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Lamar: Q1 Earnings Snapshot

By AP News - May 04, 2023, 06:24 AM ET

Last Updated - Jun 21, 2023, 11:00 PM EDT

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

The real estate investment trust, based in Baton Rouge, Louisiana, said it had funds from operations of $144.1 million, or $1.41 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 $76 million, or 74 cents per share.

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