WASHINGTON (dpa-AFX) - While reporting financial results for the fourth quarter on Wednesday, outdoor advertising company Lamar Advertising Co. (LAMR) initiated earnings and Adjusted Funds From Operations (AFFO) guidance for the full-year 2020.
For fiscal 2020, the company now projects AFFO per share in the range of $6.05 to $6.20, and earnings in the range of $3.55 to $3.69 per share.
On average, 4 analysts polled by Thomson Reuters expect the company to report earnings of $3.81 per share for the year. Analysts' estimates typically exclude special items.
'Looking forward to 2020, our coast-to-coast platform, expanding digital footprint and best-in-class balance sheet, coupled with robust fundamentals in the out-of-home industry, have us well positioned for futher growth in sales, EBITDA and Diluted AFFO per share,' CEO Sean Reilly said.
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