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Lamar Advertising, the nation’s third largest outdoor media company, reported third-quarter earnings Thursday (Nov. 5) that beat analyst expectations and offered plenty of optimism that a turnaround was underway in outdoor advertising.
Third-quarter revenue was down 13 percent to $271.8 million, two percentage points better than the projected decline of 15 percent. For the first nine months, Lamar’s revenue was down 13.6 percent to $793.8 million.
“The worst is behind us,” said Sean Riley, chief operating officer and president, who added that the company expected to end the year down 7 percent.
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