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LAMR on Nasdaq

Lamar Advertising Company

Logo: Lamar Advertising Company, Public domain, via Wikimedia Commons5

American outdoor advertising company

Lamar Advertising Company is an American advertising company which operates billboards, logo signs, and transit displays in the United States and Canada and focused on outdoor advertising. The company was founded in 1902 by Charles W. Lamar and J.M. Coe, and is headquartered in Baton Rouge, Louisiana. The company has over 200 locations in the United States and Canada.3 Its shares trade on Nasdaq under the symbol LAMR.1 Wikipedia text CC BY-SA 4.0

Price unavailable

Last updated Oct 21, 2026.

Overview

$2.3BRevenue, fiscal 20256
$587.2MNet income, fiscal 20256
1902Founded1

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  • TickerLAMR on Nasdaq1
  • Industryadvertising1
  • HeadquartersBaton Rouge1
  • Websitelamar.com
  • Legal formDelaware corporation1
  • Incorporated inDE7
  • Business addressC/O Lamar Advertising Company, 5321 Corporate Boulevard, Baton Rouge, La 708087
  • Filer categoryLarge accelerated filer7
  • LEI529900Y8WW4MKVPTB5434
  • StatusActive4
  • LEI statusLapsed (not renewed)4
  • Registered addressc/o CAPITOL SERVICES, INC., 1675 S STATE ST STE B, 19901 Dover, United States4
  • Registered withDivision of Corporations, Department of State, 55351364

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Lamar Advertising Company is an American advertising company which operates billboards, logo signs, and transit displays in the United States and Canada and focused on outdoor advertising. The company was founded in 1902 by Charles W. Lamar and J.M. Coe, and is headquartered in Baton Rouge, Louisiana. The company has over 200 locations in the United States and Canada. They have reportedly more than 363,000 displays across the USA. Lamar Advertising Company became a real estate investment trust in 2014.3

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

34.2%Operating margin6
25.9%Net margin6
2.7%Revenue growth, 20256
57.3%Return on equity6
3.09×Debt to equity6
$683.2MFree cash flow6

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Business segments

Reportable Segment, Aggregation before Other Operating brought in 89% of the revenue Lamar Advertising Company broke down this way in fiscal 2025.

  1. Reportable Segment, Aggregation before Other Operating$2.0B689%up 3% from 2024
  2. Other Operating$252.4M611%up 1% from 2024
Business segments by year
Business segments202320242025
Reportable Segment, Aggregation before Other Operating$1.9B$2.0B$2.0B
Other Operating$233.2M$250.9M$252.4M

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Cost of revenue33¢$746.9M
  • Other costs40¢$910.9M
  • Income tax1¢$21.3M
  • Profit26¢$587.2M

Out of $2.3B in revenue.6

Where each dollar of operating cash went, fiscal 2025

  • Capital spending21¢$180.8M
  • Share buybacks18¢$157.9M
  • Kept or used elsewhere61¢$525.3M

Out of $864.0M of cash from operations.6

Financial statements

Revenue10111213146$2.3B in 2025+39% since 2018
0$1.0B$2.0B$3.0B2018: $1.6B$1.6B20182019: $1.8B$1.8B2019+8%2020: $1.6B$1.6B2020−11%2021: $1.8B$1.8B2021+14%2022: $2.0B$2.0B2022+14%2023: $2.1B$2.1B2023+4%2024: $2.2B$2.2B2024+5%2025: $2.3B$2.3B2025+3%
Operating income10111213146$774.1M in 2025+68% since 2018
0$200.0M$400.0M$600.0M$800.0M2018: $460.6M$460.6M20182019: $517.7M$517.7M2019+12%2020: $410.1M$410.1M2020−21%2021: $521.2M$521.2M2021+27%2022: $578.0M$578.0M2022+11%2023: $675.4M$675.4M2023+17%2024: $532.0M$532.0M2024−21%2025: $774.1M$774.1M2025+45%
Net income10111213146$587.2M in 2025+92% since 2018
0$200.0M$400.0M$600.0M2018: $305.2M$305.2M20182019: $372.1M$372.1M2019+22%2020: $243.4M$243.4M2020−35%2021: $388.1M$388.1M2021+59%2022: $438.6M$438.6M2022+13%2023: $495.8M$495.8M2023+13%2024: $361.9M$361.9M2024−27%2025: $587.2M$587.2M2025+62%

Every line of the income statement as filed: the last 3 fiscal years, latest first.6

