Lamar: Q1 Earnings Snapshot
BATON ROUGE, La. (AP) _ Lamar Advertising Co. (LAMR) on Tuesday reported a key measure of profitability in its first quarter.
The Baton Rouge, Louisiana-based real estate investment trust said it had funds from operations of $116.7 million, or $1.15 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 $38.2 million, or 38 cents per share.
The outdoor and transit advertising company, based in Baton Rouge, Louisiana, posted revenue of $370.9 million in the period.
Lamar expects full-year funds from operations in the range of $5.40 to $5.60 per share.
The company’s shares have increased 22% since the beginning of the year. The stock has climbed 89% in the last 12 months.