Lamar: Q2 Earnings Snapshot

August 3, 2022 GMT

BATON ROUGE, La. (AP) _ Lamar Advertising Co. (LAMR) on Wednesday reported a key measure of profitability in its second quarter.

The Baton Rouge, Louisiana-based real estate investment trust said it had funds from operations of $196.9 million, or $1.94 per share, in the period.

Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.

The company said it had net income of $134.1 million, or $1.32 per share.

The outdoor and transit advertising company, based in Baton Rouge, Louisiana, posted revenue of $517.9 million in the period.

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