Period ending2025-12-312024-12-312023-12-31
Net Revenues$2.3B$2.2B$2.1B
Direct advertising expenses (exclusive of depreciation and amortization)$746.9M$727.9M$696.8M
General and administrative expenses (exclusive of depreciation and amortization)$368.7M$361.1M$344.8M
Corporate expenses (exclusive of depreciation and amortization)$126.2M$129.1M$106.0M
Depreciation and amortization (note 11)$326.3M$463.0M$293.4M
Gain on disposition of assets and investments-$75.9M-$6.1M-$5.5M
Total operating expenses$1.5B$1.7B$1.4B
Operating income$774.1M$532.0M$675.4M
Loss on extinguishment of debt$2.0M$270.0K$115.0K
Interest income-$2.6M-$2.3M-$2.1M
Interest expense$160.4M$171.7M$174.5M
Equity in earnings of investee-$206.0K-$5.1M-$3.7M
Total other expense (income)$159.7M$164.6M$168.8M
Income before income tax expense$614.4M$367.5M$506.6M
Income tax expense (note 12)$21.3M$4.5M$9.8M
Net income$593.1M$362.9M$496.8M
Net income attributable to non-controlling interest$5.9M$1.1M$1.1M
Net income attributable to controlling interest$587.2M$361.9M$495.8M
Preferred stock dividends$365.0K$365.0K$365.0K
Net income applicable to common stock$586.8M$361.5M$495.4M
Basic earnings per share (in usd per share)$5.78$3.54$4.86
Diluted earnings per share (in usd per share)$5.77$3.52$4.85
Cash dividends declared per share of common stock (in usd per share)$6.45$5.65$5.00
Weighted average number of shares outstanding basic (in shares)101.6M shares102.3M shares101.9M shares
Weighted average common shares outstanding diluted (in shares)101.6M shares102.6M shares102.1M shares
Foreign currency translation adjustments$108.0K-$2.5M$231.0K
Comprehensive income$593.2M$360.4M$497.1M
Net income attributable to non-controlling interest$5.9M$1.1M$1.1M
Comprehensive income attributable to controlling interest$587.3M$359.3M$496.0M

Compare Lamar Advertising Company with another company

Corporate structure

Lamar Advertising Company sits at the top of its group. 98 entities, 2 countries on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of Lamar Advertising Company

  • VANGUARD CAPITAL MANAGEMENT LLC Filed SCHEDULE 13G on Lamar Advertising Company, latest Apr 30, 2026
  • VANGUARD PORTFOLIO MANAGEMENT LLC Filed SCHEDULE 13G on Lamar Advertising Company, latest Apr 29, 2026
  • BlackRock Filed SCHEDULE 13G/A on Lamar Advertising Company, latest Apr 28, 2026 (7 filings since Feb 3, 2022)
  • VANGUARD GROUP INC Filed SCHEDULE 13G/A on Lamar Advertising Company, latest Mar 27, 2026 (4 filings since Feb 10, 2022)
  • REILLY FAMILY, LLC Filed SCHEDULE 13G/A on Lamar Advertising Company, latest Feb 13, 2026 (4 filings since Feb 14, 2023)
  • FMR LLC Filed SCHEDULE 13G/A on Lamar Advertising Company, latest Feb 5, 2026 (6 filings since Feb 9, 2022)
  • Janus Henderson Group Ltd. Filed SC 13G/A on Lamar Advertising Company, latest Feb 9, 2023 (2 filings since Feb 10, 2022)
  • Lamar Advertising Company Baton Rouge, Louisiana, United States
    • Alabama Logos, LLC Subsidiary · Alabama, United States
    • Arizona Logos, L.L.C. Subsidiary · Arizona, United States
    • Arkansas Logos, LLC Subsidiary · Delaware, United States
    • Ashby Street Outdoor CC, LLC Subsidiary · Delaware, United States
    • Ashby Street Outdoor Holdings LLC Subsidiary · Delaware, United States
    • Ashby Street Outdoor LLC Subsidiary · Delaware, United States
    • Canadian TODS Limited Subsidiary · Nova Scotia, Canada
    • Colorado Logos, LLC Subsidiary · Delaware, United States
    • Delaware Logos, L.L.C. Subsidiary · Delaware, United States
    • Douglas Outdoor Advertising of GA., LLC Subsidiary · Georgia, United States
    • Fairway CCO Indiana, LLC Subsidiary · Delaware, United States
    • Fairway Media Group, LLC Subsidiary · Delaware, United States
    • Fairway Outdoor Advertising, LLC Subsidiary · Delaware, United States
    • Fairway Outdoor Funding Holdings, LLC Subsidiary · Delaware, United States
    • Fairway Outdoor Funding, LLC Subsidiary · Delaware, United States
    • Florida Logos, LLC Subsidiary · Florida, United States
    • FMO Real Estate, LLC Subsidiary · Delaware, United States
    • Georgia Logos, L.L.C. Subsidiary · Georgia, United States
    • Indiana Logos, LLC Subsidiary · Delaware, United States
    • Interstate Logos TRS, LLC Subsidiary · Delaware, United States
    • Interstate Logos, L.L.C. Subsidiary · Louisiana, United States
    • Kansas Logos, LLC Subsidiary · Delaware, United States
    • Kentucky Logos, LLC Subsidiary · Kentucky, United States
    • Lamar Advantage GP Company, LLC Subsidiary · Delaware, United States
    • Lamar Advantage Holding Company, LLC Subsidiary · Delaware, United States
    • and 72 more

Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What Lamar Advertising Company reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, before depreciation$4.8B6 Dec 31, 2025$4.6B6 Dec 31, 2024+4.2%
Accumulated depreciation$3.1B6 Dec 31, 2025$3.0B6 Dec 31, 2024+3.8%
Property and equipment, net$1.7B6 Dec 31, 2025$1.6B6 Dec 31, 2024+4.9%
Finance-lease assets$5.5M6 Dec 31, 2025$8.3M6 Dec 31, 2024−34.2%
Operating-lease assets (leased space)$1.5B6 Dec 31, 2025$1.4B6 Dec 31, 2024+11.0%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$64.8M6 Dec 31, 2025$49.5M6 Dec 31, 2024+31.0%

Intangibles and goodwill

ItemLatestA year beforeChange
Goodwill$2.1B6 Dec 31, 2025$2.0B6 Dec 31, 2024+3.7%
Finite-lived intangibles, gross$4.0B6 Dec 31, 2025$3.8B6 Dec 31, 2024+5.0%
Accumulated amortization$2.9B6 Dec 31, 2025$2.8B6 Dec 31, 2024+5.1%
Finite-lived intangibles, net$1.1B6 Dec 31, 2025$1.1B6 Dec 31, 2024+4.8%

Properties, in its own words

Our management headquarters is located in Baton Rouge, Louisiana. We also own 126 local operating facilities with front office administration and sales office space connected to back-shop poster and bulletin production space. In addition, the Company leases an additional 171 operating facilities at an aggregate lease expense for 2025 of approximately $10.6 million.

We own approximately 11,200 parcels of property beneath our outdoor advertising structures. As of December 31, 2025, we leased approximately 71,500 active outdoor sites, accounting for a total annual lease expense of approximately $348.1 million. This amount represented approximately 17% of billboard advertising net revenues for the year ended December 31, 2025. These leases are for varying terms ranging from month-to-month to a term of over ten years, and many provide the Company with renewal options. There is no significant concentration of displays under any one lease or subject to negotiation with any one landlord. An important part of our management activity is to manage our lease portfolio and negotiate suitable lease renewals and extensions.

Item 2 of the 10-K filed Feb 20, 2026.20

The story

Lamar Advertising Company was founded in 1902 by J.M. Coe and Charles W. Lamar. The Company became independent under its current name in 1908 in Pensacola, Florida, when Charles W. Lamar Sr. and J.M. Coe decided to dissolve their three-year partnership using a coin toss to divide their assets. The Pensacola Opera House and the Pensacola Advertising Company that was created to be divided between the two men. Charles W. Lamar lost the toss and was left with the less-lucrative poster company, which he renamed the Lamar Outdoor Advertising Company.

The Pensacola Opera House was destroyed during Hurricane Four of the 1917 Atlantic hurricane season, with the Saenger Theatre later built on the site.

On August 2, 1996, following an initial public offering (IPO), Lamar Advertising Company began trading on the NASDAQ with the ticker symbol LAMR. Shortly after the IPO filing, Lamar would go on to acquire several outdoor advertising companies across the United States; in September of 1996, the company acquired over 1,175 displays in Corpus Christi and Laredo, Texas from Revere National Corporation for $9 million, as well as 334 displays in the Panama City, Florida market from Southworth Advertising for $1 million. Later that month, the company announced it acquired FKM Advertising for $40 million, adding a total of 1,209 displays across Ohio and Pennsylvania (659 in the Youngstown market, and 550 on major highways in Pennsylvania). In October, the company acquired Outdoor East for $60 million, adding more than 3,800 displays across the southeastern United States. These acquisitions marked Lamar's entry into new markets in North Carolina, Pennsylvania, South Carolina, and West Virginia. Both the FKM and Outdoor East acquisitions were completed by the end of the year.

In October 2004, Lamar swapped assets in South Carolina and Georgia to Fairway Outdoor Advertising, in exchange for the Palm Springs, CA; Fayetteville, NC; Rocky Mount, NC; and New Bern, NC assets. Later in November, Lamar acquired Obie Media Corporation of Eugene, Oregon, adding outdoor displays in Idaho, Oregon, and Washington; as well as handling transit advertising contracts in a few areas.

