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Lamar Advertising Acquires AdSource Outdoor Advertising Assets
Lamar Advertising announced that it has acquired the assets of AdSource Outdoor Advertising in an UPREIT transaction. The acquisition, which closed on August 12, adds more than 230 billboard faces in Louisiana, including 30 digital displays, to Lamar's portfolio. The pending acquisition was disclosed on the company's recent earnings call. In this transaction, AdSource contributed its assets to Lamar Advertising Limited, the operating partnership subsidiary of Lamar that holds the company's assets. In return, the owners of AdSource received common units of Lamar LP, with each common unit of Lamar LP designed to track the value of a share of Lamar's Class A common stock. Holders of the Lamar LP common units receive cash distributions on each common unit in an amount equal to the per share dividend paid on Lamar's common stock. Common units of Lamar LP are convertible into cash or shares of Class A common stock of Lamar. The transaction was enabled by Lamar's organization as an UPREIT, or Umbrella Partnership Real Estate Investment Trust. This structure allows Lamar to issue partnership units of Lamar LP to billboard owners on a tax-deferred basis in connection with acquisitions.
Company Reports Q2 Revenue of $616.7M, Raises Full-Year AFFO Guidance to $8.75-$8.90
Reports Q2 revenue $616.7M, consensus $606.61M. "Our business is in a great place right now. As our results demonstrate, customers appreciate our ability to connect them with their audiences and to deliver messages that resonate," CEO Sean Reilly said. "With Q2 results that exceeded our expectations and strong pacings for the balance of 2026, we are raising our guidance for full-year diluted AFFO per share to a range of $8.75-$8.90."
Lamar Advertising Raises 2026 AFFO Outlook to $8.75-$8.90
Lamar Advertising raises 2026 AFFO view to $8.75-$8.90, consensus $8.81
Lamar Q1 Revenue of $528M Beats Expectations
Reports Q1 revenue $528.0M, consensus $522.48M. "Our year is shaping up quite nicely, with strong demand from local and particularly national customers," Lamar chief executive Sean Reilly said. "Our Q1 results surpassed our internal forecasts, and our pacings have us trending at the top end of our previously provided guidance for full-year AFFO per diluted share. "
U.S. Stock Futures Slightly Lower as Oil Prices Rise Amid Geopolitical Tensions
Stock futures are slightly lower amid AI-related risk aversion and ongoing rotation across sectors. Futures may also be reacting to GDP growth that came in well below forecasts in Q4. The U.S. economy expanded at an annualized 1.4% rate in Q4, following 4.4% growth in Q3 and well below forecasts, the advance estimate showed.Oil prices have climbed amid rising geopolitical tension as crude oil reached six-month highs on geopolitical risk around the Middle East, bolstering energy demand, while agricultural commodities like cocoa and coffee have faced substantial declines due to supply considerations and weak demand signals.In pre-market trading, S&P 500 futures fell 0.33%, Nasdaq futures fell 0.46% and Dow futures fell 0.24%.Check out this morning's top movers from around Wall Street, compiled by The Fly.HIGHER -AppLovinup 4% after Bloombergthe company is preparing to build a social networking platformUP AFTER EARNINGS -Opendoor Technologiesup 18%RingCentralup 12%Texas Roadhouseup 3%Oil Statesup 2%Lamar Advertisingup 1%DOWN AFTER EARNINGS -Hudbay Mineralsdown 4%Western Uniondown 2%PPL Corp.down 2%LOWER -Graildown 47% after reporting its NHS-Galleri trial missed the primary endpoint
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