(Adds Outlook)
For the full year, Lamar Advertising Company (LAMR) has cut its EPS outlook, while raising its Adjusted FFO per share guidance.
It now expects net income per share for the full year to be in the range of $4.95 - $5.01, and AFFO per share between $7.75 and $7.90.
Previously, it was expecting EPS in the range of $5.02 - $5.07, and AFFO per share between $7.67 and $7.82.
On average, 3 analysts polled by Thomson-Reuters expect the company to report earnings of $5.22 per share for the year.
Q1 Results:
Lamar Advertising announced a profit for its first quarter that increased from the same period last year but missed the Street estimates.
The company's earnings totaled $78.13 million, or $0.76 per share. This compares with $75.95 million, or $0.74 per share, in last year's first quarter.
Analysts on average had expected the company to earn $0.81 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter rose 5.7% to $498.15 million from $471.33 million last year.
Lamar Advertising Co. Q1 earnings at a glance (GAAP) :
-Earnings (Q1): $78.13 Mln. vs. $75.95 Mln. last year.
-EPS (Q1): $0.76 vs. $0.74 last year.
-Revenue (Q1): $498.15 Mln vs. $471.33 Mln last year.
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