In January 2016, Lamar purchased advertising rights in five major American markets from Clear Channel Outdoor for $458.5 million.

From Wikipedia’s article on Lamar Advertising Company, shared under CC BY-SA 4.0.8

Leadership

Who has led Lamar Advertising Company, and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Kevin P. Reilly Jr.2007–2010
  2. Sean E. Reilly2011–now

Chair

  1. Kevin P. Reilly Jr.2020–now

President

  1. Kevin P. Reilly Jr.2007–2019

Chief financial officer

  1. Keith A. Istre2006–2019

Chief operating officer

  1. Sean E. Reilly2006–2010
197019801990200020102020
Board members and other officers (14)

Products and brands

  • billboard
  • digital billboard

Listed on Wikidata.1

Subsidiaries and ownership

Subsidiaries (Exhibit 21)

  • Alabama Logos, LLC Alabama9
  • Arizona Logos, L.L.C. Arizona9
  • Arkansas Logos, LLC Delaware9
  • Ashby Street Outdoor CC, LLC Delaware9
  • Ashby Street Outdoor Holdings LLC Delaware9
  • Ashby Street Outdoor LLC Delaware9
  • Canadian TODS Limited Nova Scotia, Canada9
  • Colorado Logos, LLC Delaware9
  • Delaware Logos, L.L.C. Delaware9
  • Douglas Outdoor Advertising of GA., LLC Georgia9
  • FMO Real Estate, LLC Delaware9
  • Fairway CCO Indiana, LLC Delaware9
  • Fairway Media Group, LLC Delaware9
  • Fairway Outdoor Advertising, LLC Delaware9
  • Fairway Outdoor Funding Holdings, LLC Delaware9
  • Fairway Outdoor Funding, LLC Delaware9
  • Florida Logos, LLC Florida9
  • Georgia Logos, L.L.C. Georgia9
  • Indiana Logos, LLC Delaware9
  • Interstate Logos TRS, LLC Delaware9
  • Interstate Logos, L.L.C. Louisiana9
  • Kansas Logos, LLC Delaware9
  • Kentucky Logos, LLC Kentucky9
  • Lamar Advantage GP Company, LLC Delaware9
All 97 listed subsidiaries
  • Lamar Advantage Holding Company, LLC Delaware9
  • Lamar Advantage LP Company, LLC Delaware9
  • Lamar Advantage Outdoor Company, L.P. Delaware9
  • Lamar Advertising General Partner, LLC Delaware9
  • Lamar Advertising Limited Partnership Delaware9
  • Lamar Advertising Southwest, LLC Delaware9
  • Lamar Advertising of Colorado Springs, L.L.C. Colorado9
  • Lamar Advertising of Louisiana, L.L.C. Louisiana9
  • Lamar Advertising of Michigan, LLC Delaware9
  • Lamar Advertising of Penn, LLC Delaware9
  • Lamar Advertising of Puerto Rico, Inc. Puerto Rico9
  • Lamar Advertising of South Dakota, L.L.C. South Dakota9
  • Lamar Advertising of Youngstown, LLC Delaware9
  • Lamar Air, L.L.C. Louisiana9
  • Lamar Airport Advertising Company Nevada9
  • Lamar Airport Advertising S/W Joint Venture Texas9
  • Lamar Canada Holding Limited Canada9
  • Lamar Canadian Outdoor Company Ontario, Canada9
  • Lamar Central Outdoor, LLC Delaware9
  • Lamar Electrical, LLC Delaware9
  • Lamar Florida, L.L.C. Florida9
  • Lamar Investments, LLC Delaware9
  • Lamar Media Corp. Delaware9
  • Lamar OCI North, L.L.C. Delaware9
  • Lamar OCI South, LLC Delaware9
  • Lamar Obie Company, LLC Delaware9
  • Lamar Ohio Outdoor Holding, LLC Delaware9
  • Lamar QRS Receivables, LLC Delaware9
  • Lamar Service Company, LLC Delaware9
  • Lamar TRS Holdings, LLC Delaware9
  • Lamar TRS Receivables, LLC Delaware9
  • Lamar Tennessee, L.L.C. Tennessee9
  • Lamar Texas Limited Partnership Texas9
  • Lamar Transit Advertising Canada Ltd. British Columbia, Canada9
  • Lamar Transit, LLC Delaware9
  • Lamar-Fairway Blocker 1, LLC Delaware9
  • Lamar-Fairway Blocker 2, LLC Delaware9
  • Louisiana Interstate Logos, L.L.C. Louisiana9
  • MCC Outdoor, LLC Georgia9
  • Magic Media Real Estate, LLC Delaware9
  • Magic Media/Lamar, LLC Delaware9
  • Maine Logos, L.L.C. Maine9
  • Michigan Logos, LLC Delaware9
  • Minnesota Logos, LLC Delaware9
  • Mississippi Logos, L.L.C. Mississippi9
  • Missouri Logos, LLC Missouri9
  • Montana Logos, LLC Montana9
  • Nebraska Logos, LLC Delaware9
  • Nevada Logos, LLC Delaware9
  • New Hampshire Logos, L.L.C. New Hampshire9
  • New Jersey Logos, L.L.C. New Jersey9
  • New Mexico Logos, LLC New Mexico9
  • North Carolina Logos, LLC North Carolina9
  • OBCM, LLC Delaware9
  • Ohio Logos, LLC Delaware9
  • Oklahoma Logos, L.L.C. Oklahoma9
  • Olympus Media/Indiana, LLC Delaware9
  • Outdoor Marketing Systems, L.L.C. Pennsylvania9
  • Outdoor Promotions West, LLC Delaware9
  • QMC Transit, Inc. Puerto Rico9
  • Sky High Murals-Colossal Media, LLC New York9
  • South Carolina Logos, LLC South Carolina9
  • TLC Farms, L.L.C. Louisiana9
  • TLC Properties II, LLC Texas9
  • TLC Properties, LLC Louisiana9
  • Tennessee Logos, LLC Delaware9
  • The Lamar Company, L.L.C. Louisiana9
  • Triumph Outdoor Holdings, LLC Delaware9
  • Triumph Outdoor Rhode Island, LLC Delaware9
  • Utah Logos, LLC Delaware9
  • Virginia Logos, LLC Virginia9
  • Washington Logos, L.L.C. Washington9
  • Wisconsin Logos, LLC Wisconsin9

