Lamar Advertising Lifts FY21 Net Income, AFFO Outlook
WASHINGTON (dpa-AFX) - While reporting weak first-quarter results, Lamar Advertising Co. (LAMR) said it is raising fiscal 2021 outlook to reflect the expected continued recovery from the COVID-19 pandemic during 2021.
For the year, the company now expects net income per share between $2.96 and $3.12, with Adjusted Funds From Operations or AFFO per share between $5.40 and $5.60.
The company previously expected net income per share in the range of $2.76-$3.02 and AFFO per share between $5.20 and $5.50.
In fiscal 2020, net income per share was $2.41 and AFFO was $5.10 per share.
On average, four analysts polled by Thomson Reuters expect earnings of $3.02 per share for the year. Analysts' estimates typically exclude special items.