Lamar Advertising Co (LAMR) Q2 2024 Earnings Call Highlights: Strong Programmatic Sales and ...

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Revenue Growth: Increased 3.9% on an acquisition adjusted basis. EBITDA Growth: Increased 6.3% on an acquisition adjusted basis. Adjusted EBITDA Margin: Expanded to 48%, a 100 basis points improvement...

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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nLamar Advertising Co (LAMR) Q2 2024 Earnings Call Highlights: Strong Programmatic Sales and ...\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-10-10 05:41 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/lamar-advertising-co-lamr-q2-214122769.html><strong>GuruFocus.com</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Revenue Growth: Increased 3.9% on an acquisition adjusted basis.\nEBITDA Growth: Increased 6.3% on an acquisition adjusted basis.\nAdjusted EBITDA Margin: Expanded to 48%, a 100 basis points improvement...</p>\n\n<a href=\"https://finance.yahoo.com/news/lamar-advertising-co-lamr-q2-214122769.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LAMR","symbol_name":"拉马尔户外广告","start_time":0,"source_url":"https://finance.yahoo.com/news/lamar-advertising-co-lamr-q2-214122769.html","article_id":"2474278580","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/O04ILE1Swe9REfhDuLDepw--~B/aD00MDA7dz00MDA7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/us.finance.gurufocus/0d4382f182ceaf74d01005ce664cd311"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2474278580","pubTimestamp":1728510082,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"Revenue Growth: Increased 3.9% on an acquisition adjusted basis.EBITDA Growth: Increased 6.3% on an acquisition adjusted basis.Adjusted EBITDA Margin: Expanded to 48%, a 100 basis points improvement over Q2 2023.AFFO Per Share Growth: Increased 9.5% to $2.80 per share.Programmatic Sales Growth: Increased 73% versus Q2 2023.Adjusted Funds From Operations : Totaled $213.5 million, up 9.8% from last year.Capital Expenditure: Total spend for the quarter was approximately $22.6 million.Debt Repayment: Paid off $350 million term loan A.Digital Platform Growth: Grew 2.6% on a same-store basis.Airport Business Revenue Growth: Increased 21.7% following 20% growth in Q1.Interest Coverage: Expected to end the year north of 6 times adjusted EBITDA to cash interest.Total Liquidity: Approximately $744 million at the end of the quarter.Dividend: Cash dividend of $1.30 per share in each of the first and second quarters.Lamar Advertising Co  reported a 3.9% increase in revenues on an acquisition-adjust","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"LAMR":"拉马尔户外广告"},"translate_title":"Lamar Advertising Co(LAMR)2024年第二季度收益看涨期权亮点：强劲的程序化销售和……","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"LAMR":1},"content_text":"Revenue Growth: Increased 3.9% on an acquisition adjusted basis.\nEBITDA Growth: Increased 6.3% on an acquisition adjusted basis.\nAdjusted EBITDA Margin: Expanded to 48%, a 100 basis points improvement over Q2 2023.\nAFFO Per Share Growth: Increased 9.5% to $2.80 per share.\nProgrammatic Sales Growth: Increased 73% versus Q2 2023.\nAdjusted Funds From Operations (AFFO): Totaled $213.5 million, up 9.8% from last year.\nCapital Expenditure: Total spend for the quarter was approximately $22.6 million.\nDebt Repayment: Paid off $350 million term loan A.\nDigital Platform Growth: Grew 2.6% on a same-store basis.\nLocal Sales Growth: Increased nearly 5%.\nAirport Business Revenue Growth: Increased 21.7% following 20% growth in Q1.\nInterest Coverage: Expected to end the year north of 6 times adjusted EBITDA to cash interest.\nTotal Liquidity: Approximately $744 million at the end of the quarter.\nDividend: Cash dividend of $1.30 per share in each of the first and second quarters.\n\n\nWarning! GuruFocus has detected 8 Warning Signs with LAMR.\n\nRelease Date: August 08, 2024\nFor the complete transcript of the earnings call, please refer to the full earnings call transcript.\n Positive Points \n\nLamar Advertising Co (NASDAQ:LAMR) reported a 3.9% increase in revenues on an acquisition-adjusted basis, driven by strong demand from local and regional advertisers.\nThe company achieved a 6.3% increase in EBITDA and expanded its adjusted EBITDA margin to 48%, a 100 basis points improvement over the previous year.\nAFFO per share grew by 9.5%, leading management to recommend a Q3 distribution increase to $1.40 per share.\nProgrammatic sales were particularly strong, growing 73% compared to Q2 2023, with new customers in the pharma and CPG sectors.\nLamar Advertising Co (NASDAQ:LAMR) successfully paid off a $350 million term loan, further strengthening its balance sheet, which is already considered the best in the industry.\n\n Negative Points \n\nNational sales continue to be a headwind, with a reported decline of 2.5% in Q2, and expectations of another low single-digit decline in Q3.\nThe healthcare and financial sectors showed relative weakness, with declines of 5.8% and 3.7% respectively.\nDespite strong local and regional sales, the national sales softness remains a challenge for overall revenue growth.\nThe M&A market was quiet, with only $10 million spent on acquisitions in the quarter, and full-year acquisition spending expected to be lower than anticipated.\nThe company anticipates the end of its NOLs (Net Operating Losses) this year, which may lead to upward pressure on dividends and potential special dividends to distribute 100% of taxable income.\n\n Q & A Highlights \nQ: How much of the growth this quarter was due to local absorption of national softness, and does the guidance assume national ad spend accelerates in the back half of the year? A: Sean Reilly, CEO: The guidance assumes low single-digit declines in national, with local taking up the slack. This absorption is a usual phenomenon, where if national is soft, inventory is sold to local customers, causing relative outperformance of local.\nQ: What's driving the outsized strength in programmatic advertising? A: Sean Reilly, CEO: Programmatic for digital out-of-home is growing as a channel embraced by digital buyers. Additionally, large format digital out-of-home is proving more effective than smaller formats, leading to a share shift towards larger formats.\nQ: Is the local-national dichotomy unusual, and is it likely to be permanent? A: Sean Reilly, CEO: It's likely statistical noise. Historically, national and local have moments of strength and weakness, but over time, their growth rates are similar. Current trends are likely temporary and influenced by specific verticals.\nQ: What is the expected timing of NOL usage, and how might it impact the distribution? A: Jay Johnson, CFO: We have about $35 million of NOLs remaining this year, which will be the last year. This will cause upward pressure on the dividend, potentially leading to a special dividend to distribute 100% of taxable income.\nQ: Is the ATM program a normal course of business, or does it indicate potential M&A opportunities? A: Sean Reilly, CEO: The ATM program is normal business practice, renewed regularly. While M&A activity is expected to pick up next year, the current balance sheet provides ample capacity without needing to issue equity.\nFor the complete transcript of the earnings call, please refer to the full earnings call transcript.This article first appeared on \nGuruFocus.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.1","shortVersion":"4.29.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2474278580"}