Lamar Advertising Reports Strong Q3 2026 Results and Raises Full-Year Guidance
Lamar Advertising (LAMR) delivered robust third-quarter results, characterized by a 6.6% increase in net revenues to $624.5 million. Growth was primarily fueled by strong demand from national advertisers, high performance in digital platforms, and significant political advertising spend. The company also achieved record-breaking monthly revenue in October, reaching $232 million. Driven by these results, management raised its full-year Adjusted Funds From Operations (AFFO) guidance to a midpoint of $8.92 per share. Key growth drivers included a nearly 20% surge in national revenue and a 42.4% jump in programmatic revenue. Despite an active acquisition period involving 54 billboard purchases year-to-date, the company maintained a healthy net debt-to-EBITDA leverage ratio of 2.84x.
Topics: digital revenue EBITDA guidance revision political advertising revenue growth