OUTFRONT Media Reports Fourth Quarter And Full Year 2024 Results

Financial Performance - Fourth quarter revenues were reported at $493.2 million, a decrease of$ 8.0 million or 1.6% compared to the same period in the previous year [5][17] - Operating income for the fourth quarter was $111.1 million, slightly up from$ 111.0 million in the prior year [2][48] - Net income attributable to OUTFRONT Media Inc. was $74.0 million, an increase of$ 13.6 million or 22.5% year-over-year, translating to $0.43 earnings per diluted share [32][34] - Adjusted OIBDA for the fourth quarter was$ 155.2 million, reflecting a 2.3% increase from the previous year [9][21] Segment Performance - Billboard segment revenues increased by $7.2 million or 2.0% to$ 374.6 million, driven by higher average revenue per display [6][22] - Transit segment revenues rose by $9.7 million or 9.1% to$ 116.5 million, primarily due to an increase in average revenue per display [7][24] - Total operating expenses decreased by $9.7 million or 3.9%, attributed to the impact of a recent transaction and lower variable property lease expenses [8][20] Yearly Overview - Full-year revenues reached$ 1,830.9 million, up $10.3 million or 0.6% compared to the previous year [17] - Full-year adjusted FFO was$ 307.5 million, an increase of $31.7 million or 11.5% year-over-year [34][21] - Total operating expenses for the year decreased by$ 14.1 million or 1.5% to $949.0 million [20] Cash Flow and Dividends - Net cash flow from operating activities for the year was$ 299.2 million, an increase of $45.0 million compared to the previous year [35] - The company paid cash dividends totaling$ 208.4 million in 2024, with a quarterly dividend of $0.30 per share announced for March 31, 2025 [36][36] Balance Sheet and Liquidity - As of December 31, 2024, the company had unrestricted cash of$ 46.9 million and $494.5 million available under its revolving credit facility [37] - Total indebtedness was reported at$ 2.5 billion, with a weighted average cost of debt of 5.4% [30][37]