NEW YORK, July 15, 2025 /PRNewswire/ -- OUTFRONT Media Inc. (NYSE: OUT) announced today that it will report results for the fiscal quarter ended June 30, 2025 after the market closes on Tuesday, August 5, 2025. The earnings announcement will be available in the Investor Relations section of the Company's website, www.outfront.com.The Company will host a conference call to discuss the results on Tuesday, August 5, 2025 at 4:30 p.m. Eastern Time. The conference call number is 833-470-1428 (U.S. callers) and 4 ...

Financial Performance - Total reported revenue increased by 100% year-over-year, reaching $3384 million in Q1 2019 compared to $3099 million in Q1 2018[5, 7] - US Media revenue increased by 92% year-over-year, from $2263 million in Q1 2018 to $2362 million in Q1 2019[10] - Billboard revenue in US Media increased by 44% year-over-year, from $2263 million to $2362 million[10] - Transit & Other revenue in US Media increased by 222% year-over-year, from $836 million to $1022 million[10] - Adjusted OIBDA increased by 69% year-over-year[5] - AFFO increased by 29% year-over-year[5] Revenue Breakdown - Local revenue increased by 123% year-over-year, reaching $2025 million in Q1 2019[13] - National revenue increased by 49% year-over-year, reaching $1359 million in Q1 2019[13] - Digital revenue accounted for 171% of total revenue in Q1 2019, amounting to $636 million[54] Expenses and Profitability - Adjusted OIBDA margin was 280% in Q1 2019[66] - Billboard lease expenses increased by 69% year-over-year, from $63 million to $65 million[26]

Financial Performance - Total reported revenue increased by 145% year-over-year, reaching $4196 million in Q2 2019 compared to $3672 million in Q2 2018[9] - Adjusted OIBDA increased by 147%[7] - AFFO increased by 247%[7] Revenue Breakdown - Billboard revenue increased by 86% year-over-year[12] - Transit & Other revenue increased by 285% year-over-year[12] - Local revenue increased by 98% year-over-year[15] - National revenue increased by 202% year-over-year[15] Digital Performance - Digital revenue increased by 242% year-over-year[57], reaching $662 million in Q2 2019 compared to $533 million in Q2 2018[57] - Static revenue increased by 102% year-over-year[18] Capital Allocation and Liquidity - The company has $100 million in unrestricted cash and $430 million available from a revolving credit facility as of June 30, 2019[47] - Total debt outstanding (face value) is $2820 million, resulting in a net leverage ratio of 46x[47] Non-GAAP Financial Measures - The report includes non-GAAP financial measures such as organic revenues, Adjusted OIBDA, and AFFO to supplement GAAP financial measures[4]

U S Media Performance - U S Media reported revenue increased by 11 7% [8] - U S Media Adj OIBDA increased by 8 5% [8] - U S Media AFFO increased by 7 2% [8] - Total U S Media revenue increased from $379 7 million in 3Q18 to $422 7 million in 3Q19, an increase of 11 7% [10] - Billboard revenue increased by 7 9% from $271 3 million in 3Q18 to $292 8 million in 3Q19 [14] - Transit & Other revenue increased by 19 8% from $108 4 million in 3Q18 to $129 9 million in 3Q19 [14] - Local revenue increased by 12 2% from $204 2 million in 3Q18 to $229 1 million in 3Q19 [16] - National revenue increased by 10 4% from $175 5 million in 3Q18 to $193 6 million in 3Q19 [16] Digital Revenue - Digital revenue mix increased from 18% to 20% year-over-year [19] - Billboard digital revenue increased by 20 2% year-over-year [25] - Transit & Other digital revenue increased by 17 6% year-over-year [25]

