NewsNovo
Lamar Advertising Company (NASDAQ: LAMR) posted second-quarter net revenues of $616.7 million on August 6, up 6.5% from $579.3 million a year earlier, and raised its full-year diluted adjusted funds from operations per share guidance to a range of $8.75 to $8.90.
What complicates the picture is a six-month comparison dragged down by a non-recurring gain, and a valuation that already assumes nothing goes wrong.
Why the organic argument holds The mechanism behind the guidance raise matters. Strip out acquisitions and divestitures and acquisition-adjusted net revenue still rose 6.1%, while acquisition-adjusted EBITDA gained 7.3%.
The business Lamar already owned did the lifting. That translated into adjusted EBITDA of $303.4 million, up 9.0% from $278.4 million a year earlier, growing faster than revenue.
Keep reading