The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.

Former names

  • LAMAR NEW HOLDING COJul 19, 1999 to Jul 19, 19997

Timeline

  1. Oct 6, 20268-K Entered a material agreement; New debt or obligation39
  2. Sep 1, 20268-K Other events40
  3. Aug 6, 20268-K Results of operations41
  4. May 19, 20268-K Executive or director change; Shareholder vote42
  5. May 14, 20268-K Other events43
  6. May 7, 20268-K Results of operations44
  7. Feb 26, 20268-K Other events45
  8. Feb 20, 20268-K Results of operations46
  9. Dec 11, 20258-K Other events47
  10. Nov 6, 20258-K Results of operations48
  11. Oct 1, 20258-K Entered a material agreement; New debt or obligation49
  12. Sep 24, 20258-K Entered a material agreement; New debt or obligation50
  13. Feb 23, 2011New chief executive Sean E. Reilly becomes CEO21
  14. Feb 21, 2007New chief executive Kevin P. Reilly Jr. becomes CEO22
  15. Aug 2, 1996Went public Listed on NASDAQ1
  16. 1902Founded Founded1

Calendar

Coming up

  1. Nov 5, 2026 · Before the openReports results for the quarter ending Sep/2026 A year earlier it reported $2.20 a share, on Nov 6, 2025.51

When it reported results

  1. Aug 6, 2026Reported quarterly or annual results41
  2. May 7, 2026Reported quarterly or annual results44
  3. Feb 20, 2026Reported quarterly or annual results46
  4. Nov 6, 2025Reported quarterly or annual results48
  5. Aug 8, 2025Reported quarterly or annual results52
  6. May 8, 2025Reported quarterly or annual results53
  7. Feb 20, 2025Reported quarterly or annual results54
  8. Nov 8, 2024Reported quarterly or annual results55

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

230 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 61 major events, 98 insider forms, 25 large holders, 26 other. The latest 20:

  1. Oct 6, 20268-K EDGAR
  2. Sep 16, 20264 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES EDGAR
  3. Sep 14, 2026144 EDGAR
  4. Sep 1, 20268-K EDGAR
  5. Aug 6, 202610-Q EDGAR
  6. Aug 6, 20268-K EDGAR
  7. Jun 24, 20264 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES EDGAR
  8. Jun 15, 20264 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES EDGAR
  9. May 19, 20268-K EDGAR
  10. May 18, 20264 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES EDGAR
  11. May 18, 20264 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES EDGAR
  12. May 18, 20264 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES EDGAR
  13. May 18, 20264 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES EDGAR
  14. May 18, 20264 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES EDGAR
  15. May 18, 20264 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES EDGAR
  16. May 18, 20264 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES EDGAR
  17. May 18, 20264 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES EDGAR
  18. May 14, 20268-K EDGAR
  19. May 12, 20264 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES EDGAR
  20. May 11, 2026144 EDGAR