Financial Performance - Total revenue increased by 79% year-over-year from $4524 million in 4Q18 to $4881 million in 4Q19[11] - US Media revenue increased by 93% year-over-year from $4100 million in 4Q18 to $4480 million in 4Q19[14] - Adjusted OIBDA increased by 55% year-over-year from $1438 million in 4Q18 to $1517 million in 4Q19[52] - AFFO increased by 82% year-over-year from $980 million in 4Q18 to $1060 million in 4Q19[62] Revenue Breakdown - Billboard revenue in US Media increased by 72% year-over-year[14] - Transit & Other revenue in US Media increased by 138% year-over-year[14] - Local revenue in US Media increased by 109% year-over-year[18] - National revenue in US Media increased by 73% year-over-year[18] - Digital revenue from billboards increased by 1020% year-over-year[32] Digital Initiatives - Digital billboard revenue reached $832 million in 4Q19[32] - Digital transit and other revenue reached $301 million in 4Q19[96] - The company deployed 837 new digital station displays in 4Q19, bringing the total to 4505[82] Capital Expenditures - Total capital expenditures increased from $202 million in 4Q18 to $245 million in 4Q19[58] - Maintenance capital expenditures decreased from $50 million to $31 million[58] - Growth capital expenditures increased from $152 million to $214 million[58]

Core Insights - OUTFRONT Media (OUT) shares have increased by 11.2% over the past three months, significantly outperforming the industry's growth of 1.2% [1] - The company operates a diversified portfolio of advertising sites across key U.S. markets, which helps mitigate revenue volatility [3] Business Strategy - OUTFRONT Media is transitioning from traditional static billboard advertising to digital displays, which is expected to enhance digital revenue growth [2][4] - The company is making strategic investments in its digital billboard portfolio and transit assets, aiming to expand advertising relationships and boost revenues [4][8] - In Q1 2025, OUTFRONT Media acquired assets worth approximately $5.7 million to enhance its portfolio quality and long-term growth potential [5][8] Industry Trends - Out-of-home (OOH) advertising is experiencing rapid growth and increasing its market share compared to other media forms, driven by lower advertising costs and technological advancements [6] - The fragmentation of other advertising media is facilitating a shift towards outdoor advertising, benefiting companies like OUTFRONT Media [6]

Core Insights - Allegion US has launched the Outdoor Defense option for Von Duprin exit devices, marking the first product designed specifically for outdoor conditions, enhancing reliability and functionality [1][2] Product Features - The Outdoor Defense option enhances the durability and performance of the 98/99 Series exit devices, providing protection against moisture, temperature variations, and corrosion [2] - This option is available for both mechanical and electronic components, including popular features like latch retraction, alarmed exits, delayed/controlled egress, and monitoring [3][4] Market Positioning - The introduction of the Outdoor Defense option sets a new standard in exterior security solutions, reflecting Allegion's commitment to engineering excellence and customer satisfaction [4] - The product is designed for various outdoor applications such as courtyards, rooftops, and perimeter security, ensuring safety without compromise [4] Company Overview - Allegion designs and manufactures innovative security and access solutions, with a strong portfolio of brands including Von Duprin, Schlage, and others, catering to both residential and commercial markets [5]

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Outfront Media (OUT) FY Conference Summary Company Overview - **Company**: Outfront Media - **Event**: FY Conference held on May 14, 2025 - **Key Speakers**: Interim CEO Nick Bryan, EVP and CFO Matt Siegel Core Industry Insights - **Industry**: Out of Home (OOH) Advertising - **Market Position**: Outfront Media is positioned as a leader in the OOH advertising space, focusing on enhancing its value proposition to marketers and improving operational efficiencies. Key Points and Arguments Leadership and Experience - Nick Bryan has over 35 years of experience in the advertising agency sector, emphasizing the value of OOH advertising in brand building and growth [4][6][7]. Strategic Imperatives 1. **Sales Strategy and Culture**: Focus on changing the sales strategy and organizational culture to align with market demands [6][7]. 2. **Technology and Automation**: Emphasis on improving systems and technology for better automation and process efficiency [7]. 