$LAMR
LAMAR ADVERTISING CO/NEW

2018 Q3 Form 10-Q Financial Statement

#000156459018028512 Filed on November 08, 2018

View on sec.gov

Income Statement

Concept 2018 Q3 2017 Q3
Revenue $418.5M $399.3M
YoY Change 4.8% 3.05%
Cost Of Revenue $140.7M $135.0M
YoY Change 4.24% 2.41%
Gross Profit $277.8M $264.4M
YoY Change 5.08% 3.39%
Gross Profit Margin 66.38% 66.2%
Selling, General & Admin $93.90M $83.60M
YoY Change 12.32% -3.69%
% of Gross Profit 33.8% 31.62%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $55.10M $51.80M
YoY Change 6.37% 5.07%
% of Gross Profit 19.83% 19.59%
Operating Expenses $149.0M $135.3M
YoY Change 10.13% -0.59%
Operating Profit $128.4M $129.1M
YoY Change -0.55% 7.92%
Interest Expense $31.85M -$32.10M
YoY Change -199.22% -203.21%
% of Operating Profit 24.81% -24.87%
Other Income/Expense, Net -$31.69M
YoY Change
Pretax Income $96.67M $99.66M
YoY Change -3.0% 12.38%
Income Tax $2.612M $3.325M
% Of Pretax Income 2.7% 3.34%
Net Earnings $94.06M $96.33M
YoY Change -2.36% 13.25%
Net Earnings / Revenue 22.47% 24.12%
Basic Earnings Per Share $0.95 $0.98
Diluted Earnings Per Share $0.95 $0.98
COMMON SHARES
Basic Shares Outstanding 98.94M 98.04M
Diluted Shares Outstanding 99.25M 98.49M

Balance Sheet

Concept 2018 Q3 2017 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $10.60M $29.40M
YoY Change -63.95% -21.6%
Cash & Equivalents $10.61M $29.42M
Short-Term Investments
Other Short-Term Assets $127.3M $118.0M
YoY Change 7.88% 204.64%
Inventory
Prepaid Expenses
Receivables $228.0M $223.1M
Other Receivables $0.00 $0.00
Total Short-Term Assets $365.9M $370.5M
YoY Change -1.24% 4.3%
LONG-TERM ASSETS
Property, Plant & Equipment $1.193B $1.181B
YoY Change 1.08% 0.08%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $54.30M $43.00M
YoY Change 26.28% 9.18%
Total Long-Term Assets $3.759B $3.633B
YoY Change 3.47% 2.41%
TOTAL ASSETS
Total Short-Term Assets $365.9M $370.5M
Total Long-Term Assets $3.759B $3.633B
Total Assets $4.125B $4.003B
YoY Change 3.03% 2.58%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $19.50M $18.10M
YoY Change 7.73% 2.63%
Accrued Expenses $102.6M $99.50M
YoY Change 3.12% -9.66%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $26.70M $17.40M
YoY Change 53.45% -39.63%
Total Short-Term Liabilities $256.0M $238.7M
YoY Change 7.25% -7.87%
LONG-TERM LIABILITIES
Long-Term Debt $2.519B $2.432B
YoY Change 3.59% 3.44%
Other Long-Term Liabilities $250.0M $241.7M
YoY Change 3.43% 911.09%
Total Long-Term Liabilities $2.769B $2.674B
YoY Change 3.57% 12.57%
TOTAL LIABILITIES
Total Short-Term Liabilities $256.0M $238.7M
Total Long-Term Liabilities $2.769B $2.674B
Total Liabilities $3.028B $2.913B
YoY Change 3.95% 2.34%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.097B $1.091B
YoY Change
Total Liabilities & Shareholders Equity $4.125B $4.003B
YoY Change 3.03% 2.58%

