NASDAQ$LAMR
Lamar Advertising Company · Q1 2024 earnings
Q1 2024 earnings · · Investor relations
Briefing
Lamar's first-quarter results exceeded expectations, driven by strong local sales and a return to same-store growth in digital, leading to raised full-year diluted AFFO guidance.
Lamar Advertising Company reported a 5.7% increase in net revenue to $498.2 million for the first quarter of 2024. Net income increased to $78.5 million, and Adjusted EBITDA rose by 7.1% to $211.9 million. The company raised its full-year diluted AFFO guidance to a range of $7.75 to $7.90 per share.
- Net revenue increased by 5.7% compared to the first quarter of 2023, reaching $498.2 million.
- Net income saw an increase to $78.5 million, up from $76.2 million in the same period last year.
- Adjusted EBITDA increased by 7.1% to $211.9 million.
- Diluted AFFO per share increased by 9.2% to $1.54.
Headline financials
Revenue & EPS history
Lamar · Revenue · Quarterly
$498M
Forward guidance
Lamar Advertising Company updated its 2024 guidance, now expecting net income per diluted share to be between $4.95 and $5.01, with diluted AFFO per share between $7.75 and $7.90.
Tailwinds
- Net income per diluted share for fiscal year 2024 is expected to be between $4.95 and $5.01.
- Diluted AFFO per share is projected to be between $7.75 and $7.90.
- The guidance is based on reasonable assumptions and reflects management's expectations as of May 2, 2024.
- Company anticipates continued growth and strong performance in the coming year.
- Revised guidance reflects the positive momentum and strong first-quarter results.
Headwinds
- Actual results may differ materially from these estimates due to various factors.
- Significant indebtedness could impact financial flexibility.
- The state of the economy and financial markets could affect demand for advertising.
- Changes in tax laws applicable to REITs or their interpretation could adversely affect the company.
- The company's ability to renew expiring contracts at favorable rates is a risk.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2024
+0.7%
Avg return
Earnings day
+0.2%
Avg return
5 days after
+0.3%
Avg return
30 days after
51%
35 / 68 earnings
Positive
+27.4%
Q1 2020
Best reaction
-14.8%
Q1 2012
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +7.0% | +4.5% | +7.2% | |
| Q4 2025 | +0.8% | +1.6% | -6.2% | |
| Q3 2025 | +1.2% | +7.6% | +12.1% | |
| Q1 2025 | -2.9% | +0.4% | +2.2% | |
| Q4 2024 | -7.3% | -5.0% | -15.8% | |
| Q3 2024 | -3.7% | -5.0% | -2.8% | |
| Q2 2024 | +1.2% | +3.3% | +7.5% | |
| Q1 2024 | -2.1% | +0.0% | +0.5% | |
| Q4 2023 | -2.9% | -3.8% | +3.3% | |
| Q3 2023 | +15.9% | +15.0% | +27.1% | |
| Q2 2023 | -7.3% | -7.2% | -5.1% | |
| Q1 2023 | -5.6% | -7.3% | -8.4% | |
| Q4 2022 | -1.0% | -0.3% | -9.7% | |
| Q3 2022 | -1.9% | -1.8% | +10.7% | |
| Q2 2022 | +1.0% | +3.5% | -6.6% | |
| Q1 2022 | -4.7% | -10.8% | -12.3% | |
| Q4 2021 | -3.3% | -2.9% | +2.8% | |
| Q3 2021 | +1.6% | +2.3% | -5.7% | |
| Q2 2021 | +4.2% | +1.6% | +9.1% | |
| Q1 2021 | -0.7% | +4.5% | +3.2% | |
| Q4 2020 | -0.4% | +5.0% | +9.1% | |
| Q3 2020 | +4.0% | +8.2% | +14.0% | |
| Q2 2020 | -0.5% | +5.4% | +2.7% | |
| Q1 2020 | +27.4% | +16.9% | +41.1% | |
| Q4 2019 | -1.2% | -6.8% | -58.0% | |
| Q3 2019 | +3.2% | +1.7% | +6.0% | |
| Q2 2019 | -1.3% | -2.2% | -5.0% | |
| Q1 2019 | -0.3% | -1.1% | -4.4% | |
| Q4 2018 | -1.4% | -0.1% | -1.9% | |
| Q3 2018 | -5.4% | -5.5% | -8.7% | |
| Q2 2018 | -0.3% | +0.9% | +6.5% | |
| Q1 2018 | +2.2% | +2.8% | +8.7% | |
| Q4 2017 | -8.5% | -8.9% | -12.4% | |
| Q3 2017 | +10.3% | +7.2% | +8.7% | |
| Q2 2017 | -5.0% | -5.0% | -5.0% | |
| Q1 2017 | +1.3% | -1.0% | +1.8% | |
| Q4 2016 | -5.8% | -4.5% | -4.4% | |
| Q3 2016 | -3.0% | -2.0% | +4.6% | |
| Q2 2016 | -5.5% | -5.0% | -5.7% | |
| Q1 2016 | +1.5% | — | — | |
| Q4 2015 | -4.9% | — | — | |
| Q3 2015 | +0.9% | — | — | |
| Q2 2015 | -9.1% | — | — | |
| Q1 2015 | +3.3% | — | — | |
| Q4 2014 | +1.1% | — | — | |
| Q3 2014 | +2.1% | — | — | |
| Q2 2014 | +0.8% | — | — | |
| Q1 2014 | -0.8% | — | — | |
| Q4 2013 | +7.1% | — | — | |
| Q3 2013 | +0.4% | — | — | |
| Q2 2013 | -0.0% | — | — | |
| Q1 2013 | -1.2% | — | — | |
| Q4 2012 | +6.0% | — | — | |
| Q3 2012 | +1.6% | — | — | |
| Q2 2012 | +6.8% | — | — | |
| Q1 2012 | -14.8% | — | — | |
| Q2 2011 | +3.3% | — | — | |
| Q4 2011 | +3.3% | — | — | |
| Q3 2011 | +22.0% | — | — | |
| Q1 2011 | +4.2% | — | — | |
| Q1 2010 | +4.2% | — | — | |
| Q4 2008 | +2.3% | — | — | |
| Q2 2010 | +2.3% | — | — | |
| Q4 2010 | +2.3% | — | — | |
| Q3 2010 | -0.9% | — | — | |
| Q3 2009 | -0.9% | — | — | |
| Q2 2009 | +3.7% | — | — | |
| Q4 2009 | +3.7% | — | — |
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