note
  • Neutral Sentiment: Readouts and transcripts: Management held the scheduled call and transcripts/summaries are available for detail on pacing, digital deployment and capital spending plans — useful for drilling into guidance assumptions. Yahoo Earnings Call Summary
  • Negative Sentiment: GAAP EPS miss: Reported EPS for Q4 was $1.50, below analyst consensus (~$2.18), a headline that can pressure near‑term sentiment despite solid revenue/EBITDA. MSN Earnings Note
  • Negative Sentiment: Lower FY‑2026 earnings guide vs. Street: Management set net income per diluted share guidance of $5.72–$5.83 (and AFFO guidance $8.50–$8.70) — below many analyst models — which can weigh on valuation and future estimates. GlobeNewswire Release
  • Negative Sentiment: Quality of earnings & cash flow softness: Full‑year net income was helped by a one‑time gain (sale of Vistar) and prior-year accounting adjustments; operating cash flow and free cash flow declined modestly year‑over‑year — raises questions about sustainability. Insiders have sold shares recently per filings. QuiverQuant Summary

About Lamar Advertising

(Get Free Report)

Lamar Advertising Company (NASDAQ: LAMR) is one of North America’s largest outdoor advertising firms, specializing in out-of-home media solutions. Since its founding in 1902, the company has grown through a combination of organic expansion and strategic acquisitions to offer a broad portfolio of advertising products. Its core business centers on billboard advertising, encompassing traditional static billboards and a rapidly expanding network of digital displays. These assets enable advertisers to reach consumers with high-impact messaging along highways, in urban centers, and at high-traffic intersections.

In addition to highway billboards, Lamar offers a variety of supplemental out-of-home formats, including transit advertising on buses and shelters, and logo signage at travel plazas and gas stations.

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