Lamar: 3Q Earnings Snapshot
BATON ROUGE, La. (AP) _ Lamar Advertising Co. (LAMR) on Thursday reported a key measure of profitability in its third quarter.
The real estate investment trust, based in Baton Rouge, Louisiana, said it had funds from operations of $150.1 million, or $1.51 per share, in the period.
Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.
The company said it had net income of $94 million, or 95 cents per share.
The outdoor and transit advertising company, based in Baton Rouge, Louisiana, posted revenue of $418.5 million in the period.
Lamar expects full-year funds from operations in the range of $5.30 to $5.40 per share.
The company’s shares have climbed slightly more than 8 percent since the beginning of the year. The stock has climbed 4 percent in the last 12 months.