The 230 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

21 open-market trades by officers, directors and large owners since October 2021: 3 buys and 18 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Sep 14, 2026REIFENHEISER THOMAS VDirectorSale8,099$149.03$1.2MForm 4
May 11, 2026Johnson Jay LeCoryelleCFO, Treasurer, EVPSale10,000$157.02$1.6MForm 4
Mar 23, 2026Reilly Ross LamarEVP, President, Outdoor DivSale5,969$128.65$767.9KForm 4
Mar 5, 2026Johnson Jay LeCoryelleCFO, Treasurer, EVPSale1,260$137.56$173.3KForm 4
Aug 22, 2025Johnson Jay LeCoryelleCFO, Treasurer, EVPSale22,000$124.28$2.7MForm 4
Feb 24, 2025Fletcher NancyDirectorBuy235$123.18$28.9KForm 4
May 10, 2024KOERNER JOHN E IIIDirectorSale17,000$120.05$2.0MForm 4
Mar 7, 2024Johnson Jay LeCoryelleCFO, Treasurer, EVPSale5,000$118.97$594.9KForm 4
Sep 5, 2023Johnson Jay LeCoryelleCFO, Treasurer, EVPSale5,000$89.50$447.5KForm 4
Sep 1, 2023Fletcher NancyDirectorBuy100$91.94$9.2KForm 4
Mar 20, 2023Johnson Jay LeCoryelleCFO, Treasurer, EVPSale6,000$95.63$573.8KForm 4
Feb 28, 2023Fletcher NancyDirectorBuy200$105.23$21.0KForm 4
Nov 28, 2022REIFENHEISER THOMAS VDirectorSale2,200$98.61$216.9KForm 4
Nov 25, 2022Reilly WendellDirectorSale4,000$100.00$400.0KForm 4
Nov 16, 2022REIFENHEISER THOMAS VDirectorSale4,425$95.50$422.6KForm 4
Nov 16, 2022REIFENHEISER THOMAS VDirectorSale6,428$95.50$613.9KForm 4
Nov 15, 2022KOERNER JOHN E IIIDirectorSale5,881$95.86$563.8KForm 4
Aug 15, 2022Johnson Jay LeCoryelleCFO, Treasurer, EVPSale4,000$106.35$425.4KForm 4
Jun 23, 2022REILLY ANNADirectorSale10,000$90.17$901.7KForm 4
Mar 2, 2022Johnson Jay LeCoryelleCFO, Treasurer, EVPSale1,424$108.84$155.0KForm 4

All 21 trades can be filtered by person here when JavaScript is on.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Executive pay

What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.

YearExecutiveAgeSalaryTotal pay
2025Sean E. ReillyChief Executive Officer and President64$900.0K$8.5M63
2025Jay L. JohnsonExecutive Vice President, Chief Financial Officer and Treasurer49$700.0K$4.7M63
2025Kevin P. Reilly, Jr.Executive Chairman of the Board71$100.0K$3.2M63
2024Sean E. ReillyChief Executive Officer and President64$900.0K$9.4M63
2024Jay L. JohnsonExecutive Vice President, Chief Financial Officer and Treasurer49$700.0K$5.4M63
2024Kevin P. Reilly, Jr.Executive Chairman of the Board71$100.0K$3.5M63
2023Sean E. ReillyChief Executive Officer and President64$700.0K$6.3M63
2023Jay L. JohnsonExecutive Vice President, Chief Financial Officer and Treasurer49$600.0K$3.5M63
2023Kevin P. Reilly, Jr.Executive Chairman of the Board71$100.0K$2.8M63

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
BlackRock, Inc.9,614,182$1.5B0.0%−368,095
Vanguard Portfolio Management LLC7,506,411$1.2B0.1%+21,344
Vanguard Capital Management LLC3,927,671$612.6M0.0%+29,579
Fmr LLC3,170,047$494.5M0.0%−633,106
Geode Capital Management, LLC2,807,453$438.0M0.0%+273,859
State Street Corp2,728,605$425.6M0.0%+49,632
Jupiter Topco LLC2,724,525$425.0M0.2%New
Victory Capital Management Inc2,342,304$365.4M0.2%−568,149
Boston Partners2,317,282$361.5M0.3%+80,643
Wellington Management Group Llp2,125,742$331.6M0.1%+27,100
Northern Trust Corp1,536,592$239.7M0.0%−21,497
Morgan Stanley1,435,353$223.9M0.0%+58,996
Aqr Capital Management LLC1,434,345$222.0M0.1%+189,242
Charles Schwab Investment Management Inc1,342,240$209.4M0.0%+50,738
Hamlin Capital Management, LLC1,340,213$209.0M4.7%−40,454
Dimensional Fund Advisors LP1,310,044$204.3M0.0%+2,951
Egerton Capital (UK) LLP1,090,619$170.1M1.6%+1,875
DAVENPORT & Co LLC1,012,248$158.0M0.8%−71,026
Daiwa Securities Group Inc.947,214$147.7M0.3%−219,725
Invesco Ltd.936,805$146.1M0.0%−140,059
Capital World Investors903,020$140.9M0.0%No change
Quantinno Capital Management LP873,591$136.3M0.2%+196,389
Bank of New York Mellon Corp865,605$135.0M0.0%−21,061
Norges Bank775,936$121.0M0.0%New
HighTower Advisors, LLC774,828$120.9M0.1%−45,190

