Revenue Growth and AFFO Increase
Revenue was up 4.1% on an acquisition-adjusted basis compared to Q4 2023, with full-year AFFO per share increasing by 7%.
Digital Billboard Expansion
Digital billboard revenue increased nearly 8% year-over-year, with same-store growth of 3.7%. The company plans to deploy at least 350 new digital displays in 2025.
Successful Divestment of Vistar Media Stake
Lamar sold its 20% stake in Vistar Media to T-Mobile for $115 million, with an additional $15 million due, resulting in a return of over 4x the initial investment.
Solid Financial Performance
Adjusted EBITDA grew 3.9% year-over-year in Q4, with free cash flow improving by 8.5%.
Strong Balance Sheet
Lamar reduced overall debt by $136 million in 2024, with a total leverage ratio of 2.83x net debt to EBITDA.