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Segment Reporting (Subsidiary) (Tables) | 6 Months Ended
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Jun. 30, 2025
Condensed Income Statements, Captions [Line Items] |
Schedule of Reconciliation of Net Income to Adjusted EBITDA | The following table presents our financial performance by segment:
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2025 |  | 2024 |  | 2025 |  | 2024
Net revenues: |  |  |  |  |  |  |
Billboard | $ | 512,317 |  |  | $ | 502,144 |  |  | $ | 957,214 |  |  | $ | 941,529 |
Other | 66,994 |  |  | 63,107 |  |  | 127,527 |  |  | 121,872 |
Total net revenues | $ | 579,311 |  |  | $ | 565,251 |  |  | $ | 1,084,741 |  |  | $ | 1,063,401 |
Advertising expenses: |  |  |  |  |  |  |
Billboard | $ | 221,892 |  |  | $ | 219,058 |  |  | $ | 438,823 |  |  | $ | 428,961 |
Other | 51,943 |  |  | 48,731 |  |  | 103,835 |  |  | 97,752 |
Total advertising expenses | $ | 273,835 |  |  | $ | 267,789 |  |  | $ | 542,658 |  |  | $ | 526,713 |
Segmented adjusted EBITDA: |  |  |  |  |  |  |
Billboard adjusted EBITDA | $ | 290,425 |  |  | $ | 283,086 |  |  | $ | 518,391 |  |  | $ | 512,568 |
Other adjusted EBITDA | 15,051 |  |  | 14,376 |  |  | 23,692 |  |  | 24,120 |
Corporate expenses (1) | (27,093) |  |  | (25,908) |  |  | (53,479) |  |  | (53,212) |
Adjusted EBITDA | $ | 278,383 |  |  | $ | 271,554 |  |  | $ | 488,604 |  |  | $ | 483,476 |
(1)Corporate operations are not an operating segment. Corporate expenses include expenses related to infrastructure and support, including information technology, human resources, legal, finance and administrative functions of the Company, as well as overall executive, administrative and support functions. Reconciliation of adjusted EBITDA to income before income tax expense:
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2025 |  | 2024 |  | 2025 |  | 2024
Adjusted EBITDA | $ | 278,383 |  |  | $ | 271,554 |  |  | $ | 488,604 |  |  | $ | 483,476 |
Stock-based compensation expense | (7,148) |  |  | (11,150) |  |  | (17,725) |  |  | (25,616) |
Capitalized contract fulfillment costs, net | 380 |  |  | 190 |  |  | 5 |  |  | 374 |
Depreciation and amortization | (78,110) |  |  | (77,191) |  |  | (155,931) |  |  | (152,419) |
Gain on disposition of assets and investments | 4,176 |  |  | 824 |  |  | 73,961 |  |  | 3,012 |
Equity in (loss) earnings of investee | (174) |  |  | 4 |  |  | 206 |  |  | (555) |
Interest expense, net | (40,103) |  |  | (43,765) |  |  | (77,943) |  |  | (87,785) |
Income before income tax expense | $ | 157,404 |  |  | $ | 140,466 |  |  | $ | 311,177 |  |  | $ | 220,487 |
LAMAR MEDIA CORP. AND SUBSIDIARIES |
Condensed Income Statements, Captions [Line Items] |
Schedule of Reconciliation of Net Income to Adjusted EBITDA | The following table presents our financial performance by segment:
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2025 |  | 2024 |  | 2025 |  | 2024
Net revenues: |  |  |  |  |  |  |
Billboard | $ | 512,317 |  |  | $ | 502,144 |  |  | $ | 957,214 |  |  | $ | 941,529 |
Other | 66,994 |  |  | 63,107 |  |  | 127,527 |  |  | 121,872 |
Total net revenues | $ | 579,311 |  |  | $ | 565,251 |  |  | $ | 1,084,741 |  |  | $ | 1,063,401 |
Advertising expenses: |  |  |  |  |  |  |
Billboard | $ | 221,892 |  |  | $ | 219,058 |  |  | $ | 438,823 |  |  | $ | 428,961 |
Other | 51,943 |  |  | 48,731 |  |  | 103,835 |  |  | 97,752 |
Total advertising expenses | $ | 273,835 |  |  | $ | 267,789 |  |  | $ | 542,658 |  |  | $ | 526,713 |
Segmented adjusted EBITDA: |  |  |  |  |  |  |
Billboard adjusted EBITDA | $ | 290,425 |  |  | $ | 283,086 |  |  | $ | 518,391 |  |  | $ | 512,568 |
Other adjusted EBITDA | 15,051 |  |  | 14,376 |  |  | 23,692 |  |  | 24,120 |
Corporate expenses (1) | (26,943) |  |  | (25,727) |  |  | (53,220) |  |  | (52,893) |
Adjusted EBITDA | $ | 278,533 |  |  | $ | 271,735 |  |  | $ | 488,863 |  |  | $ | 483,795 |
(1)Corporate operations are not an operating segment. Corporate expenses include expenses related to infrastructure and support, including information technology, human resources, legal, finance and administrative functions of the Company, as well as overall executive, administrative and support functions. Reconciliation of adjusted EBITDA to income before income tax expense:
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2025 |  | 2024 |  | 2025 |  | 2024
Adjusted EBITDA | $ | 278,533 |  |  | $ | 271,735 |  |  | $ | 488,863 |  |  | $ | 483,795 |
Stock-based compensation expense | (7,148) |  |  | (11,150) |  |  | (17,725) |  |  | (25,616) |
Capitalized contract fulfillment costs, net | 380 |  |  | 190 |  |  | 5 |  |  | 374 |
Depreciation and amortization | (78,110) |  |  | (77,191) |  |  | (155,931) |  |  | (152,419) |
Gain on disposition of assets and investments | 4,176 |  |  | 824 |  |  | 73,961 |  |  | 3,012 |
Equity in (loss) earnings of investee | (174) |  |  | 4 |  |  | 206 |  |  | (555) |
Interest expense, net | (40,103) |  |  | (43,765) |  |  | (77,943) |  |  | (87,785) |
Income before income tax expense | $ | 157,554 |  |  | $ | 140,647 |  |  | $ | 311,436 |  |  | $ | 220,806 |

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