Filing Flows › Lamar Advertising (LAMR) › Q3 2026 › vs Q2 2026
Lamar Advertising (LAMR) Q3 2026 vs Q2 2026 (quarter over quarter)
Lamar Advertising's revenue rose $7.7M (+1%) from $617M in Q2 2026 to $624M in Q3 2026. The biggest changes: Billboard advertising +$10.0M (+2%); Logo advertising −$1.2M (-5%); Transit advertising −$1.1M (-3%). Operating margin 33.5% against 33.7% (-0.2 pts).
Lamar Advertising, Q3 2026: revenue $624M (+7% year over year), operating margin 33.5%, net earnings $162M, operating cash flow $284M. The chart draws each line against Q2 2026, the increases inside each band.
Margins
| Q3 2026 | Q2 2026 | Change | |
|---|---|---|---|
| Operating margin | 33.5% | 33.7% | -0.2 pts |
| Net margin | 25.9% | 26.1% | -0.1 pts |
| Free cash flow margin | 38.3% | 34.0% | +4.3 pts |
Every line
| Line | Q3 2026 | Q2 2026 | Change | % |
|---|---|---|---|---|
| Billboard advertising | $562M | $552M | $10.0M | +2% |
| Transit advertising | $39.9M | $41.0M | −$1.1M | -3% |
| Logo advertising | $22.3M | $23.5M | −$1.2M | -5% |
| Revenue | $624M | $617M | $7.7M | +1% |
| Operating profit | $209M | $208M | $1.5M | +0.7% |
| Costs & expenses | $415M | $409M | $6.2M | +2% |
| Pre-tax earnings | $169M | $167M | $1.3M | +0.8% |
| Other expense, net | $40.8M | $40.6M | $208K | +0.5% |
| Cost of revenue | $196M | $194M | $2.2M | +1% |
| General & admin | $101M | $96.2M | $4.5M | +5% |
| Other operating costs | $118M | $118M | −$381K | -0.3% |
| Net earnings | $162M | $161M | $1.1M | +0.7% |
| Minority interests | $3.2M | $3.9M | −$737K | -19% |
| Income tax | $3.6M | $2.7M | $885K | +32% |
| Depreciation & amortization | $101M | $84.4M | $16.2M | +19% |
| Share-based compensation | $13.1M | $14.1M | −$1.0M | -7% |
| Working capital & other | $8.5M | −$6.8M | $15.3M | — |
| Operating cash flow | $284M | $252M | $31.6M | +13% |
| Free cash flow (OCF − capex) | $239M | $210M | $29.4M | +14% |
| Capital expenditures | $45.0M | $42.7M | $2.3M | +5% |
Questions
How much did Lamar Advertising's revenue grow quarter over quarter in Q3 2026?
Lamar Advertising's revenue rose $7.7M (+1%) from $617M in Q2 2026 to $624M in Q3 2026.
What drove Lamar Advertising's revenue change in Q3 2026?
Billboard advertising +$10.0M (+2%); Logo advertising −$1.2M (-5%); Transit advertising −$1.1M (-3%).