NASDAQ$LAMR
Lamar Advertising Company · Q4 2022 earnings
Q4 2022 earnings · · Investor relations
Briefing
Lamar's Q4 2022 operating results were announced, demonstrating solid financial performance driven by strong local sales which offset weakening national demand.
Lamar Advertising Company reported net revenues of $535.5 million for the fourth quarter of 2022, an 8.3% increase compared to the fourth quarter of 2021. Net income for the quarter was $66.1 million. The company anticipates full-year diluted AFFO per share of $7.40 to $7.55 for 2023.
- Net revenue increased by 8.3% in the fourth quarter.
- Adjusted EBITDA increased 9.4% in the fourth quarter.
- Diluted AFFO per share increased 7.3% in the fourth quarter.
- Lamar completed 19 acquisitions for a total purchase price of approximately $192 million during the quarter.
Headline financials
Revenue & EPS history
Lamar · Revenue · Quarterly
$536M
Forward guidance
Lamar anticipates solid revenue growth and moderating expense growth in 2023, but expects interest expense to be a meaningful headwind. Full-year diluted AFFO per share is anticipated to be between $7.40 and $7.55.
Tailwinds
- Anticipates solid revenue growth
- Expects moderating expense growth
- Net income between $525 million and $532.5 million
- Funds From Operations between $770 million and $777.5 million
- Capitalized contract fulfillment costs, net $500
Headwinds
- Interest expense is expected to be a meaningful headwind
- Stock-based compensation expense $20 million to $28 million
- Capitalized expenditures—maintenance ($63 million)
- Gain from disposition of real estate assets and investments($5 million)
- Non-real estate related depreciation and amortization $12 million
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 Q4 2022
+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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