Lamar Advertising (NASDAQ: LAMR) reported Q2 EPS of $0.94, $0.06 better than the analyst estimate of $0.88. Revenue for the quarter came in at $397.1 million versus the consensus estimate of $399.41 million.

Revised GuidanceDue to current market conditions, the Company is revising its 2017 full year guidance for Earnings per share and AFFO per share. Net income per diluted share is expected to be between $3.09 and $3.19. Previous Diluted earnings per share guidancehad been $3.13 to $3.28 per share. In addition, Lamar expects Diluted AFFO per share for 2017 to be between $4.90 and $5.00. Previous AFFO per share guidance had been $5.05 to $5.20 per share. See “Supplemental Schedules Unaudited REIT Measures and Reconciliations to GAAP Measures”, for a reconciliation to GAAP.

GUIDANCE:

Lamar Advertising sees FY2017 EPS of $3.09-$3.19, versus the consensus of $3.12.

• Net revenue increased 2.5% to $397.1 million
• Net income was $92.4 million, an increase of 12.8%
• Adjusted EBITDA increased 3.1% to $181.9 million
• Three Month Acquisition-Adjusted Results
  • Acquisition-adjusted net revenue increased 1.7%
  • Acquisition-adjusted EBITDA increased 2.4%

Second Quarter Highlights

• Consolidated expense growth was held to 1.1%
• Same unit digital revenue increased 2.3%
• National revenue increased 4.5%
• Local revenue increased 1.5%

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