Q1 2025 Lamar Advertising Co Earnings Call Transcript
Key Points
- Lamar Advertising Co (LAMR) achieved its 16th consecutive quarter of acquisition adjusted revenue growth, with a 1.1% increase.
- Programmatic revenue saw a significant year-over-year increase of nearly 30%, contributing positively to overall performance.
- Digital billboard revenue increased by 4%, accounting for approximately 30% of total billboard revenue.
- The company successfully repurchased $150 million of its stock, indicating strong confidence in its market position.
- Lamar Advertising Co (LAMR) maintained a strong balance sheet with a total leverage of 2.85 times net debt to EBITDA, one of the lowest levels for the company.
- National revenue was slightly down year-over-year, indicating some weakness in this segment.
- Adjusted EBITDA decreased by 80 basis points compared to the previous year, reflecting a slight decline in profitability.
- The Southwest region experienced flat year-over-year growth, showing regional disparities in performance.
- Categories such as gaming, restaurants, and amusement showed relative weakness, impacting overall revenue growth.
- Acquisition adjusted consolidated expenses increased by 2.6% in the first quarter, slightly better than anticipated but still a concern for cost management.
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 first-quarter 2025 earnings release and its most recent annual report on Form 10-K. Lamar refers you to those documents.
Lamar's first-quarter 2025 earnings release, which contains information
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