Lamar Advertising Company reported its fourth-quarter 2024 net revenues of $579.6 million, a 4.3% increase from $555.9 million in Q4 2023. For the full year 2024, net revenues grew 4.6% to $2.21 billion, up from $2.11 billion in 2023.
Full-year 2024 diluted Adjusted Funds From Operations (AFFO) per share reached $7.99, a 7.0% increase from $7.47 in 2023, surpassing the top end of the company's revised guidance range. The company reported a net loss of $1.0 million in Q4 2024, primarily due to a $159.7 million revision in the asset retirement obligation estimate.
Lamar provided its fiscal year 2025 guidance, expecting diluted AFFO per share to be between $8.13 and $8.28. Additionally, the company announced the sale of its 20% equity interest in Vistar Media Inc. to T-Mobile USA, Inc. on February 3, 2025, for $115.1 million in cash, with potential for an additional $15.1 million from escrow. Proceeds were used to repay revolving credit facility borrowings.
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