3. **Attracting Non-OOH Advertisers**: Targeting large multinational brands that currently underutilize OOH advertising [7][27]. 4. **Operational Efficiency**: Aiming for high operational efficiency across all initiatives [7]. Marketing and Measurement Challenges - OOH advertising is perceived as undervalued and poorly marketed, leading to a decline in its share of total media spend [4][9]. - The need for improved measurement metrics, including reach and frequency, to enhance the effectiveness of OOH advertising [9][13][16]. - The industry must focus on providing clear Return on Advertising Spend (ROAS) and incrementality metrics to attract sophisticated marketers [9][16]. Market Trends and Performance - Q1 2025 saw a 4% increase in national advertising but a 3% decline in local advertising [35]. - The company is optimistic about Q2 trends, with 90% of the quarter booked and 70-75% visibility for the year [37][40]. - The West region, particularly LA, faces challenges but shows potential for recovery with upcoming entertainment events [45]. Financial Strategy and Outlook - Outfront Media is focusing on structural improvements to enhance profitability and operational agility [34]. - The exit from low-margin contracts in New York and Los Angeles is part of a strategy to improve EBITDA margins [46][47]. - Digital conversions are targeted at 100-150 units per year, with a consistent internal rate of return (IRR) of around 25% [62][64]. Future Growth and M&A Strategy - The focus for 2025 is on transformation and operational excellence, with modest M&A opportunities considered for future growth [67][68]. - Potential areas for M&A include technology, systems, and partnerships in the experiential space [68]. Additional Important Insights - The company recognizes the need to integrate OOH advertising into the broader marketing mix, emphasizing its role in brand building and consumer engagement [22][33]. - There is a significant opportunity in the retail sector, as retailers increasingly seek to become media owners [28][30]. - The company is aware of macroeconomic uncertainties but remains confident in its operational resilience and market position [41][43]. This summary encapsulates the key discussions and insights from the Outfront Media FY Conference, highlighting the company's strategic focus, market challenges, and future growth opportunities.

PART I [Item 1. Financial Statements (Unaudited)](index=3&type=section&id=Item%201.%20Financial%20Statements%20(Unaudited)) This section presents OUTFRONT Media Inc.'s unaudited consolidated financial statements for Q1 2025 and 2024, including notes and revisions for noncontrolling interests [Consolidated Statements of Financial Position](index=3&type=section&id=Consolidated%20Statements%20of%20Financial%20Position) Total assets decreased slightly to **$5.13 billion** as of March 31, 2025, with stable liabilities and declining equity due to distributions Consolidated Balance Sheet Highlights (in millions) | Account | March 31, 2025 | December 31, 2024 | | :--- | :--- | :--- | | Cash and cash equivalents | $30.5 | $46.9 | | Total current assets | $321.3 | $385.8 | | Goodwill | $2,006.4 | $2,006.4 | | Total assets | $5,132.3 | $5,215.2 | | Short-term debt | $50.0 | $10.0 | | Total current liabilities | $529.8 | $520.8 | | Long-term debt, net | $2,483.7 | $2,482.5 | | Total liabilities | $4,426.6 | $4,431.2 | | Total stockholders' equity | $566.9 | $649.0 | [Consolidated Statements of Operations](index=4&type=section&id=Consolidated%20Statements%20of%20Operations) Q1 2025 revenues decreased to **$390.7 million** due to the Canadian business sale, while net loss improved to **$20.6 million** due to no impairment charges Q1 2025 vs Q1 2024 Performance (in millions, except per share data) | Metric | Q1 2025 | Q1 2024 | | :--- | :--- | :--- | | Revenues | $390.7 | $408.5 | | Operating Income | $13.9 | $14.0 | | Impairment Charges | $0.0 | $9.1 | | Interest Expense, net | ($36.0) | ($41.4) | | Net Loss Attributable to OUTFRONT | ($20.6) | ($27.2) | | Diluted EPS | ($0.14) | ($0.18) | [Consolidated