latest-news-headlines Market Intelligence /marketintelligence/en/news-insights/latest-news-headlines/lamar-advertising-pulls-fy-20-guidance-over-coronavirus-concerns-57960473 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

In This List

Lamar Advertising pulls FY'20 guidance over coronavirus concerns

Paypal Well-Positioned To Gain Share In COVID-Related Digital Payments Shift

Online Video Households Poised To Overtake Multichannel In US Forecast

Possible Effects Of COVID-19 Crisis On Broadcast Networks

5G To Buoy Declining Smartphone Shipments Through 2024 Despite COVID-19 Effects


Lamar Advertising pulls FY'20 guidance over coronavirus concerns

Lamar Advertising Co. is withdrawing its full-year 2020 guidance and reviewing its dividend policy for the year due to the uncertainties brought about by the coronavirus pandemic.

The advertising real estate investment trust proactively borrowed $535 million on its $750 million revolving credit facility to boost liquidity and financial flexibility in March, giving the company about $490 million in available cash after the payment of its first-quarter dividend. It has $625 million outstanding and approximately $112 million available under the facility as of April 2.

The REIT has also reduced its spending on capital projects for 2020 to approximately $58 million from its prior estimate of $130 million, suspended its acquisition activity, implemented a hiring freeze, negotiated with billboard ground lessors about amending their agreements to lower future fixed-site lease and held discussions with airport and transit franchise partners on temporary relief from current and future annual contractual guarantees.

READ MORE: Sign up for our weekly coronavirus newsletter here, and read our latest coverage on the crisis here.