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Research Alert: Lamar Advertising Company: Q1 Beat On Strong National Advertising Demand

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-- CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:

Lamar Advertising Company (LAMR) reported Q1 2026 revenue of $528M (+4.5% Y/Y), beating consensus by $5M, though down 11.4% sequentially as Q1 is typically the weakest quarter for outdoor advertising. Acquisition-adjusted revenue grew 3.9% Y/Y, marking the 20th consecutive quarter of positive Y/Y growth and demonstrating consistent operational momentum across market cycles. We view the sustained revenue growth streak and strong customer demand as supportive of LAMR's market position in the outdoor advertising space. Management highlighted strong demand from both local and national customers, with pacings trending at the top end of previously provided 2026 AFFO per diluted share guidance. Capex increased 10.9% Y/Y to $33M, though digital billboard spending declined 18.3% Y/Y to $13M, suggesting a more measured approach to digital expansion this quarter. We believe the positive pacing trends and robust customer demand position LAMR well for continued growth momentum through 2026.

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