Lamar Advertising (LAMR) FY2020 results: revenue $1.6 billion, down 10.5% on the year
Lamar Advertising Co. (LAMR) reported revenue of $1.6 billion for fiscal 2020, the year ended 31 December 2020, down 10.5% on the year before. Net income was $243 million, down 34.6%, and diluted earnings per share $2.41. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2021.
Revenue
$1.6 billion
-10.5% on the year
FY2016FY2020
Operating margin
26.1%
29.5% a year earlier
FY2016FY2020
Net income
$243 million
-34.6% on the year
FY2016FY2020
Diluted EPS
$2.41
-35.0% on the year
FY2016FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
1,569
1,754
1,627
-10.5%
Cost of revenue
558
590
562
-5.5%
Gross profit
1,011
1,164
1,065
-13.1%
Gross margin
64.5%
66.4%
65.5%
Operating income
410
518
461
-20.8%
Operating margin
26.1%
29.5%
28.3%
Interest expense
138
151
130
-8.6%
Pre-tax income
248
368
316
-32.6%
Income tax
4.7
-4.2
10.7
Effective tax rate
1.9%
-1.1%
3.4%
Net income
243
372
305
-34.6%
Net margin
15.5%
21.2%
18.8%
Diluted EPS
$2.41
$3.71
$3.08
-35.0%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
570
631
565
-9.7%
Capital expenditure
62.3
141
118
-55.8%
Free cash flow
508
490
447
+3.6%
Free cash flow margin
32.4%
27.9%
27.5%
Cash from investing
-96.9
-362
-584
Cash from financing
-378
-264
-73.6
Depreciation and amortisation
251
250
225
+0.5%
Share-based compensation
18.8
29.6
29.4
-36.7%
Buybacks
10.5
8.9
4.1
+18.1%
Dividends paid
252
385
443
-34.5%
Dividend per share
$2.50
$3.84
$3.65
-34.9%
Diluted shares, weighted
101m
100m
99m
+0.6%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
1,203
1,180
1,132
+1.9%
Debt
2,887
2,980
2,889
-3.1%
Operating lease liabilities
994
1,068
n/a
-7.0%
Finance lease liabilities
18.6
n/a
n/a
Other liabilities
690
713
524
-3.2%
Total liabilities and equity
5,791
5,941
4,545
-2.5%
Fixed assets
1,282
1,349
1,295
-5.0%
Goodwill
1,912
1,912
1,919
+0.0%
Intangible assets
914
992
915
-7.8%
Cash and equivalents
122
26.2
21.5
+364.2%
Receivables
241
255
236
-5.5%
Other assets
1,320
1,406
158
-6.1%
Total assets
5,791
5,941
4,545
-2.5%
10-K for the year ended 31 December 2020, filed 26 February 2021: the filing.