Lamar: Q1 Earnings Snapshot
BATON ROUGE, La. (AP) _ Lamar Advertising Co. (LAMR) on Thursday reported a key measure of profitability in its first quarter.
The real estate investment trust, based in Baton Rouge, Louisiana, said it had funds from operations of $151.9 million, or $1.50 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 $92.1 million, or 91 cents per share.
The outdoor and transit advertising company, based in Baton Rouge, Louisiana, posted revenue of $451.4 million in the period.
Lamar expects full-year funds from operations in the range of $7.20 to $7.35 per share.