Lamar Advertising : Non-GAAP ReconciliationsPDF Financial Results (b6472034 c865 43eb b9fe 64da16a30da0)
LAMR
Published on 05/21/2025 at 06:15
Lamar Advertising Co.
LTM
March 31,
2025
2024
2025
Three Months Ended March 31,
Twelve Months Ended December 31,
2024
Reconciliation of Net Income to Adjusted EBITDA:
UNAUDITED RECONCILIATONS OF NON-GAAP MEASURES (IN THOUSANDS)
$ 362,939
$ 139,229
$ 78,499
$ 423,669
270
-
-
270
Net Income
Interest expense (income), net
169,394
37,840
44,020
163,214
Equity in earnings of investee
(5,094)
(380)
559
(6,033)
Income tax expense
4,531
14,544
1,522
17,553
Stock based compensation
44,525
10,577
14,466
40,636
Capitalized contract fulfillment costs, net
(317)
375
(184)
242
Depreciation and amortization
462,967
77,821
75,228
465,560
Gain on disposition of assets
(6,057)
(69,785)
(2,188)
(73,654)
Adjusted EBITDA
1,033,158
210,221
211,922
1,031,457
Net Income and Adjusted EBITDA Margins: Net Revenues
2,207,103
Net Income
362,939
Net Income Margin (Net Income / Net Revenues)
16.4%
Adjusted EBITDA
1,033,158
Adjusted EBITDA Margin (Adjusted EBITDA / Net Revenues)
46.8%
UNAUDITED REIT MEASURES AND RECONCILIATIONS TO GAAP MEASURES (IN THOUSANDS, EXCEPT SHARE AND PER SHARE DATA)
Adjusted Funds from Operations
Twelve Months Ended December 31: 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014
Loss on extinguishment of debt
Net Income $ 362,939
$ 496,836
$ 438,647
$ 388,090
$ 243,386
$ 372,111
$ 305,232
$ 317,676
$ 298,809
$ 262,570
$ 253,518
Depreciation and amortization related to real estate
446,844
281,026
337,387
259,933
238,932
235,802
212,457
198,630
190,964
176,132
241,294
Gain from sale or disposal of real estate, net of tax
(5,784)
(5,201)
(15,415)
(1,865)
(5,790)
(6,775)
8,689
(4,185)
(14,789)
(8,467)
(2,681)
Non-Cash tax benefit for REIT converted assets
-
-
-
-
-
(17,031)
-
-
-
-
-
One time adjustment to taxes related to REIT conversion
-
-
-
-
-
-
-
-
-
-
(120,081)
Adjustments for unconsolidated affiliates and non-controlling interes (5,581)
(4,769)
(3,631)
(2,756)
629
771
648
839
605
631
695
Funds from operations $ 798,418
$ 767,892
$ 756,988
$ 643,402
$ 477,157
$ 584,878
$ 527,026
$ 512,960
$ 475,589
$ 430,866
$ 372,745
Straight-line expense 4,079
4,658
3,986
2,443
3,597
(361)
(2,036)
(754)
255
463
(841)
ASC 842 Adjustment
-
-
-
-
-
3,894
-
-
-
-
-
Capitalized contract fulfillment costs, net
(317)
(308)
(555)
(445)
387
(9,186)
-
-
-
-
-
Stock-based compensation expense
44,525
22,649
23,136
37,368
18,772
29,647
29,443
9,599
28,560
25,890
24,120
Non-cash portion of tax provision
(4,036)
2,384
3,212
1,574
(797)
2,901
660
804
(343)
11,099
(2,056)
Gain from sale of airplane
-
-
-
-
(3,197)
-
-
-
-
-
-
Non-real estate related depreciation and amortization
16,123
12,397
12,062
11,361
12,364
14,226
12,804
12,474
13,994
15,301
17,141
Amortization of deferred financing costs
6,332
6,538
6,158
5,877
5,909
5,365
4,920
5,120
5,333
4,682
4,777
Loss on debt extinguishment
270
115
-
21,604
25,235
-
15,429
71
3,198
-
26,023
Loss from other-than-temporary-investment
-
-
-
-
-
-
-
-
-
-
4,069
Transaction Expenses
-
-
3,769
-
-
-
-
-
-
-
-
Capitalized expenditures-maintenance
(51,986)
(58,820)
(62,659)
(58,196)
(24,028)
(49,155)
(43,108)
(43,119)
(37,090)
(45,605)
(56,820)
Adjustments for unconsolidated affiliates and non-controlling interes
5,581
4,769
3,631
2,756
(629)
(771)
(648)
(839)
(605)
(631)
(695)
Adjusted funds from operations
$ 818,989
$ 762,274
$ 749,728
$ 667,744
$ 514,770
$ 581,438
$ 544,490
$ 496,316
$ 488,891
$ 442,065
$ 388,463
Divided by weighted average diluted common shares outstanding
102,561,151
102,106,647
101,634,543
101,349,865
100,902,700
100,320,574
99,086,160
98,369,865
97,693,424
96,375,130
95,284,126
Diluted AFFO per share
$ 7.99
$ 7.47
$ 7.38
$ 6.59
$ 5.10
$ 5.80
$ 5.50
$ 5.05
$ 5.00
$ 4.59
$ 4.08
Disclaimer
Lamar Advertising Company published this content on May 21, 2025, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on May 21, 2025 at 10:14 UTC.