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Lamar Advertising Company (NASDAQ:LAMR) reported its results for the second quarter. Lamar Advertising is an outdoor advertising company in the United States that operates three types of outdoor advertising displays: billboards, logo signs, and transit advertising displays.
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Lamar Advertising Company Earnings Cheat Sheet
Results: Net income for Lamar Advertising Company rose to $13.9 million (15 cents per share) vs. $11.4 million (12 cents per share) in the same quarter a year earlier. This marks a rise of 21.7% from the year-earlier quarter.
Revenue: Rose 3.9% to $304.9 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Lamar Advertising Company fell in line with the mean analyst estimate of 15 cents per share. It beat the average revenue estimate of $264.7 million.
Revenue has risen the past four quarters. Revenue increased 4.3% to $266.2 million in the first quarter. The figure rose 4.6% in the fourth quarter of the last fiscal year from the year earlier and climbed 3.7% in the third quarter of the last fiscal year from the year-ago quarter.
The company met estimates last quarter after toppling them in the two previous quarters. In the first quarter, it topped the mark by 10 cents, and in the fourth quarter of the last fiscal year, it was ahead by 7 cents.
The company reported a profit last quarter, following a quarter of being in the red. The company booked a net loss of $6.4 million, or 7 cents per share, in the fourth quarter of the last fiscal year.
Looking Forward: Analysts appear increasingly optimistic about the company’s results for the next quarter. The average estimate for the third quarter has moved up from 15 cents a share to 16 cents over the last ninety days. The average estimate for the fiscal year is 16 cents per share, down from 26 cents ninety days ago.
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(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)
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