Lamar Advertising Boosts FY20 Earnings Outlook - Quick Facts

(RTTNews) - While reporting financial results for the third quarter on Thursday, outdoor advertising company Lamar Advertising Co. (LAMR) raised its earnings and Adjusted Funds From Operations (AFFO) guidance for the full-year 2020 to reflect the expected recovery from the COVID-19 pandemic during the fourth quarter 2020.

For fiscal 2020, the company now projects AFFO per share in the range of $4.65 to $4.85, and earnings in the range of $1.99 to $2.16 per share.

Previously, the company expected AFFO per share in the range of $4.16 to $4.56, and earnings in the range of $1.55 to $1.93 per share.

On average, 5 analysts polled by Thomson Reuters expect the company to report earnings of $1.85 per share for the year. Analysts' estimates typically exclude special items.