Filing Flows › Lamar Advertising (LAMR) › Q3 2025
Lamar Advertising (LAMR) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 6, 2025
Lamar Advertising (LAMR) reported revenue of $586M for the third quarter 2025 (Q3 2025), +4% from a year earlier and +1% from the quarter before. Operating margin was 32.3%, net earnings $142M (24.2% of revenue).
Lamar Advertising, Q3 2025: revenue $586M (+4% year over year), operating margin 32.3%, net earnings $142M, operating cash flow $236M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $586M | +1% | +4% |
| Operating profit | $189M | -4% | +1% |
| Net earnings | $142M | -8% | -4% |
| Operating cash flow | $236M | +3% | +4% |
| Free cash flow | $186M | -3% | -6% |
What changed
Revenue was $585.5M in Q3 2025, up 4% year over year and up 1% from the previous quarter. Billboard advertising was the largest line at 90% of revenue. Billboard advertising added $22.2M year over year (up 4%), 104% of the total change. Transit advertising declined 6%.
Operating profit was $189.1M, a 32.3% margin (down 0.8 points year over year). Of the extra revenue versus a year earlier, 12% reached operating profit, below the 33% margin then. Total costs grew 5% against revenue growth of 4%. The fastest-growing cost line was Other operating costs (+11%). Net earnings were $141.8M, down 4% year over year. The effective tax rate was 1.7%.
Operating cash flow was $235.7M (up 4% year over year), 164% of net earnings. Non-cash charges added back $86.3M of depreciation and amortization and $7.6M of share-based compensation. Capital expenditures of $49.9M left free cash flow of $185.8M.
Questions
What was Lamar Advertising's revenue in the third quarter 2025?
Lamar Advertising (LAMR) reported revenue of $586M for the third quarter 2025 (Q3 2025), +4% from a year earlier and +1% from the quarter before.
Was Lamar Advertising profitable in the third quarter 2025?
Operating profit was $189M (32.3% of revenue) and net earnings $142M.
Source: Lamar Advertising 10-Q on SEC EDGAR.