The massive AFFO beat and management's confirmation of trending at the top end of guidance should drive near-term upside. Watch for potential upward guidance revision on the conference call. The stock's 54% analyst bullish rating and strong historical T+20 performance (+8.96% on last report) suggest momentum may continue.
Price Chart
Executive Summary
Lamar Advertising reported Q1 2026 AFFO per share of $1.72, a 105% beat vs the $0.84 consensus estimate, driven by 4.5% revenue growth and 7.7% Adjusted EBITDA growth. Management noted results surpassed internal forecasts and pacings are trending at the top end of prior full-year AFFO guidance ($8.50-$8.70), signaling accelerating operational momentum.
Key Financial Metrics
Key Facts
- Q1 2026 AFFO per diluted share of $1.72 vs consensus $0.84 (105.1% beat)
- Net revenues $528.0M, up 4.5% YoY from $505.4M
- Adjusted EBITDA $226.3M, up 7.7% YoY from $210.2M
- Free cash flow $152.4M, up 25.8% YoY from $121.1M
- AFFO $177.5M, up 8.0% YoY from $164.3M
- GAAP diluted EPS $1.00 vs $1.35 YoY (down 26.9% due to prior-year Vistar gain)
- Total debt $3.50B vs $3.42B at year-end 2025; liquidity $701.5M
- Management 'trending at top end' of FY2026 AFFO guidance of $8.50-$8.70
Financial Impact
Q1 AFFO beat consensus by $0.88/share (105%); revenue beat by $5.5M (1.1%); FCF up 25.8% YoY
Risk Factors
- GAAP EPS declined 26.9% YoY due to prior-year Vistar gain — headline earnings quality concern
- Total debt increased $76M from year-end 2025 to $3.50B
- Advertising demand sensitive to macroeconomic conditions and tariff/geopolitical risks
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001090425-26-000014 |
| Document: lamr-20260507.htm | 0001090425-26-000014 |
| Document: 0001090425-26-000014-index-headers.html | 0001090425-26-000014 |
| Document: 0001090425-26-000014-index.html | 0001090425-26-000014 |
| Document: 0001090425-26-000014.txt | 0001090425-26-000014 |
| 8-K Data (Synthetic) | 0001090425-26-000014 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 1, 2026 4w ago | 8-K | $150.79 $144.11 | ▼ −4.43% | ▼ −4.10% | $145.13 (−3.75%) |
Aug 6, 2026 8w ago | 8-K | $160.00 $151.55 | ▼ −5.28% | ▼ −5.88% | $145.13 (−9.30%) |
Aug 6, 2026 8w ago | Press Release | $160.00 $151.55 | ▼ −5.28% | ▼ −5.88% | $145.13 (−9.30%) |
Jul 25, 2026 9w ago | Institutional Cluster | $160.99 $152.68 | ▼ −5.16% | ▼ −8.46% | $145.13 (−9.85%) |
May 14, 2026 20w ago | 8-K | $145.00 $154.48 | ▲ +6.54% | ▲ +4.42% | $145.13 (+0.09%) |
May 7, 2026 21w ago | 8-K | $150.30 $149.59 | ▼ −0.47% | ▼ −3.60% | $145.13 (−3.44%) |
May 7, 2026 21w ago | Press Release | $150.30 $149.59 | ▼ −0.47% | ▼ −3.60% | $145.13 (−3.44%) |
Apr 13, 2026 24w ago | Press Release | $133.96 $152.26 | ▲ +13.66% | ▲ +7.37% | $145.13 (+8.34%) |
US Market Status
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