Statements of Cash Flows](index=8&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) Net cash from operations increased to **$33.6 million** in Q1 2025, while investing and financing activities used cash, resulting in a **$16.4 million** decrease in cash Cash Flow Summary (in millions) | Activity | Q1 2025 | Q1 2024 | | :--- | :--- | :--- | | Net cash flow provided by operating activities | $33.6 | $30.6 | | Net cash flow used for investing activities | ($24.7) | ($19.0) | | Net cash flow used for financing activities | ($25.3) | ($4.9) | | **Net (decrease) increase in cash** | **($16.4)** | **$6.4** | | Cash and cash equivalents at end of period | $30.5 | $42.4 | - The increase in cash used for financing activities was driven by higher net borrowings under short-term debt facilities in the prior year period (**$55.0 million** in Q1 2024 vs **$40.0 million** in Q1 2025)[19](index=19&type=chunk)[223](index=223&type=chunk) [Notes to Consolidated Financial Statements](index=10&type=section&id=Notes%20to%20Consolidated%20Financial%20Statements) Notes detail the company's REIT structure, Canadian business sale, debt, revenue recognition, segment performance, MTA agreement, and a revision for noncontrolling interests - The company operates as a REIT with two reportable segments: Billboard and Transit, and its former Canadian operations were sold on June 7, 2024[24](index=24&type=chunk)[25](index=25&type=chunk) - In Q3 2024, an error in accounting for redeemable noncontrolling interests led to a revision of previously issued financial information, which was not material to prior periods but would have been to the current period[28](index=28&type=chunk)[110](index=110&type=chunk) - In Q1 2024, the company recorded a **$9.1 million** impairment charge related to its New York Metropolitan Transportation Authority (MTA) asset group due to negative cash flow forecasts, with no impairment recorded in Q1 2025[38](index=38&type=chunk)[95](index=95&type=chunk) - The company's long-term equity incentive program was updated in Q1 2025, adding a relative total shareholder return (TSR) metric and removing adjusted funds from operations for performance-based awards[77](index=77&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=28&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses Q1 2025 financial results, noting a **4% revenue decrease** to **$390.7 million** due to divestiture, flat organic revenues, and a **3% Adjusted OIBDA decline** to **$64.2 million** Key Performance Indicators (in millions) | Indicator | Q1 2025 | Q1 2024 | % Change | | :--- | :--- | :--- | :--- | | Revenues | $390.7 | $408.5 | (4)% | | Organic Revenues | $390.7 | $389.9 | 0% | | Adjusted OIBDA | $64.2 | $66.5 | (3)% | | Net Loss | ($20.6) | ($27.2) | (24)% | | AFFO | $23.9 | $23.2 | 3% | - The sale of the Canadian business on June 7, 2024, is a primary driver of the difference between reported and organic revenue performance[123](index=123&type=chunk)[145](index=145&type=chunk) - Increasing the number of digital displays is a key element of the organic growth strategy, as digital billboards generate approximately **4-5 times more revenue** than comparable static displays[130](index=130&type=chunk) [Segment Results of Operations](index=37&type=section&id=MD%26A-Segment%20Results) Billboard Adjusted OIBDA rose **2% to $99.0 million**, Transit revenue grew **3% to $77.7 million** with an improved OIBDA loss, while the 'Other' segment declined due to divestiture Adjusted OIBDA by Segment (in millions) | Segment | Q1 2025 | Q1 2024 | | :--- | :--- | :--- | | Billboard | $99.0 | $97.1 | | Transit | ($14.2) | ($15.3) | | Other | $0.5 | $0.9 | | Corporate | ($21.1) | ($16.2) | | **Total Adjusted OIBDA** | **$64.2** | **$66.5** | - Billboard segment revenue was adversely impacted by lost billboards, particularly in New York and Los Angeles, but this was partially offset by an increase in average revenue per display (yield)[173](index=173&type=chunk) - Transit segment revenue increased primarily due to higher yield, partially offset by the impact of new and lost franchise