Lamar Advertising Issues FY22 Guidance

(RTTNews) - Lamar Advertising Company (LAMR) announced the company expects net income per share for fiscal 2022 to be between $4.83 and $4.90, with AFFO per share between $7.03 and $7.18. Analysts polled by Thomson Reuters expect the company to report profit per share of $4.71. Analysts' estimates typically exclude special items.

On February 24, 2022, Lamar declared a quarterly cash dividend of $1.10 per common share to its Class A and Class B stockholders to be paid on March 31, 2022. The company expects aggregate quarterly dividends to Class A and Class B stockholders will be $4.40 per common share, including the dividend payable on March 31, 2022.

Lamar reported fourth quarter net income of $123.3 million compared to $108.7 million, last year. Net income per share was $1.21 compared to $1.08. AFFO per share increased 4.1% to $1.78 from $1.71.

Analysts on average had expected the company to earn $1.18 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

Lamar reported net revenues of $494.6 million for the fourth quarter compared to $428.5 million, a year ago, a 15.4% increase.