Core Insights - Outfront Media reported revenue of $460.2 million for the quarter ended June 2025, reflecting a year-over-year decline of 3.6% and an EPS of $0.51 compared to $1.03 a year ago [1] - The revenue fell short of the Zacks Consensus Estimate of $461.97 million by -0.38%, while the EPS exceeded the consensus estimate of $0.46 by +10.37% [1] Revenue Breakdown - Organic revenues from Billboard were $351.3 million, below the average estimate of $358.07 million, representing a year-over-year decline of -2.5% [4] - Organic revenues from Transit were $106.3 million, surpassing the average estimate of $102.66 million, with a year-over-year increase of +5.6% [4] - Total organic revenues were $460.2 million, slightly below the five-analyst average estimate of $460.73 million, indicating a year-over-year change of -0.2% [4] - Organic revenues from Other segments were $2.6 million, exceeding the average estimate of $2.02 million, but showing a significant year-over-year decline of -84.2% [4] Earnings Performance - Net Earnings Per Share (Diluted) were reported at $0.10, lower than the average estimate of $0.17 [4] - Adjusted OIBDA for Transit was $7.2 million, exceeding the average estimate of $3.31 million [4] - Adjusted OIBDA for Billboard was $134.4 million, slightly below the average estimate of $137.54 million [4] - Adjusted OIBDA for Other segments was $0.5 million, above the average estimate of $0.35 million [4] - Adjusted OIBDA for Corporate was reported at -$18 million, compared to the average estimate of -$17.78 million [4] Stock Performance - Over the past month, shares of Outfront Media have returned +7.1%, outperforming the Zacks S&P 500 composite's +1% change [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating expected performance in line with the broader market in the near term [3]

Core Insights - Outfront Media reported quarterly funds from operations (FFO) of $0.51 per share, exceeding the Zacks Consensus Estimate of $0.46 per share, and showing an increase from $0.50 per share a year ago [1][2] - The company experienced an FFO surprise of +10.37% this quarter, having surpassed consensus FFO estimates three times over the last four quarters [2] - Revenues for the quarter were $460.2 million, which fell short of the Zacks Consensus Estimate by 0.38% and decreased from $477.3 million year-over-year [3] Financial Performance - The FFO for the current quarter was $0.51, compared to $0.50 in the same quarter last year [1] - The revenue of $460.2 million represents a decline of 3.1% from the previous year's revenue of $477.3 million [3] - The company has only topped consensus revenue estimates once in the last four quarters [3] Market Position - Outfront Media shares have declined approximately 1.2% since the beginning of the year, contrasting with the S&P 500's gain of 7.6% [4] - The current Zacks Rank for Outfront Media is 3 (Hold), indicating expected performance in line with the market in the near future [7] Future Outlook - The consensus FFO estimate for the upcoming quarter is $0.48, with projected revenues of $452.21 million, and for the current fiscal year, the estimate is $1.85 on $1.8 billion in revenues [8] - The outlook for the industry, particularly the REIT and Equity Trust - Other sector, is currently in the top 40% of Zacks industries, suggesting a favorable environment for performance [9]

Financial Data and Key Metrics Changes - Organic revenues were essentially flat, in line with previous guidance, while OIBDA was $124 million and AFFO was $85 million [12][19] - Billboard revenues decreased by 2.5%, primarily due to the exit of two large marginally profitable contracts in New York and LA [13][14] - Transit revenues grew by 5.6%, driven by a 17% increase in digital revenues [14][16] - Digital revenues represented over 34% of total organic revenues, with programmatic and digital direct automated sales up nearly 20% [16][18] Business Line Data and Key Metrics Changes - Billboard revenues were impacted by the exit of contracts, with traffic and other billboard revenues down 1.6% and digital billboard revenues down 4.5% [13][14] - Transit revenue growth was supported by mid-single-digit growth in the New York MTA, despite a strong performance in 2024 [14][18] - Commercial revenues increased by 1.4% year-on-year, while enterprise revenues declined by 4% [17] Market Data and Key Metrics Changes - The strongest revenue categories were legal, financial, service providers, and insurance, while weaker categories included entertainment, health and medical, restaurants, and alcohol [14] - The company noted a significant opportunity in engaging digital media buyers who have not yet embraced digital out-of-home advertising [16] Company Strategy and Development Direction - The company has undergone a significant internal reorganization to enhance revenue growth and redefine sales categories [6][9] - A redesigned brand solutions group has been established to drive demand from enterprise marketers across major industry verticals [7][12] - The focus is on operational excellence, reducing administrative burdens, and optimizing sales strategies [29][30] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the future, expecting revenue growth to accelerate in Q3, driven by transit growth and a low single-digit decline in billboard revenues [30][31] - The company is determined to address industry challenges such as complexity, measurement, and attribution to enhance its role in the marketing mix [32] Other Important Information - A restructuring charge of $19.8 million was incurred due to workforce reductions, with expected annualized expense savings of $18 million to $20 million [19][20] - The company maintained a $0.30 cash dividend payable on September 30 [28] Q&A Session Summary Question: Are you through the heaviest period of changes to the business? - Management indicated that while significant restructuring has occurred, ongoing efforts to modernize workflows and improve demand generation are still in progress [36][37] Question: Can you help unpack the weakness in the entertainment vertical? - Management noted that the absence of key studios supporting their slate contributed to the weaker performance, but they are optimistic about future growth in this sector [41] Question: What are the drivers behind the acceleration in transit? - Key performance improvements in New York, management focus, and incentives were highlighted as factors driving transit growth [44] Question: What is the anticipated impact from the MTA and LA contract exit? - The exit of these contracts is expected to be a headwind in Q3, but the company anticipates recovery in subsequent quarters [45] Question: Is the decline in static transit revenue structural? - Management acknowledged that the decline in static transit revenue is likely structural, as there is a growing preference for digital formats [49][50] Question: What is the potential for margin expansion in the back half of the year? - Management expects significant cost savings from restructuring, with potential margin improvements anticipated in 2025 [53][58] Question: Are there any cost levers left to pull if revenue remains soft? - Management confirmed that there are always cost levers available, but they are currently focused on the impact of recent changes [55][56] Question: Can you discuss regional variations in revenue growth expectations? - Management indicated that while there are no significant regional variations, California and New York remain the strongest markets [65][66]

