Lamar Advertising Company Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 02, 2023 at 06:00 am EDT
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Lamar Advertising Company reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was USD 542.61 million compared to USD 527.39 million a year ago. Net income was USD 140.02 million compared to USD 146.19 million a year ago. Basic earnings per share from continuing operations was USD 1.37 compared to USD 1.44 a year ago. Diluted earnings per share from continuing operations was USD 1.37 compared to USD 1.44 a year ago.
For the nine months, sales was USD 1,555.08 million compared to USD 1,496.63 million a year ago. Net income was USD 346.68 million compared to USD 372.54 million a year ago. Basic earnings per share from continuing operations was USD 3.4 compared to USD 3.67 a year ago. Diluted earnings per share from continuing operations was USD 3.39 compared to USD 3.66 a year ago.
Lamar Advertising Company is an outdoor advertising company. The Company rents space for advertising on billboards, buses, shelters, benches, logo plates and in airport terminals. The Company operates three types of outdoor advertising displays: billboards, logo signs and transit advertising displays. The Company owns and operates approximately 160,400 billboard advertising displays in 45 states and Canada. It rents its advertising space on two types of billboards: bulletins and posters. In addition to traditional billboards, it also rents space for digital billboards, which are generally located on traffic arteries and city streets. It owns and operates approximately 4,750 digital billboard advertising displays in 43 states and Canada. It also provides logo signs in the United States, operating approximately 23 of the 26 privatized state logo sign contracts. The Company also operates approximately 139,250 logo sign advertising displays in 23 states and the province of Ontario, Canada.
LAMAR ADVERTISING COMPANY 
