Summary : Lamar Advertising Co. (LAMR) on Wednesday reported a key measure of profitability in its second quarter.
The Baton Rouge, Louisiana-based real estate investment trust said it had funds from operations of $196.9 million, or $1.94 per share, in the period. It takes net income and adds back items such as depreciation and amortization. The company said it had net income of $134.1 million, or $1.32 per share.
BATON ROUGE, La. (AP) _ Lamar Advertising Co. (LAMR) on Wednesday reported a key measure of profitability in its second quarter.
The Baton Rouge, Louisiana-based real estate investment trust said it had funds from operations of $196.9 million, or $1.94 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 $134.1 million, or $1.32 per share. The outdoor and transit advertising company, based in Baton Rouge, Louisiana, posted revenue of $517.9 million in the period. 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