13F reports cover disclosed long positions in U.S. stocks only.

Members of Congress who traded it

7 trades disclosed by members of Congress. “Vs S&P since” is the stock’s change since the trade minus the S&P 500’s.

DateMemberTradeAmountVs S&P sinceFiling
Aug 25, 2026Gilbert Ray Cisneros, Jr.Democratic, HouseSale$15,001 - $50,000+3.3%Report
Aug 24, 2026Gilbert Ray Cisneros, Jr.Democratic, HousePartial sale$15,001 - $50,000+4.1%Report
Aug 20, 2026Gilbert Ray Cisneros, Jr.Democratic, HousePartial sale$15,001 - $50,000+3.2%Report
Jul 16, 2026Gilbert Ray Cisneros, Jr.Democratic, HousePartial sale$1,001 - $15,000+11.6%Report
Sep 8, 2023Lois FrankelDemocratic, HouseSale$1,001 - $15,000+2.0%Report
Feb 17, 2023Lois FrankelDemocratic, HouseBuy$1,001 - $15,000−52.1%Report
Mar 23, 2020Zoe LofgrenDemocratic, HouseSale$1,001 - $15,000−111.8%Report

Members report amounts as ranges, not exact figures. Returns are price-only (no dividends).

SEC filer profile

How Lamar Advertising Company is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARLAMAR ADVERTISING CO/NEW2
  • CIK0001090425
  • Employer ID (EIN)47-096162020
  • Filer statusLarge accelerated filer not an emerging growth company; not a smaller reporting company; not a shell company20
  • Incorporated inDelaware20
  • Fiscal year endsDecember 312
  • Industry code (SIC)6798 Real Estate Investment Trusts2
  • SEC reviewing officeOffice of Real Estate & Construction, Division of Corporation Finance2
  • Business addressC/O Lamar Advertising Company, 5321 Corporate Boulevard, Baton Rouge, LA 708082
  • Phone22592610002
  • Shares outstanding86,910,542 Common Class A shares; 14,420,085 Common Class B shares; 100 Lamar Media Corporation And Subsidiaries shares as of Feb 1, 202620
  • Public float$10.2B as of Jun 30, 202520
  • AuditorKPMG LLP, Baton Rouge, LA PCAOB ID 185; it also attests to the company’s internal control over financial reporting20
  • On EDGAR sinceJul 19, 19992
  • Filings1,349 in all: 4 (482), 8-K (325), SC 13G/A (138), 10-Q (82), SC 13G (28), 10-K (27), DEF 14A (27), UPLOAD (19)2
    All 44 form types

    ARS (17), S-8 (17), SC 13D/A (15), 3 (13), DEFA14A (13), 425 (12), CORRESP (12), 4/A (10), 424B3 (9), 424B5 (9), S-8 POS (9), SC TO-I/A (9), 144 (8), SCHEDULE 13G/A (8), 5 (6), S-4 (6), 10-Q/A (5), 8-K/A (5), S-3ASR (5), SC 13D (5), SC TO-I (4), 10-K/A (3), S-3 (3), SCHEDULE 13G (3), POS AM (2), S-4/A (2), SC TO-C (2), 424B7 (1), 8-A12B/A (1), 8-K12B (1), 8-K12G3 (1), DEFM14A (1), DEFM14C (1), EFFECT (1), NT 10-Q (1), PRE 14A (1)

  • Latest filingsAnnual report (10-K) Feb 20, 2026
    Quarterly report (10-Q) Aug 6, 2026
    Proxy statement (DEF 14A) Apr 2, 2026
    Latest 8-K (8-K) Oct 6, 2026

Securities registered for trading

ClassSymbolExchange
Class A common stock, $0.001 par valueLAMRNASDAQ

From the cover page of the 10-K filed Feb 20, 2026 (Section 12(b) of the Exchange Act).20

Risk factors and legal proceedings

The risks Lamar Advertising Company names in Item 1A of its 10-K filed Feb 20, 2026: 33 risks under these headings, as written.20

