Overview

* Lamar Q3 revenue grows 3.8% yr/yr, slightly beating analyst expectations

* Adjusted EBITDA for Q3 slightly exceeds analyst estimates

* Net income for Q3 decreased 2.5% compared to last year

Outlook

* Lamar expects to meet revised full-year diluted AFFO per share guidance

* Co sees strength in the holiday season and momentum going into next year, per CEO Sean Reilly

Result Drivers

* NATIONAL SALES - Co reports an uptick in national sales as a key driver of Q3 performance

* ACQUISITION-ADJUSTED GROWTH - Acquisition-adjusted net revenue increased 2.9% yr/yr, contributing to overall revenue growth

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 Slight $585.54 $583.003

Revenue Beat* mln mln (4

Analysts

)

Q3 EPS $1.40

Q3 Net $144.08

Income mln

Q3 Slight $280.77 $280.14

Adjusted Beat* mln mln (4

EBITDA Analysts

)

Q3 $2.20

Adjusted

FFO Per

Share

Q3 Free $189.21

Cash mln

Flow

*Applies to a deviation of less than 1%; not applicable for per-share numbers.

Analyst Coverage

* The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 2 "strong buy" or "buy", 5 "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the specialized reits peer group is "buy."

* Wall Street's median 12-month price target for Lamar Advertising Co ( LAMR ) is $135.00, about 12.2% above its November 5 closing price of $118.49

* The stock recently traded at 20 times the next 12-month earnings vs. a P/E of 21 three months ago

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)