Filing Flows › Lamar Advertising (LAMR) › Q1 2026
Lamar Advertising (LAMR) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 7, 2026
Lamar Advertising (LAMR) reported revenue of $528M for the first quarter 2026 (Q1 2026), +4% from a year earlier and -11% from the quarter before. Operating margin was 27.7%, net earnings $101M (19.2% of revenue).
Lamar Advertising, Q1 2026: revenue $528M (+4% year over year), operating margin 27.7%, net earnings $101M, operating cash flow $147M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $528M | -11% | +4% |
| Operating profit | $146M | -26% | -24% |
| Net earnings | $101M | -33% | -27% |
| Operating cash flow | $147M | -46% | +15% |
| Free cash flow | $114M | -45% | +17% |
What changed
Revenue was $528.0M in Q1 2026, up 4% year over year and down 11% from the previous quarter. Billboard advertising was the largest line at 89% of revenue. Billboard advertising added $23.7M year over year (up 5%), 105% of the total change. Transit advertising declined 6%.
Operating profit was $146.1M, a 27.7% margin (down 10.2 points year over year). Operating profit fell $45.2M even though revenue rose $22.6M versus Q1 2025, so costs grew faster than sales. Total costs grew 22% against revenue growth of 4%. The fastest-growing cost line was Other operating costs (+158%). Net earnings were $101.3M, down 27% year over year. The effective tax rate was 3.8%.
Operating cash flow was $147.4M (up 15% year over year), 145% of net earnings. Non-cash charges added back $81.9M of depreciation and amortization and $11.2M of share-based compensation. Working capital and other items used $47.6M. Capital expenditures of $33.1M left free cash flow of $114.2M.
Questions
What was Lamar Advertising's revenue in the first quarter 2026?
Lamar Advertising (LAMR) reported revenue of $528M for the first quarter 2026 (Q1 2026), +4% from a year earlier and -11% from the quarter before.
Was Lamar Advertising profitable in the first quarter 2026?
Operating profit was $146M (27.7% of revenue) and net earnings $101M.
Source: Lamar Advertising 10-Q on SEC EDGAR.