$LAMR
LAMAR ADVERTISING CO/NEW

2019 Q3 Form 10-Q Financial Statement

#000156459019040322 Filed on November 05, 2019

View on sec.gov

Income Statement

Concept 2019 Q3 2018 Q3 2018 Q2
Revenue $457.8M $418.5M $419.8M
YoY Change 9.39% 4.8% 5.72%
Cost Of Revenue $148.8M $140.7M $140.8M
YoY Change 5.79% 4.24% 4.23%
Gross Profit $308.9M $277.8M $279.0M
YoY Change 11.21% 5.08% 6.49%
Gross Profit Margin 67.49% 66.38% 66.46%
Selling, General & Admin $201.0M $93.90M $89.80M
YoY Change 114.06% 12.32% 8.59%
% of Gross Profit 65.06% 33.8% 32.18%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $64.00M $55.10M $55.40M
YoY Change 16.15% 6.37% 6.95%
% of Gross Profit 20.72% 19.83% 19.86%
Operating Expenses $264.9M $149.0M $145.1M
YoY Change 77.79% 10.13% 7.96%
Operating Profit $141.4M $128.4M $135.7M
YoY Change 10.19% -0.55% 5.87%
Interest Expense $38.32M $31.85M $31.89M
YoY Change 20.32% -199.22% -0.27%
% of Operating Profit 27.09% 24.81% 23.5%
Other Income/Expense, Net -$38.16M -$31.69M -$31.76M
YoY Change 20.39% -0.9%
Pretax Income $103.3M $96.67M $103.9M
YoY Change 6.85% -3.0% 8.13%
Income Tax $3.578M $2.612M $3.513M
% Of Pretax Income 3.46% 2.7% 3.38%
Net Earnings $99.71M $94.06M $100.4M
YoY Change 6.01% -2.36% 8.7%
Net Earnings / Revenue 21.78% 22.47% 23.92%
Basic Earnings Per Share $0.99 $0.95 $1.02
Diluted Earnings Per Share $0.99 $0.95 $1.02
COMMON SHARES
Basic Shares Outstanding 100.3M 98.94M 98.53M
Diluted Shares Outstanding 100.5M 99.25M 98.83M

Balance Sheet

Concept 2019 Q3 2018 Q3 2018 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $23.30M $10.60M $19.60M
YoY Change 119.81% -63.95% -54.31%
Cash & Equivalents $23.29M $10.61M $19.59M
Short-Term Investments
Other Short-Term Assets $28.21M $127.3M $133.7M
YoY Change -77.84% 7.88% 8.26%
Inventory
Prepaid Expenses
Receivables $265.1M $228.0M $228.4M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $316.6M $365.9M $381.7M
YoY Change -13.49% -1.24% -0.93%
LONG-TERM ASSETS
Property, Plant & Equipment $1.341B $1.193B $1.193B
YoY Change 12.36% 1.08% 1.37%
Goodwill $1.903B
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $55.76M $54.30M $54.40M
YoY Change 2.7% 26.28% 29.83%
Total Long-Term Assets $5.615B $3.759B $3.738B
YoY Change 49.39% 3.47% 4.98%
TOTAL ASSETS
Total Short-Term Assets $316.6M $365.9M $381.7M
Total Long-Term Assets $5.615B $3.759B $3.738B
Total Assets $5.932B $4.125B $4.120B
YoY Change 43.81% 3.03% 4.41%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $17.94M $19.50M $18.90M
YoY Change -8.01% 7.73% 5.0%
Accrued Expenses $85.27M $102.6M $98.30M
YoY Change -16.89% 3.12% -10.88%
Deferred Revenue $130.3M
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $218.1M $26.70M $23.90M
YoY Change 716.87% 53.45% 36.57%
Total Short-Term Liabilities $620.2M $256.0M $258.0M
YoY Change 142.26% 7.25% -1.0%
LONG-TERM LIABILITIES
Long-Term Debt $2.836B $2.519B $2.541B
YoY Change 12.56% 3.59% 7.02%
Other Long-Term Liabilities $32.93M $250.0M $246.1M
YoY Change -86.83% 3.43% 2.63%
Total Long-Term Liabilities $2.869B $2.769B $2.787B
YoY Change 3.59% 3.57% 6.61%
TOTAL LIABILITIES
Total Short-Term Liabilities $620.2M $256.0M $258.0M
Total Long-Term Liabilities $2.869B $2.769B $2.787B
Total Liabilities $4.764B $3.028B $3.047B
YoY Change 57.34% 3.95% 5.97%
SHAREHOLDERS EQUITY
Retained Earnings -$714.6M
YoY Change
Common Stock $1.916B
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $34.09M
YoY Change
Treasury Stock Shares $500.7K
Shareholders Equity $1.168B $1.097B $1.074B
YoY Change
Total Liabilities & Shareholders Equity $5.932B $4.125B $4.120B
YoY Change 43.81% 3.03% 4.41%

