Lamar Advertising Withdraws 2020 Guidance - Quick Facts

(RTTNews) - Lamar Advertising Company (LAMR) said its previously provided guidance for full-year AFFO per share is no longer applicable due to the uncertainty resulting from the coronavirus pandemic. Lamar also announced its board is evaluating dividend plans for the balance of the year.

Lamar now expects total capital expenditures for 2020 to be approximately $58 million, down from its prior estimate of $130 million. The company said it will sharply curtail spending on capital projects, including new digital displays. The company will also suspend its acquisition activity.