Q2 26 EPS GAAP
$1.58
BEAT +0.00%
Est. $1.58
Q2 26 Revenue
$616.7M
BEAT +1.67%
Est. $606.6M
Market Reaction
Did LAMR Beat Earnings? Q2 2026 Results
Lamar Advertising delivered a solid second quarter for 2026, matching Wall Street's GAAP earnings-per-share estimate of $1.58 exactly while posting revenue that genuinely impressed, with the outdoor advertising giant reporting $616.75 million in net … Read more Lamar Advertising delivered a solid second quarter for 2026, matching Wall Street's GAAP earnings-per-share estimate of $1.58 exactly while posting revenue that genuinely impressed, with the outdoor advertising giant reporting $616.75 million in net revenue, a 6.5% increase year-over-year that cleared the $606.61 million consensus by 1.67%. The headline story behind the results was improving operating leverage, as expense growth lagged revenue gains and pushed adjusted EBITDA up 9.0% to $303.36 million, a key signal of the company's ability to translate billboard, transit, and digital display demand into bottom-line gains. AFFO, the metric REIT investors watch most closely, climbed 10.1% to $247.95 million, with diluted AFFO per share rising to $2.40 from $2.22 a year earlier. Management rewarded shareholders with raised full-year guidance, now projecting diluted AFFO per share of $8.75 to $8.90 and GAAP diluted EPS of $5.95 to $5.99, citing results that exceeded internal expectations and strong advertising pacings through the balance of 2026, a sentiment echoed by analysts who have recently raised price targets on the stock.
Key Takeaways
- • Net revenues increased 6.5% year-over-year driven by advertiser demand for outdoor advertising
- • Adjusted EBITDA grew 9.0% year-over-year to $303.4 million
- • AFFO increased 10.1% year-over-year
- • Acquisition-adjusted net revenue increased 6.1%, reflecting strong organic growth
- • Acquisition-adjusted EBITDA increased 7.3%
- • Digital billboard network expansion with over 5,700 digital displays
LAMR Forward Guidance & Outlook
Lamar raised its full-year 2026 guidance. The company now expects diluted EPS of $5.95 to $5.99 and diluted AFFO per share of $8.75 to $8.90 for fiscal year 2026. Management cited second-quarter results that exceeded expectations and strong pacings for the balance of 2026 as the basis for the upward revision. The revised guidance projects full-year net income of $604.4 million to $609.4 million and AFFO of $903.0 million to $918.0 million.
LAMR YoY Financials
Q2 2026 vs Q2 2025, source: SEC Filings
“Our business is in a great place right now. As our results demonstrate, customers appreciate our ability to connect them with their audiences and to deliver messages that resonate.”
— Sean Reilly, Q2 2026 Earnings Press Release
LAMR Earnings Trends
LAMR vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
LAMR EPS Trend
Earnings per share: estimate vs actual
LAMR Revenue Trend
Quarterly revenue: estimate vs actual
LAMR Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q2 26 BEAT | $1.58 | $1.58 | +0.00% | $616.7M | +1.67% |
| Q1 26 BEAT | $0.84 | $1.00 | +19.26% | $528.0M | +1.06% |
| Q4 25 MISS FY | $1.57 | $1.50 | -4.42% | $595.9M | +0.55% |
| FY Full Year | — | $5.77 | — | $2.27B | — |
| Q3 25 MISS | $1.48 | $1.40 | -5.30% | $585.5M | +0.26% |
| Q2 25 BEAT | $1.48 | $1.52 | +2.36% | $579.3M | -0.26% |