Companies /Real Estate
Lamar Advertising Co - Class A
NASDAQ: LAMR Reit - Specialty
$143.24
▼ $1.50 (−1.04%) today
Markets closed · 6:19pm ET

Lamar Advertising (LAMR) Q3 2025 Earnings

Reported Nov 6, 2025, 6:55am ET · SEC source
$1.40
Miss −5.30%
EPS · est. $1.48
$585.5M
Beat +0.26%
Revenue · est. $584.0M
+6.2%
Beating market
LAMR vs S&P since report
2 quarters
Consecutive EPS beats

How Did LAMR Stock React to Q3 2025 Earnings?

% change · around the report
0+4%+8%Nov 6Nov 7report 6:55am ETearnings−2.1%+7.2%
0+4%+8%Nov 6Nov 7earnings−2.1%+7.2%
LAMR +7.2%S&P 500 −2.1%
−4%0+4%+8%Nov 6Nov 7report 6:55am ETearnings−3.5%+7.2%
−4%0+4%+8%Nov 6Nov 7earnings−3.5%+7.2%
LAMR +7.2%NASDAQ −3.5%
0+4%+8%Nov 5Nov 13report 6:55am ETearnings−0.9%+9.1%
0+4%+8%Nov 5Nov 13earnings−0.9%+9.1%
LAMR +9.1%S&P 500 −0.9%
−5%0+5%+10%Nov 5Nov 13report 6:55am ETearnings−2.5%+9.1%
−5%0+5%+10%Nov 5Nov 13earnings−2.5%+9.1%
LAMR +9.1%NASDAQ −2.5%
+1.25%
Day of report
+5.32%
Next session
+6.33%
One week
+8.09%
30 days

S&P 500 over the same 30 days: +1.90%.

Did LAMR Beat Earnings? Q3 2025 Results

No. Lamar Advertising reported Q3 2025 earnings of $1.40 a share on Nov 6, 2025, missing the $1.48 consensus estimate by 5.3%. Revenue was $585.5M against a $584.0M estimate.

Lamar Advertising delivered a mixed third quarter for fiscal 2025, nudging past revenue expectations while falling short on the bottom line. The outdoor advertising giant posted net revenues of $585.54 million, up 3.8% year-over-year and just ahead of the $584.00 million consensus, but diluted EPS of $1.40 missed the $1.48 analyst estimate by 5.30%, slipping from $1.44 a year ago as higher interest expenses and a $2.01 million loss on debt extinguishment tied to the company's substantial refinancing activities weighed on net income. The REIT-focused metrics told a steadier story, with adjusted EBITDA climbing 3.5% to $280.77 million and diluted AFFO per share rising 2.3% to $2.20, the figures institutional investors typically prioritize. A near-doubling of digital billboard capital expenditures to $25.17 million underscored the company's continued buildout of its digital display network. CEO Sean Reilly pointed to an uptick in national advertising sales and holiday-season momentum as reasons for confidence, affirming Lamar remains on track to meet its revised full-year diluted AFFO per share guidance.

Key Takeaways
  • Uptick in national advertising sales
  • Acquisition-adjusted revenue growth of 2.9%
  • Adjusted EBITDA growth of 3.5%
  • AFFO growth of 2.6%
  • Digital billboard expansion driving capex investment

“We delivered solid results in the third quarter, with an impressive uptick in national sales and consolidated year-over-year revenue growth improving to 2.9% on an acquisition-adjusted basis. In addition, we like the strength we are seeing in the holiday season and our momentum going into next year.”

Lamar Advertising CEO, on the earnings call

What Was Lamar Advertising's Outlook in Q3 2025?

CEO Sean Reilly stated the company is on track to hit its revised guidance for full year diluted AFFO per share based on current pacings. He noted strength in the holiday season and momentum going into next year, along with an uptick in national sales.

LAMR YoY Financials

Q3 2025 vs Q3 2024 · SEC filings Q3 2024 Q3 2025
$0$200.0M$400.0M$600.0M$564.2M$585.5MRevenue$186.5M$189.1MOperating Income$147.5M$144.1MNet Income
$0$200.0M$400.0M$600.0MRevenueOperating IncomeNet Income
LAMR income statement, Q3 2025 versus Q3 2024
Metric Q3 2025 Q3 2024 Year over year
Revenue $585.5M $564.2M +3.8%
Operating Income $189.1M $186.5M +1.4%
Net Income $144.1M $147.5M −2.3%

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