Q4 2024 Lamar Advertising Co Earnings Call Transcript
Key Points
- Lamar Advertising Co (LAMR) reported a 4.1% increase in revenue on an acquisition-adjusted basis for Q4 2024 compared to Q4 2023.
- The company achieved a full-year AFFO per share of $7.99, exceeding the top end of their revised guidance.
- Lamar Advertising Co (LAMR) increased its distribution by 13% for the year.
- The company plans to deploy at least 350 new digital displays in 2025, indicating a strong commitment to expanding its digital footprint.
- Lamar Advertising Co (LAMR) successfully divested its 20% interest in Vistar Media, resulting in a significant return on investment.
- The company's 2025 AFFO guidance was below Street estimates, attributed to lower expected net income and higher maintenance CapEx.
- Depreciation and amortization expenses increased significantly due to a revision in asset retirement obligations, impacting financial results.
- Lamar Advertising Co (LAMR) faces challenges in replacing political advertising revenue, which was substantial in Q4 2024.
- National advertising growth has lagged behind peers, partly due to Lamar's footprint not being as robust in top DMAs like New York and L.A.
- The company anticipates a modest revenue growth of 3% in 2025, which is lower than some industry estimates for out-of-home ad revenue growth.
Excuse me, everyone. We now have Sean Reilly and Jay Johnson in conference. (Operator Instructions)
In the course of this discussion, Lamar may make forward-looking statements regarding the company, including statements about its future financial performance, strategic goals, plans, and objectives, including with respect to the amount and timing of any distributions to stockholders and the impacts and effects of general economic conditions, including inflationary pressures on the company's business, financial condition, and results of operations. All forward-looking statements involve risks, uncertainties, and contingencies, many of which are beyond Lamar's control, and which may cause actual results to differ materially from anticipated results.
Lamar has identified important factors that could cause actual results to differ materially from those discussed in this call in the company's fourth-quarter 2024 earnings release and its most recent annual report on Form 10-K. Lamar refers you to those documents.
Lamar's fourth-quarter 2024 earnings release, which contains information
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