Cashflow Statement

Concept 2018 Q3 2017 Q3
OPERATING ACTIVITIES
Net Income $94.06M $96.33M
YoY Change -2.36% 13.25%
Depreciation, Depletion And Amortization $55.10M $51.80M
YoY Change 6.37% 5.07%
Cash From Operating Activities $154.3M $125.8M
YoY Change 22.66% -0.79%
INVESTING ACTIVITIES
Capital Expenditures -$29.70M -$26.60M
YoY Change 11.65% -2.56%
Acquisitions
YoY Change
Other Investing Activities -$29.30M -$91.10M
YoY Change -67.84% 382.01%
Cash From Investing Activities -$58.90M -$117.6M
YoY Change -49.91% 154.55%
FINANCING ACTIVITIES
Cash Dividend Paid $90.18M
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -104.3M -22.70M
YoY Change 359.47% -73.17%
NET CHANGE
Cash From Operating Activities 154.3M 125.8M
Cash From Investing Activities -58.90M -117.6M
Cash From Financing Activities -104.3M -22.70M
Net Change In Cash -8.900M -14.50M
YoY Change -38.62% 262.5%
FREE CASH FLOW
Cash From Operating Activities $154.3M $125.8M
Capital Expenditures -$29.70M -$26.60M
Free Cash Flow $184.0M $152.4M
YoY Change 20.73% -1.1%

Facts In Submission

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CY2017Q4 lamr Balance Of Permitted Transfers To Parent Company
BalanceOfPermittedTransfersToParentCompany
2975593000
lamr Description Of Provisions On Senior Credit Facility Transfers To Parent Company Subject To Additional Restrictions
DescriptionOfProvisionsOnSeniorCreditFacilityTransfersToParentCompanySubjectToAdditionalRestrictions
(i) the total debt ratio is less than 6.5 to 1 and (ii) the secured debt ratio does not exceed 3.5 to 1.
CY2018Q3 lamr Maximum Holding Debt Ratio For Applicability Of Restriction On Transfer
MaximumHoldingDebtRatioForApplicabilityOfRestrictionOnTransfer
6.5
CY2018Q3 lamr Maximum Actual Holdings Debt Ratio
MaximumActualHoldingsDebtRatio
6.5
CY2018Q3 lamr Available Cumulative Credit
AvailableCumulativeCredit
1815696000
CY2018Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
0
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
0
CY2017Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
0
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
0
CY2018Q3 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
2571735000
CY2018Q3 lamr Debt Instrument Carrying Amount Current
DebtInstrumentCarryingAmountCurrent
31548000
CY2018Q3 lamr Debt Instrument Carrying Amount Non Current
DebtInstrumentCarryingAmountNonCurrent
2540187000
CY2018Q3 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
25854000
CY2018Q3 us-gaap Long Term Debt
LongTermDebt
2545881000
CY2017Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
2585409000
CY2017Q4 lamr Debt Instrument Carrying Amount Current
DebtInstrumentCarryingAmountCurrent
22797000
CY2017Q4 lamr Debt Instrument Carrying Amount Non Current
DebtInstrumentCarryingAmountNonCurrent
2562612000
CY2017Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
28719000
CY2017Q4 us-gaap Long Term Debt
LongTermDebt
2556690000
CY2018Q3 us-gaap Line Of Credit Facility Remaining Borrowing Capacity
LineOfCreditFacilityRemainingBorrowingCapacity
332047000
CY2018Q3 us-gaap Debt Instrument Fair Value
DebtInstrumentFairValue
2616346000
CY2018Q3 us-gaap Dividends Cash
DividendsCash
90177000
CY2017Q3 us-gaap Dividends Cash
DividendsCash
81408000
us-gaap Dividends Cash
DividendsCash
243928000
CY2017 us-gaap Dividends Cash
DividendsCash
81534000
CY2017 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.83
CY2018Q3 us-gaap Dividends Preferred Stock Cash
DividendsPreferredStockCash
91000
CY2017Q3 us-gaap Dividends Preferred Stock Cash
DividendsPreferredStockCash
91000
us-gaap Dividends Preferred Stock Cash
DividendsPreferredStockCash
364000
us-gaap Dividends Preferred Stock Cash
DividendsPreferredStockCash
273000
CY2018Q3 lamr Preferred Stock Dividend Shares
PreferredStockDividendShares
15.95
CY2017Q3 lamr Preferred Stock Dividend Shares
PreferredStockDividendShares
15.95
lamr Preferred Stock Dividend Shares
PreferredStockDividendShares
63.80
lamr Preferred Stock Dividend Shares
PreferredStockDividendShares
47.85
lamr Non Cash Financing Transaction
NonCashFinancingTransaction
0
lamr Non Cash Financing Transaction
NonCashFinancingTransaction
0
lamr Non Cash Investing Transaction
NonCashInvestingTransaction
0

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