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Lamar Advertising

LAMR Q2 2025 Earnings

Reported Aug 8, 2025 at 6:59 AM ET · SEC Source

Q2 25 EPS

$1.52

BEAT +2.36%

Est. $1.48

Q2 25 Revenue

$579.3M

MISS 0.26%

Est. $580.8M

vs S&P Since Q2 25

+19.0%

BEATING MARKET

LAMR +34.3% vs S&P +15.2%

Market Reaction

Did LAMR Beat Earnings? Q2 2025 Results

Lamar Advertising delivered a mixed but largely solid second quarter, posting earnings that cleared Wall Street's bar even as revenue fell just short. Diluted EPS of $1.52 beat the consensus estimate of $1.48 by 2.36%, while net revenues of $579.31 m… Read more Lamar Advertising delivered a mixed but largely solid second quarter, posting earnings that cleared Wall Street's bar even as revenue fell just short. Diluted EPS of $1.52 beat the consensus estimate of $1.48 by 2.36%, while net revenues of $579.31 million came in fractionally below the $580.79 million consensus, a gap of just 0.26%, though still representing 2.5% growth year-over-year. The bottom-line strength was underpinned by disciplined cost management, with total operating expenses essentially flat year-over-year at $381.63 million, helping operating income climb 7.3% to $197.68 million. Capital spending nearly doubled to $38.20 million, driven by accelerated digital billboard investment, a strategic bet the company is leaning into as it expands its network. Looking ahead, management trimmed its full-year diluted AFFO per share guidance to $8.10 to $8.20 from a prior range of $8.13 to $8.28, citing pacings that point to continued second-half revenue growth, though at a more modest pace than originally anticipated.

Key Takeaways

  • • Revenue growth accelerated slightly in Q2, with increases on both national and local levels
  • • Net revenue increased 2.5% year-over-year
  • • Acquisition-adjusted net revenue increased 1.9%, indicating organic growth
  • • Diluted AFFO per share increased 6.7% year-over-year
  • • Interest expense declined from $44.3 million to $40.7 million year-over-year
24/7 Wall St

LAMR YoY Financials

Q2 2025 vs Q2 2024, source: SEC Filings

“Revenue growth accelerated slightly in the second quarter, with increases on both the national and local levels. Meanwhile, in early July we completed a milestone acquisition, with the first-ever UPREIT transaction in the billboard industry.”

— Sean Reilly, Q2 2025 Earnings Press Release

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