Cashflow Statement

Concept 2019 Q3 2018 Q3 2018 Q2
OPERATING ACTIVITIES
Net Income $99.71M $94.06M $100.4M
YoY Change 6.01% -2.36% 8.7%
Depreciation, Depletion And Amortization $64.00M $55.10M $55.40M
YoY Change 16.15% 6.37% 6.95%
Cash From Operating Activities $171.0M $154.3M $175.0M
YoY Change 10.82% 22.66% 9.17%
INVESTING ACTIVITIES
Capital Expenditures -$37.10M -$29.70M -$29.20M
YoY Change 24.92% 11.65% 2.1%
Acquisitions
YoY Change
Other Investing Activities -$135.5M -$29.30M -$3.300M
YoY Change 362.46% -67.84% -64.52%
Cash From Investing Activities -$172.7M -$58.90M -$32.50M
YoY Change 193.21% -49.91% -14.47%
FINANCING ACTIVITIES
Cash Dividend Paid $96.39M $90.18M $89.78M
YoY Change 6.89%
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 7.800M -104.3M -132.6M
YoY Change -107.48% 359.47% 18.82%
NET CHANGE
Cash From Operating Activities 171.0M 154.3M 175.0M
Cash From Investing Activities -172.7M -58.90M -32.50M
Cash From Financing Activities 7.800M -104.3M -132.6M
Net Change In Cash 6.100M -8.900M 9.900M
YoY Change -168.54% -38.62% -7.48%
FREE CASH FLOW
Cash From Operating Activities $171.0M $154.3M $175.0M
Capital Expenditures -$37.10M -$29.70M -$29.20M
Free Cash Flow $208.1M $184.0M $204.2M
YoY Change 13.1% 20.73% 8.1%

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PreferredStockDividendsPerShareCashPaid
15.95
us-gaap Dividends Preferred Stock Cash
DividendsPreferredStockCash
273000
us-gaap Preferred Stock Dividends Per Share Cash Paid
PreferredStockDividendsPerShareCashPaid
47.85
CY2018Q3 us-gaap Dividends Preferred Stock Cash
DividendsPreferredStockCash
91000
CY2018Q3 us-gaap Preferred Stock Dividends Per Share Cash Paid
PreferredStockDividendsPerShareCashPaid
15.95
us-gaap Dividends Preferred Stock Cash
DividendsPreferredStockCash
364000
CY2018Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
51085000
CY2018Q4 us-gaap Assets
Assets
4544641000
CY2019Q3 us-gaap Assets
Assets
5931736000
CY2018Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
96668000
CY2019Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
3578000
CY2018Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
10609000
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
214559000
CY2019Q1 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
186521
CY2019Q2 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
85379
CY2019Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
3643165000
CY2019Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
2302396000
CY2018Q2 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
132898
CY2018Q3 us-gaap Stock Issued During Period Shares Employee Stock Purchase Plans
StockIssuedDuringPeriodSharesEmployeeStockPurchasePlans
28877
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
407970000

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