Lamar Sees Lowered Second Quarter Revenue Estimate And
Stock Drops As A Result.
Lamar Advertising Company,one of the three largest outdoor
operators in the U.S.,has made a second quarter revenue forecast
of $282 million,as compared with analysts’ estimates of $284.4
million. As a result,shares of Lamar fell almost 11% in
afternoon trading following the announcement.
Lazard
Capital Markets analyst Barton Crockett said that revenue
recovery was coming slower than expected. "Ad markets are
rebounding strongly on other local media,and outdoor advertising
is seen as a few-quarter laggard" he said.
Lamar said
that pricing has firmed up in the smaller and middle markets,but
not so in the larger markets. "Slow and steady is where we think
we are headed for the rest of the year" said Lamar CEO Kevin
Reilly.
Lamar’s first quarter net loss also widened to
$24.8 million from $21.7 million a year earlier.
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About the Author:
Frank Rolfe started his
billboard empire from his coffee table, as a
fresh graduate from Stanford University.
It began as a resume builder for graduate school
applications, and ended with a sale to a public
company 14 years later.
Using unique strategies he developed from
desperate competition with much larger
adversaries, Rolfe eventually owned more
billboard units than any private individual in
Dallas/Ft. Worth. Along the way, he
fine-tuned the techniques to find billboard
locations, rent advertising space, and sell
signs and leases.
Rolfe is the author of the
Billboard Home Study Course and has also put
together the only bootcamp for those looking for
a crash course on the billboard industry.
The
Billboard Bootcamp is held twice a year in
St. Louis, MO.
