Lamar: 2Q Earnings Snapshot
BATON ROUGE, La. (AP) _ Lamar Advertising Co. (LAMR) on Wednesday reported a key measure of profitability in its second quarter.
The real estate investment trust, based in Baton Rouge, Louisiana, said it had funds from operations of $154.1 million, or $1.54 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 $118.3 million, or $1.18 per share.
The outdoor and transit advertising company, based in Baton Rouge, Louisiana, posted revenue of $448.7 million in the period.
The company’s shares have increased 16% since the beginning of the year. The stock has climbed 11% in the last 12 months.