Roundup: Lamar results / Police reform / Vaccine goal
Q1: Baton Rouge-based Lamar Advertising Company today announced its operating results for the first quarter ended March 31, 2021. “The advertising rebound is well underway,” Lamar CEO Sean Reilly says in a prepared statement. “Both local and national sales activity have accelerated, with digital showing particular strength.” First-quarter highlights include: Total operating expenses decreased 9%, free cash flow increased 10.6%, and the diluted AFFO per share increased 2.7%. See the report.
Bill advances: A bill that would dismantle qualified immunity for police officers, a critical component of the Louisiana Legislature’s police reform agenda, advanced out of the House Committee on Civil Law and Procedure on Monday, according to
Lamar Advertising Company Announces First Quarter Ended March 31, 2021 Operating Results
May 04, 2021 06:00 ET | Source: Lamar Advertising Company Lamar Advertising Company
Three Month Results
Net income was $38.3 million
Adjusted EBITDA was $152.4 million
BATON ROUGE, La., May 04, 2021 (GLOBE NEWSWIRE) Lamar Advertising Company (Nasdaq: LAMR), a leading owner and operator of outdoor advertising and logo sign displays, announces the Company’s operating results for the first quarter ended March 31, 2021.
“The advertising rebound is well underway, Lamar chief executive Sean Reilly said. Both local and national sales activity have accelerated, with digital showing particular strength. In fact, bookings in March and April for the rest of 2021 handily exceeded bookings in the same months of 2019 for the rest of that year. As a result, we are raising our previously provided guidance for full year diluted AFFO per share to a range of $5.40 t
Excuse me, everyone. We now have Sean Reilly and Jay Johnson in conference. [Operator Instructions]
In the course of this discussion, Lamar may make forward-looking statements regarding the Company, including statements about its future financial performance, strategic goals, plans and objectives, including with respect to the amount and timing of any distributions to stockholders and the impacts and effects of the COVID-19 pandemic on the Company s business, financial conditions and results of operations. All forward-looking statements involve risk, uncertainties and contingencies, many of which are beyond Lamar s control and which may cause actual results to differ materially from anticipated results. Lamar has identified important factors that could cause actual results to differ materially from those discussed in this call, in the Company s first quarter 2021 earnings release and its most recent annual report on Form 10-K. Lamar refers you to those documents.
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.