Lamar Advertising (NASDAQ: LAMR) reported Q2 EPS of $1.02, $0.06 better than the analyst estimate of $0.96. Revenue for the quarter came in at $419.8 million versus the consensus estimate of $417.06 million.

“We are very pleased by our revenue growth in the second quarter, which demonstrates that outdoor advertising remains a core communications platform for top businesses,” said Chief Executive Sean Reilly. “Our sales pacings for the third quarter are similarly encouraging; therefore, we are increasing the range for full year AFFO per share guidance in the revised guidance section of this press release.”

The Company is revising its 2018 full year guidance for AFFO and Earnings per share. Lamar expects Diluted AFFO per share for 2018 to be between $5.30 and $5.40, as compared to our previous guidance range of $5.15 and $5.30. In addition, Earnings per diluted share is expected to be between $2.94 and $3.04, as compared to our previous guidance range of $2.96 to $3.11. The revised Earnings per diluted share guidance includes losses of approximately $0.08 per share for the divestiture of our Puerto Rico operations, which were not previously projected in our original guidance. See “Supplemental Schedules Unaudited REIT Measures and Reconciliations to GAAP Measures”, for a reconciliation to GAAP.

GUIDANCE:

Lamar Advertising sees FY2018 EPS of $2.94-$3.04, versus the consensus of $3.04.

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