WASHINGTON (dpa-AFX) - Lamar Advertising Company (LAMR) reported first quarter funds from operations, or FFO, of $156.1 million versus $148.5 million for the same period in 2024, an increase of 5.1%. Adjusted funds from operations, or AFFO, was $164.3 million compared to $158.2 million, an increase of 3.8%. AFFO per share increased 3.9% to $1.60 from $1.54. Net income was $139.2 million compared to $78.5 million, a year ago. Net income per share was $1.35 compared to $0.76.
First quarter net revenues were $505.4 million compared to $498.2 million for the first quarter of 2024, a 1.5% increase.
Lamar chief executive Sean Reilly said: 'Based on pacings, we remain on track to reach our previously provided guidance for full-year AFFO per share.'
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