--- title: "Lamar Advertising | 8-K: FY2025 Q4 Revenue Beats Estimate at USD 595.93 M" type: "News" locale: "zh-CN" url: "https://longbridge.com/zh-CN/news/276438858.md" datetime: "2026-02-20T11:57:07.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/276438858.md) - [en](https://longbridge.com/en/news/276438858.md) - [zh-HK](https://longbridge.com/zh-HK/news/276438858.md) --- > 支持的语言: [English](https://longbridge.com/en/news/276438858.md) | [繁體中文](https://longbridge.com/zh-HK/news/276438858.md) # Lamar Advertising | 8-K: FY2025 Q4 Revenue Beats Estimate at USD 595.93 M Revenue: As of FY2025 Q4, the actual value is USD 595.93 M, beating the estimate of USD 592.7 M. EPS: As of FY2025 Q4, the actual value is USD 1.5, missing the estimate of USD 1.6223. EBIT: As of FY2025 Q4, the actual value is USD 235.55 M. #### Fourth Quarter 2025 Financial Performance (vs. Fourth Quarter 2024) - **Net Revenues:** Lamar Advertising Company reported net revenues of $595.9 million, an increase of 2.8% from $579.6 million in the prior year period . Acquisition-adjusted net revenue increased by 2.2% to $595.9 million from $583.0 million . - **Net Income:** Net income was $154.7 million, a significant increase of $155.7 million compared to a net loss of -$1.0 million in the fourth quarter of 2024 . This increase was primarily due to a revision in the estimate of asset retirement obligations in Q4 2024, which resulted in an additional $159.7 million recorded to depreciation and amortization expense . - **Operating Income:** Operating income increased by $159.4 million to $196.1 million, up from $36.7 million in the same period of 2024 . - **Adjusted EBITDA:** Adjusted EBITDA increased by 3.7% to $288.9 million from $278.5 million . Acquisition-adjusted EBITDA increased by 2.1% to $288.9 million from $282.8 million . - **Outdoor Operating Income:** Outdoor operating income increased by 3.8% to $315.274 million from $303.689 million . Acquisition-adjusted outdoor operating income increased by 2.4% to $315.274 million from $307.976 million . - **Cash Flow from Operating Activities:** Cash flow provided by operating activities decreased by $8.2 million to $271.2 million from $279.3 million . - **Free Cash Flow:** Free cash flow was $187.1 million, a 4.3% decrease from $195.6 million . - **Funds From Operations (FFO):** FFO was $226.5 million, a 0.1% decrease from $226.7 million . - **Adjusted Funds From Operations (AFFO):** AFFO increased by 1.8% to $230.6 million from $226.5 million . Diluted AFFO per share increased by 1.4% to $2.24 from $2.21 . #### Full Year 2025 Financial Performance (vs. Full Year 2024) - **Net Revenues:** Lamar Advertising Company reported net revenues of $2.27 billion, a 2.7% increase from $2.21 billion in the prior year . Acquisition-adjusted net revenue increased by 2.1% to $2.266 billion from $2.221 billion . - **Net Income:** Net income was $593.1 million, a 63.4% increase from $362.9 million in 2024 . This increase was primarily driven by a $68.6 million gain from the sale of Lamar’s equity interest in Vistar Media, Inc. in 2025, as well as the revision in asset retirement obligations in 2024 . - **Operating Income:** Operating income increased by $242.0 million to $774.1 million from $532.0 million in 2024 . - **Adjusted EBITDA:** Adjusted EBITDA increased by 2.4% to $1.06 billion from $1.03 billion . Acquisition-adjusted EBITDA increased by 1.4% to $1.058 billion from $1.043 billion . - **Outdoor Operating Income:** Outdoor operating income increased by 2.6% to $1.165 billion from $1.136 billion . Acquisition-adjusted outdoor operating income increased by 1.7% to $1.165 billion from $1.146 billion . - **Cash Flow from Operating Activities:** Cash flow provided by operating activities decreased by $9.6 million to $864.0 million from $873.6 million . - **Free Cash Flow:** Free cash flow was $696.6 million, a 5.3% decrease from $735.9 million . - **Funds From Operations (FFO):** FFO increased by 3.6% to $827.3 million from $798.4 million . - **Adjusted Funds From Operations (AFFO):** AFFO increased by 3.4% to $846.7 million from $819.0 million . Diluted AFFO per share increased by 3.4% to $8.26 from $7.99 . #### Liquidity (as of December 31, 2025) - Lamar Advertising Company had total liquidity of $807.0 million . This included $742.2 million available for borrowing under its revolving senior credit facility and $64.8 million in cash and cash equivalents . There were no borrowings outstanding under the revolving credit facility, and $250.0 million was outstanding under the Accounts Receivable Securitization Program . #### Capital Expenditures - For the fourth quarter of 2025, total capital expenditures were $62.862 million, up from $43.014 million in Q4 2024 . For the full year 2025, total capital expenditures were $180.800 million, compared to $125.284 million in 2024 . Capital expenditures for the full year 2025 included $34.967 million for traditional billboards, $90.937 million for digital billboards, $18.887 million for logo, $2.136 million for transit, $12.392 million for land and buildings, and $21.481 million for operating equipment . #### Outlook / Guidance for Fiscal Year 2026 Lamar Advertising Company anticipates diluted AFFO per share for fiscal year 2026 to be between $8.50 and $8.70 . The company expects net income per diluted share for fiscal year 2026 to range from $5.72 to $5.83 . Management noted encouraging sales momentum continued into 2026, with promising pacings for the balance of the year . ### 相关股票 - [Lamar Advertising (LAMR.US)](https://longbridge.com/zh-CN/quote/LAMR.US.md) ## 相关资讯与研究 - [Alibaba (BABA) vs. Amazon (AMZN): Which AI ‘Strong Buy’ Stock Has More Upside Now?](https://longbridge.com/zh-CN/news/281624372.md) - [Diamond rings: De Beers marketing secrets and saving tips](https://longbridge.com/zh-CN/news/281217868.md) - [Should You Chase the Amazon-Driven Rally in Globalstar Stock Today?](https://longbridge.com/zh-CN/news/281573463.md) - [Walmart Stock Outlook: What WMT Stock Could Look Like Over the Next Five Years](https://longbridge.com/zh-CN/news/281686357.md) - [Is Snap Inc. (SNAP) a good stock to buy now?](https://longbridge.com/zh-CN/news/280939716.md)