LAMR Reports Fourth Quarter Financial Results
BATON ROUGE, La. (AP) - Lamar Advertising Co. (LAMR) announced its fourth quarter profitability metrics on Thursday.
The Baton Rouge, Louisiana-based real estate investment trust reported funds from operations (FFO) of $226.5 million, or $2.21 per share, for the period. FFO is a key indicator of profitability in the REIT industry and includes net income plus non-cash expenses like depreciation and amortization.
Despite the positive FFO, Lamar reported a net loss of $1.3 million, or 1 cent per share, for the quarter.
The outdoor and transit advertising company generated revenue of $579.6 million during the quarter. For the full year, Lamar reported FFO of $819 million and revenue of $2.21 billion.
Looking ahead, Lamar anticipates full-year FFO in the range of $8.13 to $8.28 per share.