Lamar: Q2 Earnings Snapshot

Associated Press Finance
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BATON ROUGE, La. (AP) — BATON ROUGE, La. (AP) — Lamar Advertising Co. (LAMR) on Thursday reported a key measure of profitability in its second quarter.

The Baton Rouge, Louisiana-based real estate investment trust said it had funds from operations of $194.4 million, or $1.90 per share, in the period.

Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.

The company said it had net income of $130.5 million, or $1.28 per share.

The outdoor and transit advertising company, based in Baton Rouge, Louisiana, posted revenue of $541.1 million in the period.

Lamar expects full-year funds from operations in the range of $7.13 to $7.28 per share.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on LAMR at https://www.zacks.com/ap/LAMR

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