Welcome to our dedicated page for Lamar Advertising Co news (Ticker: LAMR), a resource for investors and traders seeking the latest updates and insights on Lamar Advertising Co stock.
Lamar Advertising Company (NASDAQ: LAMR) is an outdoor advertising REIT that rents space on billboards, buses, shelters, benches, logo plates and in airport terminals. The company also offers customers services that cover ad copy production, placement and maintenance, and it reports that key revenue is generated from its billboard segment. Its public communications describe it as a leading owner and operator of outdoor advertising and logo sign displays.
This news page aggregates Lamar Advertising Company updates drawn from press releases and related SEC filings. Readers can find announcements on quarterly and year-to-date operating results, including net revenues, net income, adjusted EBITDA, funds from operations (FFO), adjusted funds from operations (AFFO) and free cash flow. The company also reports acquisition-adjusted revenue and EBITDA to show the impact of acquired or divested out-of-home assets, as well as gains from transactions such as the sale of its equity interest in Vistar Media, Inc.
Investors following LAMR news will see regular disclosures on dividend declarations for Class A and Class B common stock, including quarterly and special cash dividends. The page also captures financing and balance sheet developments, such as institutional private placements of senior notes due 2033, amendments to the senior credit agreement establishing new Term B Loan facilities, and changes in liquidity and borrowing under the revolving credit facility and accounts receivable securitization program.
In addition, Lamar’s news includes information on acquisitions of out-of-home assets, such as the contribution of Verde Outdoor billboard faces to its operating partnership, and leadership updates like the appointment of a president for its Outdoor Division. Conference participation and earnings release schedules are also disclosed. Bookmark this page to review Lamar Advertising Company’s historical announcements, financial updates and corporate actions in one place.
Lamar Advertising Company (NASDAQ: LAMR) reported a 22.5% decrease in net revenue for Q2 2020, totaling $347.7 million, compared to Q2 2019. Net income also fell by 87% to $31.4 million. Adjusted EBITDA declined 35.9% to $133.2 million. For the first six months, net revenue decreased 9.5% year-over-year, reaching $754.2 million. In response to COVID-19, Lamar enhanced liquidity to $1.1 billion and revised 2020 forecasts, projecting net income per diluted share between $1.55 and $1.93.
Lamar Advertising Company (LAMR) will announce its second quarter earnings for the period ending June 30, 2020, on August 6, 2020, before market opening. A conference call will follow at 8:00 a.m. Central Time to discuss the results and answer operational questions. Investors can join the call by dialing 1-334-777-6991 with the passcode 65248056. The conference call will also be available through a live webcast on Lamar's website, with replay options provided until August 9, 2020.
Lamar Advertising Company (Nasdaq: LAMR) has declared a quarterly dividend of $0.50 per share, payable on June 30, 2020. Stockholders of record on June 22, 2020 will receive this dividend. The board emphasized the uncertainty in the business trajectory for 2020, leading to this adjusted dividend from the previous $1.00 per share paid on March 31, 2020. The company plans to evaluate its dividend strategy quarterly, prioritizing liquidity and operating conditions while committing to distribute at least 90% of full-year taxable income as a REIT.
Lamar Advertising Company (Nasdaq: LAMR) has relocated its 2020 Annual Meeting of Stockholders to a virtual format due to COVID-19 concerns. Scheduled for May 28, 2020, at 9:00 a.m. CT, stockholders must register by May 25, 2020, to participate. Voting can be done electronically during the meeting, and stockholders are encouraged to submit proxies in advance. An informal Q&A will follow the meeting, allowing stockholders to engage with management. The company, a leader in outdoor advertising, operates over 390,000 displays across North America.
Lamar Advertising Company (NASDAQ: LAMR) has announced a private placement of $400 million in 4 7/8% Senior Notes due 2029. The net proceeds are estimated to be around $394.5 million and will primarily be used to repay existing debt under its credit facility, with any remaining funds allocated for working capital or general corporate purposes. The offering is expected to close around May 13, 2020, subject to standard closing conditions.
Lamar Advertising Company (Nasdaq: LAMR) is planning to raise approximately $400 million through a private placement of senior notes by its subsidiary, Lamar Media Corp. The funds will primarily be used to repay existing debt under the revolving portion of its senior credit facility. Any remaining proceeds will support general corporate purposes or working capital needs. The offering is subject to market conditions and is directed at qualified institutional buyers, with no registration under the Securities Act.
Lamar Advertising Company (Nasdaq: LAMR) announced that CEO Sean Reilly will speak at the J.P. Morgan Global Technology, Media and Communications Conference on May 12, 2020, at 2:50 p.m. (ET). The session will be available via live audio webcast on the company's website and archived for 30 days. Lamar Advertising, founded in 1902, is a leading outdoor advertising firm with over 390,000 displays across the U.S. and Canada, including more than 3,600 digital billboards, catering to both local and national advertisers.