Earnings Review and Free Research Report: Lamar Topped Revenue and Adjusted FFO Estimates; Free Cash Flow Grew 6.3%

Research Desk Line-up: VEREIT Post Earnings Coverage

LONDON, UK / ACCESSWIRE / August 30, 2017 / Pro-Trader Daily has just published a free post-earnings coverage on Lamar Advertising Co. (NASDAQ: LAMR), which can be viewed by registering at http://protraderdaily.com/optin/?symbol=LAMR, following the Company’s posting of its second quarter financial results on August 08, 2017. The outdoor and transit advertising Company based in Baton Rouge, Louisiana, reported y-o-y gains in revenue, net income, and FFO. Lamar also revised its guidance for 2017. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member’s account at:

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Get more of our free earnings reports coverage from other constituents of the REIT – Diversified industry. Pro-TD has currently selected VEREIT, Inc. (NYSE: VER) for due-diligence and potential coverage as the Company announced on August 03, 2017, its operating results for Q2 2017 which ended on June 30, 2017. Register for a free membership today, and be among the early birds that get access to our report on VEREIT when we publish it.

At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on LAMR; also brushing on VER. With the links below you can directly download the report of your stock of interest free of charge at:

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Earnings Reviewed

Lamar reported net revenues of $397.1 million for the second quarter ended June 30, 2017, up 2.5% compared to net revenues of $387.5 million for the second quarter of 2016. The Company’s revenue numbers surpassed analysts’ estimates of $396.51 million.

For Q2 2017, Lamar’s operating income increased $11.1 million to $128.2 million compared to $117.1 million for Q2 2016. The Company’s adjusted EBITDA for the reported quarter totaled $181.9 million, up 3.1% versus $176.4 million for the year ago comparable period.

During Q2 2017, Lamar recognized net income of $92.4 million compared to net income of $81.9 million for Q2 2016. The Company’s net income per diluted share increased 11.9% to $0.94 from $0.84 for the three months ended June 30, 2017 and 2016, respectively.

For Q2 2017, Lamar’s Funds from Operations (FFO) was $140.9 million, up 8.2% versus $130.2 million for Q2 2016. The Company’s adjusted Funds from Operations (AFFO) were $136.5 million for the reported quarter compared to $133.7 million for the year ago same period. Lamar’s diluted AFFO per share increased 1.5% to $1.39 for the three months ended June 30, 2017, compared to $1.37 for Q2 2016. The Company’s AFFO numbers exceeded Wall Street’s expectations of $1.31 per share.

Acquisition-adjusted Three Months Results

Lamar’s acquisition-adjusted net revenue for Q2 2017 grew 1.7% to $397.08 million over acquisition-adjusted net revenue of $3490.43 million for Q2 2016. The Company’s acquisition-adjusted EBITDA for the reported quarter increased 2.4% to $181.92 million compared to acquisition-adjusted EBITDA for the year ago corresponding period of $177.70 million.

Cash Matters

As of June 30, 2017, Lamar had $452.8 million in total liquidity that consisted of $409.9 million available for borrowing under its revolving senior credit facility and approximately $42.9 million in cash and cash equivalents.

For the three months ended June 30, 2017, Lamar’s cash flow provided by operating activities was $160.26 million, an increase of $0.8 million compared to cash flow from operating activities of $159.49 million for the same period in 2016. The Company’s free cash flow for the reported quarter was $119.2 million, reflecting a 6.3% increase compared to $112.1 million for the prior year’s same quarter.

Revised Guidance

Lamar’s management stated that due to current market conditions, the Company is revising its 2017 full year guidance for earnings per share and AFFO per share. For FY 2017, Lamar is forecasting net income per diluted share in the range of $3.09 and $3.19 compared to the previous guidance in the band of $3.13 to $3.28 per share. In addition, Lamar expects diluted AFFO per share for 2017 to be between $4.90 and $5.00 compared to the earlier AFFO per share estimates of $5.05 to $5.20 per share.

Stock Performance

Lamar Advertising’s share price finished yesterday’s trading session at $65.71, marginally down 0.67%. A total volume of 534.14 thousand shares have exchanged hands. The Company’s stock price advanced 3.82% in the previous twelve months. Shares of the Company have a PE ratio of 21.53 and have a dividend yield of 5.05%. The stock currently has a market cap of $6.36 billion.

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