Lamar Advertising Company (LAMR) Q3 2024 Earnings Call Transcript

Lamar Advertising Company (NASDAQ:LAMR) Q3 2024 Earnings Conference Call November 8, 2024 9:00 AM ET

Company Participants

Sean Reilly - CEO & President
Jay Johnson - EVP, CFO & Treasurer

Conference Call Participants

Cameron McVeigh - Morgan Stanley
Jason Bazinet - Citi
Daniel Osley - Wells Fargo
Lance Vitanza - TD Cowen

Operator

Excuse me everyone. We now have Sean Reilly and Jay Johnson in conference. [Operator Instructions]. 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 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 the company's third quarter 2024 earnings release and its most recent annual report on Form 10-K. Lamar refers you to those documents.

Lamar's third quarter 2024 earnings release, which contains information required by Regulation G regarding certain non-GAAP financial measures was furnished to the SEC on Form 8-K 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 Reilly. Mr. Reilly, you may begin.

Sean Reilly

Thank you, Brittany. Good morning to all, and welcome to Lamar's Q3 2024 Earnings Call. Business trends continue to be encouraging as we near year end. For the third quarter, demand from local and regional advertisers remained robust, and we saw particular strength from our programmatic sales channel, which helped offset broader weakness from our national advertising base.