contracts[178](index=178&type=chunk) [Liquidity and Capital Resources](index=42&type=section&id=MD%26A-Liquidity%20and%20Capital%20Resources) The company maintains **$2.53 billion** in total debt and a **$208.5 million** working capital deficit, with liquidity from cash and credit facilities, projecting **$85.0 million** in 2025 capital expenditures - The company was in compliance with its debt covenants as of March 31, 2025, with a Consolidated Total Leverage Ratio of **4.8 to 1.0** (well below the **6.0 to 1.0** limit) and a Consolidated Net Secured Leverage Ratio of **1.6 to 1.0** (below the **4.5 to 1.0** limit)[60](index=60&type=chunk)[61](index=61&type=chunk)[211](index=211&type=chunk) - For the full year 2025, capital expenditures are projected to be approximately **$85.0 million**, separate from the estimated **$35.0 million** in MTA equipment deployment costs[196](index=196&type=chunk)[222](index=222&type=chunk) - On May 8, 2025, the board approved a quarterly cash dividend of **$0.30 per share**[71](index=71&type=chunk)[199](index=199&type=chunk) [Item 3. Quantitative and Qualitative Disclosures About Market Risk](index=50&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company faces market risks from commodity prices, particularly electricity, and interest rates on its **$400.0 million** variable-rate Term Loan and AR Facility, while credit risk is limited - The company is exposed to interest rate risk on its variable-rate debt, including the **$400.0 million** Term Loan and the **$150.0 million** AR Facility[234](index=234&type=chunk)[237](index=237&type=chunk) - Commodity price risk is present in electricity costs, but the company mitigates this partially through fixed-rate purchase agreements, which covered **8.2%** of total utility costs in 2024[232](index=232&type=chunk)[233](index=233&type=chunk) [Item 4. Controls and Procedures](index=52&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that disclosure controls and procedures were effective as of March 31, 2025, with no material changes to internal control over financial reporting during the quarter - The Interim CEO and CFO concluded that disclosure controls and procedures were effective as of the end of the reporting period[241](index=241&type=chunk) - No changes in internal control over financial reporting occurred during the quarter that have materially affected, or are reasonably likely to materially affect, internal controls[242](index=242&type=chunk) PART II [Item 1. Legal Proceedings](index=53&type=section&id=Item%201.%20Legal%20Proceedings) The company is involved in various legal proceedings, none of which are expected to materially affect its financial position, results, or cash flows - In management's opinion, no current litigation is expected to have a material adverse effect on the company's results, financial position, or cash flows[246](index=246&type=chunk) [Item 1A. Risk Factors](index=53&type=section&id=Item%201A.%20Risk%20Factors) No material changes from the risk factors disclosed in the 2024 Annual Report on Form 10-K have been reported - No material changes from the risk factors disclosed in the 2024 Annual Report on Form 10-K have been reported[247](index=247&type=chunk) [Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](index=53&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) There were no unregistered sales of equity securities in the quarter - There were no unregistered sales of equity securities in the quarter[248](index=248&type=chunk) [Item 5. Other Information](index=53&type=section&id=Item%205.%20Other%20Information) An executive, Richard H. Sauer, adopted a Rule 10b5-1 trading plan on March 14, 2025, for the potential sale of up to 50,000 shares - An executive, Richard H. Sauer, adopted a Rule 10b5-1 trading plan on March 14, 2025, for the potential sale of up to **50,000 shares**[251](index=251&type=chunk) [Item 6. Exhibits](index=53&type=section&id=Item%206.%20Exhibits) This section references the Exhibit Index, listing all documents filed as part of the quarterly report, including certifications and equity award agreements