Lamar: Q3 Earnings Snapshot

BATON ROUGE, La. (AP) — BATON ROUGE, La. (AP) — Lamar Advertising Co. (LAMR) on Thursday reported a key measure of profitability in its third quarter.

The Baton Rouge, Louisiana-based real estate investment trust said it had funds from operations of $249.3 million, or $2.41 per share, in the period.

Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.

The company said it had net income of $161.8 million, or $1.59 per share.

The outdoor and transit advertising company, based in Baton Rouge, Louisiana, posted revenue of $624.5 million in the period.

Lamar expects full-year funds from operations in the range of $8.87 to $8.97 per share.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on LAMR at https://www.zacks.com/ap/LAMR