Companies /Real Estate

Lamar Advertising Co - Class A

NASDAQ: LAMR Reit - Specialty
$150.99
â–² $0.40 (+0.27%) today
Markets open · 10:26am ET

Q2 2025 Earnings

Reported Aug 8, 2025, 6:59am ET · SEC source
$1.52
Beat +2.36%
EPS · est. $1.48
$579.3M
Miss −0.26%
Revenue · est. $580.8M
+7.3%
Beating market
LAMR vs S&P since report
2 quarters
Consecutive EPS beats

Market Reaction

% change · around the report
−6%−4%−2%0Aug 8Aug 8report 6:59am ETearnings+0.5%−5.7%
−6%−4%−2%0Aug 8Aug 8earnings+0.5%−5.7%
LAMR −5.7%S&P 500 +0.5%
−6%−3%0Aug 8Aug 8report 6:59am ETearnings+0.7%−5.7%
−6%−3%0Aug 8Aug 8earnings+0.7%−5.7%
LAMR −5.7%NASDAQ +0.7%
−4%0+4%Aug 7Aug 15report 6:59am ETearnings+1.4%+0.6%
−4%0+4%Aug 7Aug 15earnings+1.4%+0.6%
LAMR +0.6%S&P 500 +1.4%
−4%0+4%Aug 7Aug 15report 6:59am ETearnings+1.1%+0.6%
−4%0+4%Aug 7Aug 15earnings+1.1%+0.6%
LAMR +0.6%NASDAQ +1.1%
−7.41%
Day of report
−0.45%
Next session
+6.73%
One week
+9.61%
30 days

S&P 500 over the same 30 days: +2.36%.

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 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

“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.”

Lamar Advertising CEO, on the earnings call

Forward Guidance & Outlook

Lamar revised its 2025 full-year guidance downward. The company now expects net income per diluted share of $6.09 to $6.11 and diluted AFFO per share of $8.10 to $8.20, reduced from the prior range of $8.13 to $8.28. Management indicated pacings suggest continued year-over-year revenue improvement in the second half of 2025, though perhaps not to the degree originally anticipated entering the year.

LAMR YoY Financials

Q2 2025 vs Q2 2024 · SEC filings Q2 2024 Q2 2025
$0$200.0M$400.0M$600.0M$565.2M$579.3MRevenue$184.2M$197.7MOperating Income$137.4M$155.0MNet Income
$0$200.0M$400.0M$600.0MRevenueOperating IncomeNet Income

Figures from SEC filings and company reports. Not investment advice.