Financial Data and Key Metrics Changes - Organic revenues were essentially flat, aligning with previous guidance, while OIBDA was $124 million and AFFO was $85 million [11][24][22] - A restructuring charge of $19.8 million was incurred due to the reduction of approximately 120 employees, with expected annualized expense savings of $18 million to $20 million [17][18] Business Line Data and Key Metrics Changes - Billboard revenues decreased by 2.5%, primarily due to the exit of two large marginally profitable contracts in New York and LA [12][16] - Transit revenues grew by 5.6%, driven by a 17% increase in digital revenues, despite a 2.9% decline in organic revenues [13][14] - Digital billboard revenues decreased by 4.5%, while overall digital revenue grew by 1.5%, representing over 34% of total organic revenues [14][15] Market Data and Key Metrics Changes - The strongest revenue categories were legal, financial, service providers, and insurance, while weaker categories included entertainment, health and medical, restaurants, and alcohol [13] - The New York MTA saw mid-single-digit growth despite a strong 20% growth in 2024 [13] Company Strategy and Development Direction - The company has undergone a significant internal reorganization, rebranding sales teams and centralizing operational functions to enhance efficiency and focus on client relationships [5][6][7] - A redesigned brand solutions group aims to drive demand from enterprise marketers across major industry verticals [6][10] - The company is focusing on digital out-of-home advertising as a growing opportunity, particularly targeting digital media buyers who have not yet engaged with this ecosystem [14][15] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the future, expecting revenue growth to accelerate in the third quarter, driven by double-digit growth in transit and low single-digit decline in billboard revenues [28][29] - The company acknowledges challenges in the entertainment sector but remains bullish about future performance based on committed deals [38] Other Important Information - The company maintained a $0.30 cash dividend payable on September 30 to shareholders [26] - Committed liquidity is over $600 million, with total net leverage at 4.8 times, within the target range [25] Q&A Session Summary Question: Are you through the heaviest period of changes to the business? - Management believes they have made significant progress in transformation but acknowledges that work continues in optimizing sales strategy and modernizing workflows [34][36] Question: Can you unpack the weakness in the entertainment vertical? - The decline was attributed to the absence of key studios supporting their slate, but management is optimistic about future performance in this sector [38] Question: What are the drivers behind the acceleration in transit? - Key performance improvements in New York, management focus, and incentives have contributed to the growth in transit revenues [42][43] Question: Is the decline in static transit revenue structural? - Management indicated that the decline is likely structural, as there is a shift towards digital formats [50] Question: What is the potential for margin expansion in the back half of the year? - Expected annualized savings from restructuring could lead to margin improvements, with half of the benefits anticipated in 2025 [53]

Core Insights - OUTFRONT is enhancing its sales leadership and organizational structure to better support clients through strategic thinking and creative solutions [1][6] - The company aims to deliver impactful in-real-life campaigns that resonate with audiences [1][6] Leadership Changes - Jim Norton has been appointed as EVP, Chief Revenue Officer, Enterprise, bringing over 25 years of experience in SaaS, media, and advertising [2] - Mark Bonanni has been promoted to EVP, Chief Revenue Officer, Commercial, focusing on partnerships with regional and local advertisers [3] - Brad Alperin joins as Head of Brand Solutions, tasked with developing integrated strategies for brand-specific solutions [4] - Marc Miller serves as SVP Enterprise Sales, collaborating with holding company agencies and out-of-home specialists [5] Strategic Vision - OUTFRONT's organizational update reflects a vision centered on creativity, data utilization, and human connection [6] - The company is positioned to be a modern partner for marketers in a complex media landscape, leveraging creative excellence and audience data [6][7] Company Overview - OUTFRONT is a leading out-of-home media company in the U.S., focusing on connecting brands with audiences in significant environments [7] - The company is redefining in-real-life marketing by transforming public spaces into platforms for creativity and cultural relevance [7]

Core Viewpoint - OUTFRONT Media Inc. is set to report its fiscal quarter results for the period ending June 30, 2025, on August 5, 2025, after market close [1] Group 1: Earnings Announcement - The earnings announcement will be accessible in the Investor Relations section of the company's website [1] - A conference call to discuss the results will take place on August 5, 2025, at 4:30 p.m. Eastern Time [2] - The conference call can be accessed via specific numbers for U.S. and international callers, with a designated passcode [2] Group 2: Company Overview - OUTFRONT Media Inc. utilizes technology, location, and creativity to connect brands with consumers through a diverse range of billboard and transit assets in the U.S. [3] - The company's technology platform aims to transform how advertisers engage with audiences on-the-go [3]

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]