Lamar: 2Q Earnings Snapshot

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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 $96.1 million, or 95 cents 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 $31.3 million, or 31 cents per share.

The outdoor and transit advertising company, based in Baton Rouge, Louisiana, posted revenue of $347.7 million in the period.

Lamar expects full-year funds from operations in the range of $4.16 to $4.56 per share.

The company's shares have fallen 27% since the beginning of the year. The stock has decreased 16% in the last 12 months.


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