  • Risks Related to Our Capital Structure
  • The Company’s substantial debt may adversely affect its business, financial condition and financial results.
  • The Company may be unable to generate sufficient cash flow to satisfy its significant debt service obligations.
  • Restrictions in the Company’s and Lamar Media’s debt agreements reduce operating flexibility and contain covenants and restrictions that create the potential for defaults, which could adversely affect the Company’s business, financial condition and financial results.
  • The Company is controlled by significant stockholders who have the power to determine the outcome of all matters submitted to the stockholders for approval and whose interest in the Company may be different than yours.
  • Our UPREIT structure may result in potential conflicts of interest.
  • Risks Related to Our Business
  • The Company’s growth through acquisitions may be difficult, which could adversely affect our future financial performance. In addition, if we are unable to successfully integrate any completed acquisitions, our financial performance would also be adversely affected.
  • The Company could suffer losses due to asset impairment charges for goodwill and other intangible assets.
  • The Company’s logo sign contracts are subject to state award and renewal.
  • The Company’s transit advertising contracts are subject to the Company’s ability to obtain and renew favorable contracts with municipalities and airport authorities.
  • If the Company’s contingency plans relating to hurricanes and other natural disasters fail, the resulting losses could hurt the Company’s business.
The other 23 risks
  • The Company’s strategy involves continued investment in its digital platform, and we may fail to realize certain expected benefits of these investments and such investments may become more costly.
  • Our cash distributions are not guaranteed and may fluctuate.
  • The Lamar Advertising charter, the Lamar Advertising bylaws and Delaware law may inhibit a takeover that stockholders consider favorable and could also limit the market price of Lamar Advertising stock.
  • Risks Related to Our Industry
  • The Company’s revenues are sensitive to the state of the economy and the financial markets generally and other external events beyond the Company’s control.
  • The Company faces competition from larger and more diversified outdoor advertisers and other forms of advertising that could hurt its performance.
  • Additional content-based restrictions on the categories of customers that can advertise on our outdoor advertising structures may be implemented by governmental authorities.
  • Federal, state and local regulation impact the Company’s operations, financial condition and financial results.
  • Our business and operations could suffer in the event of cybersecurity breaches and we may incur significant legal and financial exposure.
  • We could be negatively impacted by environmental, social and governance (ESG) and sustainability matters.
  • Risks Related to Our Status as a REIT
  • If Lamar Advertising fails to remain qualified as a REIT, both Lamar Advertising and Lamar Media would be taxed as regular C corporations and would not be able to deduct distributions to the stockholders of Lamar Advertising when computing their taxable income.
  • Even if it qualifies as a REIT, certain of Lamar Advertising’s and its subsidiaries’ business activities will be subject to U.S. and foreign taxes which will continue to reduce its cash flows, and it will have potential deferred and contingent tax liabilities.
  • Dividends payable by REITs generally do not qualify for the reduced tax rates on dividend income from non-REIT corporations.
  • Gain on disposition of assets deemed held for sale in the ordinary course of business is subject to 100% tax.
  • Failure to make sufficient distributions would jeopardize Lamar Advertising’s qualification as a REIT and/or would subject it to U.S. federal income and excise taxes.
  • Covenants specified in our existing and future debt instruments may limit Lamar Advertising’s ability to make required REIT distributions.
  • Lamar Advertising and its subsidiaries may be required to borrow funds, sell assets, or raise equity to satisfy its REIT distribution requirements or maintain the asset tests.
  • Complying with REIT requirements may cause Lamar Advertising or its subsidiaries (other than TRSs) to forego otherwise attractive opportunities.
  • Ownership limitations contained in the Lamar Advertising charter may restrict stockholders from acquiring or transferring certain amounts of shares.
  • If Lamar Advertising’s operating partnership does not qualify as a partnership, its income may be subject to taxation, and Lamar Advertising would no longer qualify as a REIT.
  • Lamar Advertising may potentially be unable to deduct the full amount of its interest expense.
  • Legislative changes or other actions affecting REITs could have a negative effect on Lamar Advertising and its subsidiaries.
  • The ability of the Board of Directors of Lamar Advertising to revoke its REIT election, without stockholder approval, may cause adverse consequences to its stockholders.
  • We are subject to risks related to our use of Artificial Intelligence.

Legal proceedings

The Company from time to time is involved in litigation in the ordinary course of business, including disputes involving advertising contracts, site leases, employment claims and construction matters. The Company is also involved in routine administrative and judicial proceedings regarding billboard permits, fees and compensation for condemnations. The Company is not a party to any lawsuit or proceeding which, in the opinion of management, is likely to have a material adverse effect on the Company.

The opening of Item 3, Legal Proceedings.20

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