Lamar Advertising Company(LAMR)- NASDAQ
  • Tue, Aug. 9, 11:30 AM
    • After a very steady week, Lamar Advertising (NASDAQ:LAMR) is 5.2% lower today despite posting a second quarter that beat expectations across the board.
    • Operating results rose across essentially all metrics and the digital platform did well: "Revenue trends on both our new units and our existing units were extremely encouraging," says CEO Sean Reilly.
    • Net income rose 38% to $81.9M and EBITDA was up 13.5% (adjusting for acquisition, up 5.6%) to $176.4M (beating an expected $173.5M). Revenue that grew 12.6% was up 3.5% on an acquisition-adjusted basis.
    • Diluted adjusted FFO/share rose 12.3%.
    • Cash flow from operating activities rose 19.5% to $159.5M; free cash flow was $112.1M (up 10.8% Y/Y).
    • At quarter's end, Lamar had $218.6M in total liquidity ($41.7M in cash and equivalents, $176.9M available under a revolving senior credit facility).
    • Press Release
    | Tue, Aug. 9, 11:30 AM | 1 Comment
  • Tue, Feb. 23, 12:20 PM
    • Lamar Advertising (NASDAQ:LAMR) is off 3.5% following the release of Q4 results where profits fell substantially, mainly due to a REIT conversion-related tax benefit.
    • Revenues grew 5.7% and operating income grew 18.4% to $104.8M. Pro forma net revenue grew 2.5%. Adjusted EBITDA of $158.7M was up 5.4% but narrowly missed an expected $159.7M; pro format EBITDA grew 3.9%.
    • Funds from operations fell to $118.4M from the previous $136.8M; the 2014 total included a noncash tax benefit of $28.2M related to the company's REIT conversion.
    • Free cash flow was $103.4M, up 3.2%. The company had $313.4M in total liquidity on Dec. 31, $22.3M of that in cash and equivalents.
    • Related: Lamar Advertising (LAMR) Sean Eugene Reilly on Q4 2015 Results - Earnings Call Transcript (Feb. 23 2016)
    | Tue, Feb. 23, 12:20 PM
  • Mon, Jan. 25, 7:40 PM
    • Lamar Advertising (LAMR -2.4%) priced its $400M private placement of senior notes due 2026, selling them at 5.75%.
    • Proceeds to its Lamar Media unit are expected to be about $394.5M and the offering should close around Thursday.
    • As reported, the company will use proceeds to repay a $300M term loan from earlier this month related to acquiring billboard assets from Clear Channel Outdoor Holdings, as well as part of its revolver.
    • Previously: Clear Channel Outdoor closes $458.5M sale, gives back gains (Jan. 07 2016)
    | Mon, Jan. 25, 7:40 PM
  • Thu, Jan. 7, 1:03 PM
    • After vaulting toward the close yesterday over a report that it was discussing selling nearly $1B in billboard assets, Clear Channel Outdoor Holdings (NYSE:CCO) has given it back and then some, down 8.3% today.
    • The company says it's closed a sale of five "non-strategic" outdoor markets to Lamar Advertising (NASDAQ:LAMR), for $458.5M in a pair of transactions.
    • One transaction covers Reno, Nev.; Des Moines, Iowa; and Seattle. Those markets generated $40.9M in net revenues (trailing 12 months). The other covers Cleveland and Memphis, Tenn.; those markets generated $35.6M in net revenues. The $458.5M deal price is a blended multiple of 12.5 times the five markets.
    • The company didn't state a use for proceeds, though it's expected they could go toward the $20B debt load of parent iHeartMedia (OTCPK:IHRT -5.5%).
    | Thu, Jan. 7, 1:03 PM
  • Wed, Jan. 6, 3:55 PM
    • Clear Channel Outdoor Holdings (NYSE:CCO) has jumped 15.3% in the closing minutes as Reuters reports Lamar Advertising (NASDAQ:LAMR) is in advanced talks to buy a set of billboard assets for nearly half a billion dollars.
    • Lamar is nearing a deal to buy CCO's billboard assets in Cleveland; Des Moines, Iowa; Memphis, Tenn.; Reno, Nev.; and Seattle, sources said, though talks aren't final. The holdings could draw about $450M.
    • One source adds CCO plans to sell a different $350M-$400M of billboard assets elsewhere to private buyers such as Total Outdoor and Reagan Outdoor.
    • Proceeds would help CCO's parent iHeartMedia (OTCPK:IHRT) with some $20.6B in debt.
    | Wed, Jan. 6, 3:55 PM
  • Nov. 9, 2015, 5:22 PM
    • Clear Channel Outdoor Holdings (CCO -4.8%) is looking at the sale of U.S. billboard assets that might collectively come to $800M, Reuters reports.
    • The company has hired Moelis & Co. to advise it on a sale, sources said. The assets in question reportedly generate annual EBITDA of $60M-$70M.
