Lamar Advertising reported third quarter 2026 results that exceeded analyst estimates, driven by a surge in political advertising and robust demand from national customers. Net revenues grew 6.6% year-over-year, while the company successfully leveraged its digital platform to expand margins and raise its full-year outlook.
Key Highlights
- Net revenues reached $624.5 million, surpassing the $621.7 million estimate, aided by midterm election cycles and digital display expansion.
- Diluted AFFO per share rose 9.5% to $2.41, significantly beating the anticipated $2.23 per share as margin expansion exceeded projections.
- Management raised full-year 2026 guidance for diluted AFFO per share to a range of $8.87 to $8.97, up from previous internal forecasts.
- Adjusted EBITDA increased 9.3% to $306.9 million, reflecting improved operating leverage across the billboard and logo sign portfolio.