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Summarized Financial Information of Subsidiaries (Subsidiary)
9 Months Ended
Sep. 30, 2025
LAMAR MEDIA CORP. AND SUBSIDIARIES  
Condensed Income Statements, Captions [Line Items]  
Summarized Financial Information of Subsidiaries Summarized Financial Information of Subsidiaries
Summarized financial information for Lamar Media, subsidiary guarantors and non-guarantor subsidiaries is presented below. Lamar Media and its subsidiary guarantors have fully and unconditionally guaranteed Lamar Media’s obligations with respect to its publicly issued notes. All guarantees are joint and several. As a result of these guarantee arrangements, we are required to present the following summarized financial information. The following summarized financial information should be read in conjunction with the accompanying consolidated financial statements and notes. Separate financial statements of Lamar Media’s subsidiary guarantors are not included because the guarantors are each a consolidated subsidiary of Lamar Media, Lamar Media’s consolidated financial statements have been filed, and the guaranteed securities are debt securities with Lamar Media as the issuer. The accounts for all companies reflected herein are presented using the equity method of accounting for investments in subsidiaries.
Summarized Balance Sheet as of September 30, 2025

Lamar
Media Corp.
Guarantor
Subsidiaries
Non-
Guarantor
Subsidiaries
EliminationsLamar Media
Consolidated
Current assets$12,808 $50,437 $343,842 $— $407,087 
Noncurrent assets4,453,449 6,642,644 220,658 (4,917,278)6,399,473 
Current liabilities45,871 440,687 197,223 — 683,781 
Noncurrent liabilities3,393,154 1,852,597 409,971 (573,261)5,082,461 
Non-controlling interest— 14,100 (1,014)— 13,086 

Summarized Balance Sheet as of December 31, 2024

Lamar Media
Corp.
Guarantor
Subsidiaries
Non-
Guarantor
Subsidiaries
EliminationsLamar Media
Consolidated
Current assets$38,950 $52,617 $333,201 $— $424,768 
Noncurrent assets4,302,475 6,368,402 297,831 (4,823,669)6,145,039 
Current liabilities50,707 444,841 272,265 — 767,813 
Noncurrent liabilities3,249,628 1,738,404 384,695 (612,672)4,760,055 
Non-controlling interest— 1,770 (921)— 849 
Summarized Statements of Income and Comprehensive Income
for the Three Months Ended September 30, 2025

Lamar Media Corp.Guarantor SubsidiariesNon-Guarantor SubsidiariesEliminationsLamar Media Consolidated
Net revenues$— $576,915 $8,743 $(117)$585,541 
Operating expenses (income)
— 381,588 14,861 (117)396,332 
Operating income (loss)
— 195,327 (6,118)— 189,209 
Net income (loss)
141,878 190,163 (8,350)(179,491)144,200 
Net income (loss) attributable to controlling interest
141,878 188,119 (8,628)(179,491)141,878 

Summarized Statements of Income and Comprehensive Income
for the Three Months Ended September 30, 2024

Lamar Media Corp.Guarantor SubsidiariesNon-Guarantor SubsidiariesEliminationsLamar Media Consolidated
Net revenues$— $552,011 $12,864 $(740)$564,135 
Operating expenses (income)
— 365,892 12,316 (740)377,468 
Operating income (loss)
— 186,119 548 — 186,667 
Net income (loss)
147,587 185,249 1,751 (186,654)147,933 
Net income (loss) attributable to controlling interest
147,587 185,000 1,654 (186,654)147,587 
Summarized Statements of Income and Comprehensive Income
for the Nine Months Ended September 30, 2025

Lamar Media
Corp.
Guarantor
Subsidiaries
Non-
Guarantor
Subsidiaries
EliminationsLamar Media
Consolidated
Net revenues$— $1,638,106 $32,719 $(543)$1,670,282 
Operating expenses (income)
— 1,052,916 39,527 (543)1,091,900 
Operating income (loss)
— 585,190 (6,808)— 578,382 
Net income (loss)
435,247 564,355 (15,920)(544,978)438,704 
Net income (loss) attributable to controlling interest
435,247 561,711 (16,733)(544,978)435,247 

Summarized Statements of Income and Comprehensive Income
for the Nine Months Ended September 30, 2024

Lamar Media
Corp.
Guarantor
Subsidiaries
Non-
Guarantor
Subsidiaries
EliminationsLamar Media
Consolidated
Net revenues$— $1,592,981 $36,253 $(1,698)$1,627,536 
Operating expenses (income)
— 1,096,444 36,977 (1,698)1,131,723 
Operating income (loss)
— 496,537 (724)— 495,813 
Net income (loss)
363,496 491,782 (7,381)(483,552)364,345 
Net income (loss) attributable to controlling interest
363,496 491,201 (7,649)(483,552)363,496