Welcome to our dedicated page for Lamar Advertising news (Ticker: LAMR), a resource for investors and traders seeking the latest updates and insights on Lamar Advertising stock.
Lamar Advertising Company operates as an outdoor advertising company and real estate investment trust focused on billboard, logo sign, and transit advertising assets. News about LAMR commonly covers operating results, local and national advertising demand, acquisition-adjusted revenue trends, Adjusted EBITDA, AFFO, and updates tied to its outdoor display portfolio.
Recurring company developments also include cash dividends on Class A and Class B common stock, stock and debt repurchase authorizations, acquisitions of outdoor advertising assets, and appearances at media, communications, and property industry conferences.
Lamar Advertising Company (Nasdaq: LAMR) has announced the extension of its stock and debt repurchase programs, allowing up to $250 million in Class A common stock and $250 million in senior notes buybacks. Initially set to expire on September 30, 2021, these programs are now extended through March 31, 2023. No repurchases have been made under the current programs, which provide flexibility based on market conditions.
Lamar Advertising Company (Nasdaq: LAMR) has announced a quarterly cash dividend of $1.00 per share, payable on September 30, 2021, to shareholders of record on September 20, 2021. This reflects the company's ongoing commitment to returning value to shareholders. Established in 1902, Lamar is one of North America's largest outdoor advertising firms, boasting approximately 352,000 displays across the U.S. and Canada. The company also operates the largest network of digital billboards in the U.S., with over 3,700 digital displays.
Lamar Advertising Company (NASDAQ: LAMR) reported strong financial results for Q2 2021, with net revenue of $445.1 million, up 28.0% from Q2 2020. Net income surged to $119.6 million, reflecting an increase of $88.2 million. Adjusted EBITDA rose by 60.3% to $213.5 million. For the first half of the year, net revenue reached $815.9 million, up 8.2%, and net income was $157.9 million. Management raised the guidance for diluted AFFO per share to $6.10-$6.30 and proposed a quarterly dividend increase to $1.00 per share.
Lamar Advertising Company (NASDAQ: LAMR) announced an exchange offer for all $550 million of its outstanding 3 5/8% Senior Notes due 2031. The Original Notes will be exchanged for newly issued Exchange Notes that are registered under the Securities Act, facilitating their transferability. The exchange aims to fulfill obligations under a registration rights agreement and will not yield any proceeds for Lamar Media. The deadline for tendering Original Notes is September 1, 2021.
Lamar Advertising Company (Nasdaq: LAMR) announced the appointment of Sukhvinder Singh as Senior Vice President of Technology and Innovation. Previously with Host Hotels & Resorts, Singh will oversee the integration of technology into operations to enhance productivity and customer engagement. CEO Sean Reilly emphasized the importance of innovation and Singh's experience in driving insights and growth, particularly in programmatic advertising. Lamar, founded in 1902, operates over 351,000 displays across North America, including the largest network of digital billboards.
Lamar Advertising has partnered with Grocery TV to create a unified advertising solution that enables brands to run campaigns in grocery stores and on large-format digital billboards. This Private Marketplace deal aims to enhance consumer engagement by reaching audiences in key markets like Los Angeles, Phoenix, and Dallas-Fort Worth. Grocery TV reported significant increases in foot traffic, with 170% on Memorial Day and 219% on the 4th of July. As the economy reopens, the partnership seeks to simplify planning for advertisers targeting consumers during the upcoming holiday season.
Vistar Media has secured a $30M Series B funding round from Lamar Advertising Company (LAMR), emphasizing the need for technological growth in the out-of-home (OOH) advertising sector. The investment aims to enhance Vistar's product innovation, international expansion, and financial stability. Lamar will obtain a minority stake and a board seat, reflecting a strong partnership that has evolved over eight years. Vistar’s technology powers major digital signage networks, providing critical tools for optimizing revenue through its sophisticated software platforms.
Lamar Advertising Company (NASDAQ: LAMR) has invested $30 million in Vistar Media, a leader in programmatic technology for digital out-of-home advertising. This minority stake aims to bolster Vistar's balance sheet and support its R&D efforts while expanding into new markets. As part of the deal, Lamar secures a seat on Vistar's Board of Directors. Lamar's CEO, Sean Reilly, expressed confidence in Vistar's innovation and leadership, viewing this investment as a strategic move to enhance the out-of-home media landscape.
Vistar Media, a leader in programmatic technology for digital out-of-home, has secured $30M in Series B funding from Lamar Advertising Company (Nasdaq: LAMR). This investment signifies a strong partnership aimed at driving growth in the out-of-home (OOH) industry through technological advancements. Lamar will acquire a minority equity stake in Vistar and a board seat. The funds will support Vistar's product innovation, international expansion, and financial stability, enhancing its position as a key player in digital signage management.
Lamar Advertising Company (NASDAQ: LAMR) will release its Q2 earnings report for the period ending June 30, 2021, before market opening on August 5, 2021. A conference call is scheduled for the same day at 8:00 a.m. Central time to discuss results and address inquiries about company operations. Investors can access the call by dialing 1-334-777-6991 or 1-800-338-4880 with the passcode 65248056. Replay options are available until August 12, 2021. Further information can be accessed on Lamar's website.