Lamar Advertising Raises Full-Year Outlook as Revenue Grows
The outdoor advertising company reported second-quarter net revenues of $616.7 million.
Lamar Advertising (LAMR), the outdoor advertising company, reported second-quarter net revenues that rose 6.5% to $616.7 million.
The results reflected a period of steady growth in core operations, leading the company to increase its full-year financial projections.
Net revenues for the quarter increased from $579.3 million in the prior year's second quarter. Adjusted EBITDA rose 9.0% to $303.4 million, up from $278.4 million in the same period last year. Diluted AFFO per share increased 8.1% to $2.40, compared to $2.22 in the prior-year quarter.
Growth was driven by organic performance. Acquisition-adjusted net revenue increased 6.1% year over year, while acquisition-adjusted EBITDA rose 7.3%.
Cash flow from operations strengthened during the period. Free cash flow for the second quarter increased by $19.6 million to $218.7 million, compared to $199.1 million in the second quarter of 2024.
Six-month results showed a divergence between operating performance and net income. Adjusted EBITDA for the first half of 2025 increased 8.4% to $529.7 million. However, net income for the six-month period decreased 9.4% to $266.5 million from $294.2 million in 2024, which the company attributed to a $67.8 million gain from the sale of Vistar Media, Inc. recorded in the previous year.
Lamar raised its full-year 2025 guidance for diluted AFFO per share to a range of $8.75 to $8.90. The company provided diluted EPS guidance between $5.95 and $5.99.