WASHINGTON (dpa-AFX) - Billboard firm Lamar Advertising Co. (LAMR) reported on Thursday a net loss applicable to common stock for the fourth quarter of $1.29 million or $0.01 per share, compared to net income of $149.3 million or $1.46 per share in the prior-year quarter.
Funds from operations, or FFO, for the quarter were $226.69 million, compared to $213.73 million last year. Adjusted funds from operations, or AFFO, were $226.54 million or $2.21 per share, compared to $215.02 million or $2.10 per share in the year-ago quarter.
On average, analysts polled expected the company to report earnings of $1.44 per share for the quarter. Analysts' estimates typically exclude special items.
Net revenues for the quarter increased 4.3 percent to $579.57 million from $555.91 million in the same quarter last year. Analysts expected revenues of $583.19 million for the quarter.
Acquisition-adjusted net revenue for the fourth quarter increased 4.1 percent.
Looking ahead to fiscal 2025, the company now projects earnings in a range of $6.01 to $6.07 per share and AFFO in a range of $8.13 to $8.28 per share. The Street is looking for earnings of $5.98 per share for the year.
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