Lamar Advertising Co (LAMR) Posts Improved Q1 FFO

Lamar Advertising Co (Nasdaq: LAMR) reported Q1 EPS of ($0.05), $0.11 worse than the analyst estimate of $0.06. Revenue for the quarter came in at $284.9 million versus the consensus estimate of $292.4 million.

For the first quarter of 2014, FFO was $60.4 million versus $59.3 million for the first quarter of 2013, a 1.8% increase. AFFO for the first quarter of 2014 was $58.8 million compared to $50.2 million for the same period in 2013, a 17.2% increase.1 Our calculations of FFO and AFFO have not been adjusted to reflect changes to our tax expense that will be made if we qualify and elect to be taxed as a REIT. In which case, our tax expense would be lower than our historical effective tax rates.

Lamar Advertising Co sees Q2 2014 revenue of $331-334 million, versus the consensus at $335 million.

For earnings history and earnings-related data on Lamar Advertising Co (LAMR) click here.

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