Lamar Advertising Q4 FFO Rises; Sees Higher Earnings In FY21 - Quick Facts

(RTTNews) - Lamar Advertising Co. (LAMR), an operator of outdoor advertising and logo sign displays, on Friday reported fourth quarter funds from operations, or FFO, of $167.6 million, up 4 percent from $161.1 million in the same period last year.

Adjusted FFO came in at $172.1 million or $1.71 per share, compared to $165.4 million or $1.64 per share in the year-ago quarter.

In the fourth quarter, the company posted net income applicable to common stock of $108.6 million or $1.08 per share, up from $102.6 million or $1.02 per share a year ago.

On average, four analysts expected the company to report earnings of $0.78 per share in the quarter. Analysts estimates, usually exclude one-time items. Revenues fell 7.4 percent to $428.5 million from $462.7 million in the same period last year, while analysts were looking for $413.8 million in the quarter.

The company also announced full year 2021 outlook of adjusted FFO per share between $5.20 and $5.50 and net income per share in the range of $2.76-$3.02.

In fiscal 2020, AFFO was $5.10 per share and net income per share was $2.41.

Analysts expect the company to report earnings per share of $2.94 in full year 2021.