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Lamar's (LAMR) Q4 FFO Beats Estimates, Revenues In Line
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Lamar Advertising Co. (LAMR - Free Report) reported fourth-quarter 2016 adjusted funds from operations (“FFO”) of $1.32 per share, surpassing the Zacks Consensus Estimate of $1.21 and higher than the year-ago tally of $1.27.
Net revenue for the quarter increased 8.6% year over year to $386.7 million, almost in line with the Zacks Consensus Estimate.
For full-year 2016, adjusted FFO per share came in at $5, beating the Zacks Consensus Estimate of $4.70. The 2015 adjusted FFO per share was $4.59.
For full-year 2016, net revenue came in at $1.50 billion, almost in line with the Zacks Consensus Estimate. Net revenue for 2015 was $1.35 billion.
Operating income rose to $115.4 million from $104.8 million recorded in the prior-year period. Adjusted earnings before interest, taxes, depreciation and amortization climbed 9.4% year over year to $173.6 million. Moreover, free cash flow increased 7.4% year over year to $111.1 million.
At the quarter end, Lamar had total liquidity of $245.4 million, of which $209.9 million was available under its revolving senior credit facility, and $35.5 million in cash and cash equivalents.
Our Take
Lamar, backed by an improving operational performance, continues to ride the growth trajectory. The company’s diversified tenant base, impressive national footprint and a healthy balance sheet bode well for the long term.
Some real estate companies which are expected to report results next week include Mack-Cali Realty Corporation , EPR Properties (EPR - Free Report) and The St. Joe Company (JOE - Free Report) .
Note: All EPS numbers presented in this write-up represent funds from operations (“FFO”) per share. FFO, a widely used metric to gauge the performance of REITs, is obtained after adding depreciation and amortization and other non-cash expenses to net income.
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Lamar's (LAMR) Q4 FFO Beats Estimates, Revenues In Line
Lamar Advertising Co. (LAMR - Free Report) reported fourth-quarter 2016 adjusted funds from operations (“FFO”) of $1.32 per share, surpassing the Zacks Consensus Estimate of $1.21 and higher than the year-ago tally of $1.27.
Net revenue for the quarter increased 8.6% year over year to $386.7 million, almost in line with the Zacks Consensus Estimate.
For full-year 2016, adjusted FFO per share came in at $5, beating the Zacks Consensus Estimate of $4.70. The 2015 adjusted FFO per share was $4.59.
For full-year 2016, net revenue came in at $1.50 billion, almost in line with the Zacks Consensus Estimate. Net revenue for 2015 was $1.35 billion.
Quarter in Detail
Operating income rose to $115.4 million from $104.8 million recorded in the prior-year period. Adjusted earnings before interest, taxes, depreciation and amortization climbed 9.4% year over year to $173.6 million. Moreover, free cash flow increased 7.4% year over year to $111.1 million.
At the quarter end, Lamar had total liquidity of $245.4 million, of which $209.9 million was available under its revolving senior credit facility, and $35.5 million in cash and cash equivalents.
Our Take
Lamar, backed by an improving operational performance, continues to ride the growth trajectory. The company’s diversified tenant base, impressive national footprint and a healthy balance sheet bode well for the long term.
Lamar currently has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy)stocks here.
Lamar Advertising Company Price, Consensus and EPS Surprise
Lamar Advertising Company Price, Consensus and EPS Surprise | Lamar Advertising Company Quote
Some real estate companies which are expected to report results next week include Mack-Cali Realty Corporation , EPR Properties (EPR - Free Report) and The St. Joe Company (JOE - Free Report) .
Note: All EPS numbers presented in this write-up represent funds from operations (“FFO”) per share. FFO, a widely used metric to gauge the performance of REITs, is obtained after adding depreciation and amortization and other non-cash expenses to net income.
Zacks' Top 10 Stocks for 2017
In addition to the stocks discussed above, would you like to know about our 10 finest buy-and-hold tickers for the entirety of 2017?
Who wouldn't? Last year's market-beating Top 10 portfolio produced 5 double-digit winners. For example, oil and natural gas giant Pioneer Natural Resources and First Republic Bank racked up stellar gains of +44.9% and +44.3% respectively. Now a brand-new list for 2017 has been hand-picked from 4,400 companies covered by the Zacks Rank. See the 2017 Top 10 right now>>