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Lamar Advertising LAMR Billboard — Total advertising expenses

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$48.13M-7.3%

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Other financials

Income statement

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Revenue$616.7M+6.5%
Gross profit$422.5M+7.6%
Operating income$208.0M+5.2%
Net income$160.7M+4.1%
EPS (diluted)$1.58+3.9%

Balance sheet

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Cash & equivalents$68.0M+21.9%
Total debt$5.0B+4.4%
Total equity$995.5M+9.8%
Total assets$7.0B+4.8%

Cash flow

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Operating cash flow$252.4M+10.0%
CapEx$42.7M+11.8%
Free cash flow$209.7M+9.6%

Valuation

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Market cap$16.05B+25.9%
Enterprise value$20.96B+20.0%
P/E28.9×-0.1×
P/S6.9×+1.2×

Profitability

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Gross margin67.4%+0.4pp
Operating margin31.8%+4.3pp
Net margin23.9%+4.1pp
FCF margin30.9%-1.6pp

Returns & leverage

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Return on equity58.5%+16.6pp
Debt / equity-0.3×
Current ratio0.6×0.0×

Where this comes from

Reported directly by Lamar Advertising in its filing.

Tagged under the XBRL concept us-gaap:AdvertisingExpense.

The source filing: Lamar Advertising’s 10-Q, filed August 6, 2026.

Filed
Aug 6, 2026, 10:45 AM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0001090425-26-000024
Line itemThree Months Ended June 30, 2026Three Months Ended June 30, 2025Six Months Ended June 30, 2026Six Months Ended June 30, 2025
Other64,42666,994123,806127,527
Total net revenues$616,749$579,311$1,144,753$1,084,741
Advertising expenses:
Billboard$237,339$221,892$464,849$438,823
Other48,13051,94395,706103,835
Total advertising expenses$285,469$273,835$560,555$542,658
Segmented adjusted EBITDA:
Billboard adjusted EBITDA$314,984$290,425$556,098$518,391

ITEM 1. — FINANCIAL STATEMENTS

FAQ

What is Lamar Advertising's billboard — total advertising expenses?
Lamar Advertising (LAMR) reported billboard — total advertising expenses of $237.34M in Q2 2026.
How has Lamar Advertising's billboard — total advertising expenses changed year-over-year?
Lamar Advertising's billboard — total advertising expenses increased by 7.0% year-over-year, from $221.89M to $237.34M.
What is the long-term trend for Lamar Advertising's billboard — total advertising expenses?
Over 3 years (2022 to 2025), Lamar Advertising's billboard — total advertising expenses has grown at a 2.7% compound annual growth rate (CAGR), from $829.29M to $897.15M.
What does billboard — total advertising expenses mean?
This metric captures the aggregate costs directly associated with the operation, maintenance, and production of billboard advertising displays. It includes expenses related to the physical upkeep of structures, ad copy production, and the operational costs of managing the billboard inventory. Monitoring this helps evaluate the cost-to-serve and operational efficiency of the billboard segment.

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