Lamar Advertising Q1 Net Loss Narrows - Quick Facts

(RTTNews) - Lamar Advertising Co. (LAMR), a provider of billboards and logo signs, Wednesday reported a narrower net loss for the first quarter, mainly reflecting higher revenues, lower non-cash compensation and interest expense.

For the three months to March, net loss narrowed to $4.93 million or $0.05 per share, from a loss of $10.35 million or $0.11 per share a year earlier.

On average, 11 analysts polled by Thomson-Reuters estimated the company's earnings to be $0.06 for the quarter. Analysts' estimates typically exclude one-time items.

Non-cash compensation decreased to $3.9 million from $10.77 million last year, and interest expense dipped to $30.27 million from $36.7 million a year ago.

The company also reported Funds From Operations, or FFO, of $60.39 million for the first quarter, up from $59.32 a year ago. Excluding certain items, FFO was $58.81 million, compared with $50.19 million last year.

During the period, adjusted EBITDA was $104.38 million, up from $103.1 million a year ago.

Net revenues for the 3-month period rose to $284.9 million from $276.6 million in the same quarter last year. Analysts expected revenues of $292.18 million.