Lamar: 3Q Earnings Snapshot
BATON ROUGE, La. (AP) _ Lamar Advertising Co. (LAMR) on Tuesday reported a key measure of profitability in its third quarter.
The real estate investment trust, based in Baton Rouge, Louisiana, said it had funds from operations of $163 million, or $1.62 per share, in the period.
Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.
The company said it had net income of $99.6 million, or 99 cents per share.
The outdoor and transit advertising company, based in Baton Rouge, Louisiana, posted revenue of $457.8 million in the period.
The company’s shares have climbed 16% since the beginning of the year. The stock has climbed 7% in the last 12 months.