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Mar 31, 2023
Lamar Q1 2023 Earnings Report
Net revenue and Adjusted EBITDA increased, while net income decreased due to higher interest expenses.
Key Takeaways
Lamar Advertising Company reported a 4.4% increase in net revenue and a 3.5% increase in Adjusted EBITDA for the first quarter of 2023. However, net income decreased by $16.0 million due to an increase in interest expense.
Net revenue increased by 4.4% to $471.3 million compared to Q1 2022.
Net income decreased to $76.2 million, primarily due to a rise in interest expenses.
Adjusted EBITDA rose by 3.5% to $198.0 million.
Free cash flow decreased by 15.8% to $113.3 million.
Lamar
Lamar
Forward Guidance
Lamar Advertising remains confident in the midpoint of its guidance due to expense management, despite slight softening in business activity in April.