Lamar Q3 2022 Earnings Report
Key Takeaways
Lamar Advertising Company reported increased net revenues and operating income for the third quarter ended September 30, 2022. Net revenue increased by 10.6% to $527.4 million, and operating income increased by 35.7% to $181.0 million. Net income was $146.2 million, compared to $106.8 million for the same period in 2021.
Net revenue increased by 10.6% compared to the third quarter of 2021.
Operating income increased by 35.7% compared to the third quarter of 2021.
Net income increased to $146.2 million, up from $106.8 million in the same period last year.
Diluted AFFO per share increased 6.8% to $2.03.
Lamar
Lamar
Forward Guidance
The company expects expense growth to normalize in the fourth quarter and into 2023 and is tracking to the top of previously provided guidance for full-year diluted AFFO per share.