“2022 was the most successful year in the company’s history” was how an upbeat Lamar Advertising CEO Sean Reilly lead off the company’s earnings call. Here are the results of the Lamar Advertising 4Q 22 earnings release and earnings call. Net revenue increased 8.3% to $535 during the fourth quarter […]
“We’re proud to deliver on our original guidance especially in light of some of the headwinds in the macro environment and the rapid rise in interest rates,” was how OUTFRONT CEO Jeremy Male led off the fourth quarter 2022 earnings call. Here are the results from the OUTFRONT 4Q 22 […]
Hoya Capital published a decent out of home review titled Billboard Reits: We’re Paying Attention (Lamar Vs Outfront). Forward a copy to your banker. The article explains how out of home works and summarizes industry strengths (e.g. regulatory barriers to entry, digital billboard upside, attractive CPM versus other media, low […]
By Ken Altena, Partner, Billboard Loans LLC. I track the Federal Reserve Senior Loan Officer Survey on Bank Lending Practices to determine if credit is tight or loose. Banks have been tightening their lending standards for small firms (revenue less than $50 million) for four consecutive quarters due to recession […]
Private equity funds and family offices remain interested in out of home. Billboard Insider gets a steady stream of phone calls from investors looking to enter out of home. Private equity investors like out of home’s barriers to entry, low technology risk, digital billboard upside as well as the fact […]
This slide from the recent Solomon Partners Media and Entertainment Summit Presentation caught Billboard Insider’s eye. It shows that public out of home companies are trading at a 9-14 times current cashflow (2022 EBIDTA). Billboard Insider’s take: Lamar has the highest valuation multiple because it has the longest weighted […]
Digital billboard manufacturer Daktronics stock rose 8% yesterday to close at $4.01. The stock has recovered any losses which occurred after the December going concern announcement and is now back to where it was last August. Billboard Insider’s take: Daktronics stock has more than recovered from any losses […]
Daktronics Reaches Agreement to Extend Near-Term Credit Facility Maturity Jan. 25, 2023 9:04 AM ET Daktronics, Inc. (DAKT) GlobeNewswire BROOKINGS, S.D., Jan. 25, 2023 (GLOBE NEWSWIRE) — Daktronics, Inc. (DAKT) today announced it has entered into an amendment to its credit agreement with its current lender, U. S. Bank National […]
Clear Channel stock is up 28% since Ares Management disclosed a 7% ownership position in the company on January 18, 2023. Ares Management is a publicly-traded investment fund which was formed in 1997 to make alternative investments. It has $341 billion in assets under management. Billboard Insider’s take: Ares is […]
By Ken Altena, Partner, Billboard Loans, LLC. Did you know that in 1977 a bank almost put Lamar Advertising out of business? Here’s Keven Reilly Sr. quoted in Signs of Opportunity: How Lamar Advertising grew into the biggest billboard business in America. In the spring of 1977…I received an emergency […]
