LAMR — what changed in the latest 10-Q
A section-by-section comparison of LAMR's newest periodic SEC filing (10-K/10-Q) against the prior same-form filing: paragraphs added and removed per section, with verbatim excerpts. Purely a deterministic text diff — no similarity scores, no directional read, not investment advice.
Comparing 10-Q · 2026-05-07 vs the prior 10-Q · 2025-11-06
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +19 | −71 | ~52 | 44 |
| Market risk (Item 3) | Text added/removed | 0 | 0 | ~3 | 1 |
| Controls & procedures | No paragraph-level changes | 0 | 0 | 0 | 3 |
| Risk factors | No material changes reported (points to the 10-K) | — | — | — | — |
Counts are paragraphs; added/removed means text added or removed vs the prior filing — no direction or judgement implied.
Not shown (absent or not faithfully extractable): Legal proceedings, Other information
Representative excerpts
Up to 5 excerpts of about 300 characters per section, quoted verbatim from the two SEC filings.
MD&A
Text added vs the prior filing · source: 10-Q · 2026-05-07
During the three months ended March 31, 2026, the Company completed multiple acquisitions for a total cash purchase price of approximately $58.6 million. See Uses of Cash – Acquisitions for more information. The Company’s business requires expenditures for maintenance and capitalized costs associate…
For the three months ended March 31, 2026, the Company recognized a gain on disposition of assets and investments of $12.6 million as compared to $69.8 million for the same period in 2025. The $57.2 million decrease is primarily related to the gain associated with the sale of Lamar's equity interest…
The decrease in operating income, as well as the increase in interest expense, resulted in a $47.9 million decrease in income before income tax expense. The effective tax rate for the three months ended March 31, 2026 was 3.8%, which differs from the federal statutory rate primarily due to our quali…
As a result of the above factors, the Company recognized net income for the three months ended March 31, 2026 of $101.8 million, as compared to net income of $139.2 million for the same period in 2025.
Because acquisitions occurring after December 31, 2024 have contributed to our net revenues results for the periods presented, we provide 2025 acquisition-adjusted net revenues, which adjusts our 2025 net revenues for the three months ended March 31, 2025 by adding to or subtracting from it the net …
Text removed vs the prior filing · source: 10-Q · 2025-11-06
During the nine months ended September 30, 2025, the Company completed multiple acquisitions for a total cash purchase price of approximately $133.9 million. See Uses of Cash – Acquisitions for more information. Additionally, on July 2, 2025, Lamar Advertising Limited Partnership ("Lamar LP"), the s…
The Company’s business requires expenditures for maintenance and capitalized costs associated with the construction of new billboard displays, the entrance into and renewal of logo sign and transit contracts, and the purchase of real estate and operating equipment. The following table presents a bre…
For the nine months ended September 30, 2025, the Company recognized a gain on disposition of assets and investments of $76.1 million primarily resulting from the sale of Lamar's equity interest in Vistar Media, Inc., as well as transactions related to the sale of real estate and billboard locations…
Equity in earnings of investee was $0.2 million and $2.1 million for the nine months ended September 30, 2025 and 2024, respectively.
The increase in operating income, as well as the decrease in interest expense, resulted in a $90.7 million increase in income before income tax expense (benefit). The effective tax rate for the nine months ended September 30, 2025 was 4.3%, which differs from the federal statutory rate primarily due…
How to read Risk Factors (Item 1A) in a 10-Q
A 10-Q risk-factor section usually takes one of three forms; this page classifies it as one of:
- Pointer — the filer states there have been no material changes and points back to the annual 10-K risk factors; there is no own risk text to compare this quarter.
- Partial update — the filer carves out specific updated risks ("except as set forth below"); the excerpts show exactly what is new this quarter.
- Restated in full — the quarter carries the complete risk-factor text. When the prior quarter was only a pointer there is no prior full text to diff against, so the page flags the section as restated instead.
This describes the filing structure only — it is never a judgement on whether risk went up or down.
Source: text-level diff of the two SEC EDGAR filings · deterministic (no AI-generated content) · for reference only · not investment advice