    • Buyers could include rivals like Outfront Media (NYSE:OUT), Lamar Advertising (NASDAQ:LAMR), GTCR and JCDecaux. Clear Channel could divest holdings in a variety of regions, which could include Las Vegas, Seattle, Portland, and Bentonville and Fort Smith, Ark.
    • About 88% of Clear Channel Outdoor is held by iHeartMedia (OTCPK:IHRT -10%).
    | Nov. 9, 2015, 5:22 PM
  • Aug. 6, 2015, 3:30 PM
    • After a fairly stable climb over the past two weeks, Lamar Advertising (NASDAQ:LAMR) is down 10.6% after posting a miss on Q2 profits today.
    • EPS of $0.61 missed an expected $0.75; adjusted funds from operations were $118M, up 14.7%. That's $1.22/share, beating expectations of $1.19/share. Operating income rose 36%, to $99.3M.
    • Adjusted EBITDA grew 3.8% to $155.4M but fell just short of an expected $156.5M.
    • The company had $307.6M in total liquidity ($280.1M in revolving credit facility and $27.5M in cash and equivalents).
    • Free cash flow for the six months was up 20.3% to $164M.
    | Aug. 6, 2015, 3:30 PM
  • May 6, 2015, 9:48 AM
    • Lamar Advertising (NASDAQ:LAMR) has come out of the open up 3.3% after beating on top and bottom lines in its first quarter.
    • Revenue growth of 6.2% was spurred by local billboard revenue that grew 6.7%. National billboard sales increased 2.5% in Q1.
    • Compared with EPS of $0.42, funds from operations were $78.9M (up 34%), or $0.82/share. EBITDA of $118.6M (up 23.1%) beat an expecteed $109M.
    • Free cash flow was up 23% to $62.9M. Lamar has $32.5M in cash and equivalents, and $303.7M in liquidity, including capacity in its credit facility.
    | May 6, 2015, 9:48 AM
  • Oct. 17, 2014, 8:18 AM
    • Lamar Advertising (NASDAQ:LAMR) says it's on track with the SEC to reorganize its business as a REIT.
    • Shareholders will vote on the plan later this month.
    • The company hopes to make the REIT status effective for the current tax year.
    • LAMR +2.8% premarket.
    | Oct. 17, 2014, 8:18 AM
  • Apr. 16, 2014, 3:15 PM
    • A favorable IRS private letter ruling for CBS Outdoor (CBSO +6.1%) is giving the outdoor advertising sector an afternoon lift. The IRS set the table for CBS Outdoor to convert itself to a REIT.
    • Advancers: Clear Channel Outdoor (CCO) +3.1%, AirMedia Group (AMCN) +3.0%, Lamar Advertising (LAMR) +5.6%.
    | Apr. 16, 2014, 3:15 PM
  • Jun. 7, 2013, 9:11 AM
    Premarket gainers: ROSG +16%. JKS +15%. IMUC +10%. NLST +8%. CBK +8%. GFA +7%. SNTA +7%. ELN +5%.
    Losers: FSGI -42%. TIVO -18%. IRM -15%. JRCC -14%. LAMR -9%. CPRT -8%. FRO -7%. EQIX -8%. OIS -8%.
    | Jun. 7, 2013, 9:11 AM
  • Jun. 6, 2013, 7:47 PM
    Some others taking hit in the post-session on Iron Mountain's (IRM) IRS REIT conversion news: Lamar Advertising (LAMR -7.7%) and Penn National Gaming (PENN -1.5%).
    | Jun. 6, 2013, 7:47 PM
  • Jan. 16, 2013, 6:28 PM
    Outdoor advertiser Lamar Advertising (LAMR) moves up on the back of the CBS (CBS) report that it's converting its outdoor adverting unit - including its billboards and transit & street advertising - into a REIT. LAMR has been studying a conversion to a REIT since August of last year. Shares +2% AH.
    | Jan. 16, 2013, 6:28 PM
  • Sep. 18, 2012, 8:30 AM

    Lamar Advertising (LAMR) +2.8% premarket after Goldman Sachs upgrades shares to Conviction Buy from Neutral with a $42 price target (up from $34). The firm sees a high probability of IRS approval for LAMR's REIT conversion in Q1 2013 given a recent IRS ruling that established a billboard REIT precedent.

    | Sep. 18, 2012, 8:30 AM
  • Aug. 8, 2012, 9:10 AM
    Premarket gainers: WFR +31%. DF +28%. RAX +14%. LAMR +13%. CBB +12%. SODA +8%. CLWR +7%. KTOS +7%. ESRX +6%. HPQ +6%.
    Losers: EZCH -21%. GIVN -16%. PCLN -15%. ATRS -9%. ASTM -9%. WCRX -8%. RL -7%. EXAS -5%. RENN -5%.
    | Aug. 8, 2012, 9:10 AM
Company Description
Lamar Advertising Co. is the advertising company. It offers solutions for clients in the form of bulletins and posters. Lamar Advertising operates the business through one segment: Advertising. It bulletins are generally large, illuminated advertising structures that are located on major... More
Sector: Services
Industry: Marketing Services
Country: United States