Lamar Advertising Q3 Profit Rises - Quick Facts

(RTTNews) - Lamar Advertising Company (LAMR) reported that its third-quarter net income applicable to common stock rose to $35.0 million or $0.37 per share, from $17.0 million or $0.18 per share, last year.

Funds From Operations or FFO rose to $93.5 million from $86.3 million last year. Adjusted Funds From Operations or AFFO for the latest third quarter was 109.5 million or $1.14 per share, compared to $97.3 million or $1.02 per share in the prior year.

On average, 10 analysts polled by Thomson Reuters expected the company to report profit per share of $0.37 for the quarter. Analysts' estimates typically exclude special items.

Net revenues increased 4.3% to $335.01 million from $321.14 million, a year ago, while adjusted net revenue increased 3.0% to $332.79 million from $323.18 million in the comparable quarter last year. Analysts expected revenue of $332.32 million for the quarter.

For the fourth quarter of 2014, the company expects adjusted net revenue to be approximately $323.0 million to $326.0 million. Analysts expect the company to report fourth-quarter revenue of $326.66 million.