Lamar Advertising (LAMR) FY2023 results: revenue $2.1 billion, up 3.9% on the year
Lamar Advertising Co. (LAMR) reported revenue of $2.1 billion for fiscal 2023, the year ended 31 December 2023, up 3.9% on the year before. Net income was $496 million, up 13.0%, and diluted earnings per share $4.85. The figures are the company's own, from the 10-K it filed with the SEC on 23 February 2024.
Revenue
$2.1 billion
+3.9% on the year
FY2016FY2023
Operating margin
32.0%
28.4% a year earlier
FY2016FY2023
Net income
$496 million
+13.0% on the year
FY2016FY2023
Diluted EPS
$4.85
+12.5% on the year
FY2016FY2023
this yearthe year beforeHover a bar for its figure.
$ 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
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
784
782
734
+0.3%
Capital expenditure
178
167
126
+6.7%
Free cash flow
605
615
608
-1.5%
Free cash flow margin
28.7%
30.2%
34.0%
Cash from investing
-310
-619
-462
Cash from financing
-482
-209
-295
Depreciation and amortisation
293
349
271
-16.0%
Share-based compensation
22.6
23.1
37.4
-2.1%
Buybacks
6.0
10.5
6.1
-43.0%
Dividends paid
511
509
405
+0.4%
Dividend per share
$5.00
$5.00
$4.00
0.0%
Diluted shares, weighted
102m
102m
101m
+0.5%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
1,217
1,195
1,217
+1.8%
Non-controlling interest
n/a
0.0
n/a
Debt
3,341
3,313
3,014
+0.9%
Operating lease liabilities
1,075
1,036
995
+3.8%
Finance lease liabilities
14.6
15.9
17.3
-8.3%
Other liabilities
916
915
804
+0.0%
Total liabilities and equity
6,564
6,475
6,047
+1.4%
Fixed assets
1,566
1,500
1,337
+4.5%
Goodwill
2,035
2,035
1,936
+0.0%
Intangible assets
1,171
1,207
1,045
-2.9%
Cash and equivalents
44.6
52.6
99.8
-15.2%
Receivables
301
285
270
+5.7%
Other assets
1,445
1,396
1,359
+3.5%
Total assets
6,564
6,475
6,047
+1.4%
10-K for the year ended 31 December 2023, filed 23 February 2024: the filing.