Lamar Advertising Company

LAMR

Financial Statements

Income Statement (Annual)

Amounts in millions

2024

12/31/2024

Revenue

2,207

Cost of Revenue

728

Gross Profit

1,479

Gross Margin

67.0%

Operating Income

532

Operating Margin

24.1%

Net Income

362

Net Margin

16.4%

EPS (Basic)

$3.54

EPS (Diluted)

$3.52

EBITDA

1,002

EBITDA Margin

45.4%

2023

12/31/2023

Revenue

2,111

Cost of Revenue

697

Gross Profit

1,414

Gross Margin

67.0%

Operating Income

675

Operating Margin

32.0%

Net Income

496

Net Margin

23.5%

EPS (Basic)

$4.86

EPS (Diluted)

$4.85

EBITDA

975

EBITDA Margin

46.2%

2022

12/31/2022

Revenue

2,032

Cost of Revenue

667

Gross Profit

1,365

Gross Margin

67.2%

Operating Income

578

Operating Margin

28.4%

Net Income

439

Net Margin

21.6%

EPS (Basic)

$4.32

EPS (Diluted)

$4.31

EBITDA

933

EBITDA Margin

45.9%

2021

12/31/2021

Revenue

1,787

Cost of Revenue

577

Gross Profit

1,211

Gross Margin

67.7%

Operating Income

521

Operating Margin

29.2%

Net Income

388

Net Margin

21.7%

EPS (Basic)

$3.83

EPS (Diluted)

$3.83

EBITDA

775

EBITDA Margin

43.4%

2020

12/31/2020

Revenue

1,569

Cost of Revenue

558

Gross Profit

1,011

Gross Margin

64.5%

Operating Income

410

Operating Margin

26.1%

Net Income

243

Net Margin

15.5%

EPS (Basic)

$2.41

EPS (Diluted)

$2.41

EBITDA

637

EBITDA Margin

40.6%

Income Statement (Annual)

Financial performance (amounts in millions)

Item	2024	2023	2022	2021	2020
Revenue	2,207	2,111	2,032	1,787	1,569
Cost of Revenue	728	697	667	577	558
Gross Profit	1,479	1,414	1,365	1,211	1,011
Gross Margin	67.0%	67.0%	67.2%	67.7%	64.5%
Operating Income	532	675	578	521	410
Operating Margin	24.1%	32.0%	28.4%	29.2%	26.1%
Net Income	362	496	439	388	243
Net Margin	16.4%	23.5%	21.6%	21.7%	15.5%
EPS (Basic)	$3.54	$4.86	$4.32	$3.83	$2.41
EPS (Diluted)	$3.52	$4.85	$4.31	$3.83	$2.41
EBITDA	1,002	975	933	775	637
EBITDA Margin	45.4%	46.2%	45.9%	43.4%	40.6%