Pre-earnings brief
Reports
Thu, Nov 5, 2026
Est. EPS
—
Est. revenue
—
Implied move
±1.9%
EPS beat rate
88%
Lamar Advertising Company (LAMR) is a leading outdoor advertising company that specializes in billboards and transit advertising. As part of the real estate sector, it plays a crucial role in how brands reach consumers in public spaces, especially as digital advertising trends evolve.
Last quarter
In Q2 2026, Lamar reported an EPS of $2.40, surpassing estimates by 8.84%. The stock reacted positively, gaining 1.15% the following day.
EPS beat streak
7Q
EPS beat rate
88%
Avg EPS surprise
+7.80%
Avg 1-day reaction
-1.47%
Overall, investors are cautiously optimistic about Lamar's upcoming earnings, given its strong track record of beating EPS estimates.
Bull case
If Lamar continues its trend of strong earnings surprises, it could indicate robust demand for outdoor advertising, leading to further stock gains.
Bear case
Conversely, if the company fails to meet expectations or shows signs of slowing growth, it could lead to a significant drop in stock price.
The print will turn on these.
Q1
What will be the EPS figure for Q3-2026?
Given Lamar's history of beating EPS estimates, this figure will be crucial in determining market sentiment and stock movement.
Q2
How is revenue growth trending in the current advertising landscape?
Understanding revenue growth will provide insights into the demand for Lamar's services and its competitive position in the market.
—
Est. EPS
$-0.50
Est. Rev
$257M
Impl. Move
±8.7%
Why consensus could be wrong
The Street may underestimate Lamar's ability to capitalize on the recovery in outdoor advertising, especially as brands shift budgets back to traditional media.
Supporting evidence
Lamar has consistently beaten EPS estimates, indicating stronger-than-expected demand.
The options market is pricing in a smaller move than historical averages, suggesting a potential mispricing of volatility.
Key risk
If revenue growth exceeds expectations, it could significantly alter the market's perception of Lamar's growth potential.
Pre-commit to what would confirm each case.
This quarter's performance will hinge on whether Lamar can maintain its strong earnings trajectory amid a changing advertising environment.
Bull confirmed if
An EPS of $2.50 or higher would confirm strong operational performance and demand.
Bear confirmed if
An EPS below $2.20 would raise concerns about growth and profitability.
What the market is pricing for the move.
Implied Move
±1.95%
Historical Avg
±4.1%
The options market is pricing in a relatively modest move for Lamar's stock following the earnings report.
Options are pricing ±1.9% while LAMR has averaged ±4.1% over the last 8 prints — setup is pricing cheap.
ATM IV
0.2%
30d HV
10.7%
Cross-company pattern from 30 similar setups.
Prior-quarter beat + options pricing cheap in Real Estate
Fade rate: 9 of 30 (30%)
This setup has occurred 30 times across Real Estate in the last 2 years. 21 of 30 (70%) held or extended their move within 5 days — this setup typically holds direction. The average absolute 1-day move is 1.7%, with a raw directional average of -0.0% (roughly flat historical bias).
Smart-money positioning from the most recent 13F filings.
Institutional
100.17%
of float
Insider
0.81%
of float
Holders
964
institutions
Top Holders· as of Jun 2026
Blackrock Inc.
9,614,182 sh · $1.4B
11.03%
-3.7%
Likely market behavior by outcome. Not investment advice.
Beat & raise
If Lamar beats expectations, history suggests a potential stock increase of around 1% to 7%, confirming the bullish outlook.
In line / cautious
If results are in line but management offers cautious commentary, the stock may react neutrally or slightly down.
Miss
A miss could lead to a decline of about 4.75%, reflecting investor disappointment and concerns about future growth.
House and Senate STOCK Act disclosures over the trailing 6 months.
Trades
5
0 buys·5 sells
Members
1
House only
Est. Notional
$61,005.00–$215,000.00
disclosed dollar ranges
Most Active Members
5 trades
The lines on the call that would change the story.
Vanguard Portfolio Management LLC
7,506,411 sh · $1.1B
8.62%
0.3%
Vanguard Capital Management LLC
3,927,671 sh · $562.6M
4.51%
0.8%
FMR, LLC
3,170,047 sh · $454.1M
3.64%
-16.7%
Geode Capital Management, LLC
2,807,453 sh · $402.1M
3.22%
10.8%
13F filings updated quarterly. Position deltas show change in shares vs. the prior quarter.
Net selling
Recent Transactions
Traded Aug 25, 2026 · disclosed Sep 10, 2026
$15,001.00–$50,000.00
Traded Aug 24, 2026 · disclosed Sep 10, 2026
$15,001.00–$50,000.00
Traded Aug 20, 2026 · disclosed Sep 10, 2026
$15,001.00–$50,000.00
Traded Aug 19, 2026 · disclosed Sep 10, 2026
$15,001.00–$50,000.00
Traded Jul 16, 2026 · disclosed Sep 4, 2026
$1,001.00–$15,000.00
Filed 30–45+ days after the trade. Treat as positional context, not a leading indicator. Amounts are SEC-mandated dollar ranges, not exact values.