Earnings Releases·Nov 5, 2026, 6:52 AM ET

Lamar Advertising Company — Third Quarter 2026 Earnings Summary

Net revenues for Q3 2026 rose 6.6% year-over-year to $624.5 million, while net income and diluted EPS increased 14.5% and 13.6% respectively to $165.0 million and $1.59; Adjusted EBITDA grew 9.3% to $306.9 million and Free Cash Flow increased $30.9 million to $220.1 million.
Full-year 2026 guidance was raised, with diluted EPS guidance increased to $6.01–$6.04 and diluted AFFO per share guidance increased to $8.87–$8.97, driven by sales growth acceleration from national customers, digital platforms, and political spend.
Liquidity stood at $721.1 million as of September 30, 2026, comprising $667.0 million available under the revolving credit facility and $54.1 million in cash, while outstanding debt included $75.0 million on the revolving facility and $250.0 million on the Accounts Receivable Securitization Program.
On October 1, 2026, the company amended its Receivables Financing Agreement to extend the maturity of the Accounts Receivable Securitization Program to October 1, 2029, and added flexibility regarding eligible receivables.