Lamar Advertising Q2 Profit Surges - Quick Facts

(RTTNews) - Lamar Advertising Co. (LAMR) Thursday said its second-quarter attributable net income surged to $59.3 million from $15.3 million in the previous year. Net income per share was $0.61, compared to $0.16 last year.

On average, ten analysts polled by Thomson Reuters expected earnings of $0.75 per share for the quarter. Analysts' estimates typically exclude special items.

Net revenues increased to $344.2 million from $330.4 million in the previous year. Analysts expected revenues of $342.74 million.

AFFO per share was $1.22, compared to $1.08 last year.

Lamar chief executive Sean Reilly said, "We delivered solid second-quarter results, led by our local billboard sales and continued discipline on operating expenses. This in turn contributed to a strong FFO and AFFO growth for the quarter."