Lamar Advertising Q4 EPS Misses by 4.5%, Revenue Climbs 2.8%
Lamar Advertising posted Q4 EPS of $1.50, $0.07 below estimates, while revenue rose 2.8% to $595.9 million, topping forecasts. For 2026, it projects EPS of $5.72–$5.83 below consensus and AFFO of $8.50–$8.70, reflecting confidence in cash flow despite softer earnings outlook.
1. Fourth-Quarter Financial Results
Lamar Advertising reported Q4 EPS of $1.50, missing estimates by $0.07, and generated revenue of $595.9 million, a 2.8% year-over-year increase that topped the $591.9 million forecast. Net income reached $154.7 million, reversing a prior-year loss, while adjusted EBITDA rose 3.7% to $288.9 million.
2. Full-Year 2025 Performance
Full-year 2025 revenue increased 2.7% to $2.27 billion, with net income climbing to $593.1 million and adjusted EBITDA hitting $1.06 billion. Diluted AFFO per share grew 3.4% to $8.26, reflecting steady cash flow expansion.
3. 2026 Guidance and Outlook
Management expects 2026 EPS of $5.72 to $5.83, below the consensus of $5.91, while guiding diluted AFFO per share between $8.50 and $8.70. CEO Sean Reilly highlighted ongoing sales momentum and promising pacings for both local and national advertising.
4. Digital Investment and Growth Strategy
With over 360,000 displays, including 5,500 digital billboards, Lamar continues investing in digital deployment to drive organic growth. The company emphasizes disciplined capital allocation and aims to leverage improving sales trends into higher cash flow generation.