OUTFRONT Media (OUT) Company Report

OUTFRONT Media (OUT) expects strong advertising momentum to continue into 2026, with the fourth quarter growth rate projected to be higher than the third quarter, and anticipates a high single-digit growth rate for Adjusted Funds From Operations (AFFO) in 2025, with similar or improved performance expected in 2026.
Digital revenue currently represents 35% of total revenue and is projected to reach approximately 40% by the end of 2026, driven by a sequential quarterly growth of about 1% and faster growth in programmatic advertising.
The company's transit business saw significant growth in Q3, with overall transit revenue up 24% and New York MTA revenue up 37%, with MTA growth expected to be in the high teens for Q4, contributing significantly to EBITDA despite a prior $500 million impairment related to the MTA contract.
OUTFRONT aims to reduce its current leverage of 4.7 times closer to 4 times to enhance financial flexibility, prioritizing its dividend obligation, modest tuck-in M&A, and organic de-leveraging, with the next debt maturity in summer 2027.
Cost management efforts include improving billboard margins to 39.5% through portfolio optimization and lease negotiations, and a 6% headcount reduction implemented in June.

2 days ago

Transcript

OUTFRONT Media Discusses Advertising Outlook, Digital Growth, and Financial Strategy

OUT

Guidance Update

Revenue Acceleration/Inflection

Debt Issuance

OUTFRONT Media expresses confidence in the advertising environment carrying into 2026, with Q4 growth rates expected to be higher than Q3 and 2026 visibility stronger than the previous year.
Digital revenue currently represents 35% of total revenue and is projected to reach approximately 40% by the end of 2026, growing at about 1% per quarter sequentially, with a long-term goal of 50% and beyond.
The company's transit business, particularly the New York MTA, showed strong performance with Q3 revenue up 24% and MTA revenue up 37%, and is expected to grow in the high teens in Q4.
Current leverage stands at 4.7 times, with a strategic goal to reduce it closer to four times to enhance financial flexibility; the next debt maturity is in summer 2027.
OUTFRONT Media anticipates AFFO growth in the high single digits for 2025, expecting at least that level of growth, if not better, in 2026.

2 days ago

Transcript

OUTFRONT Media Discusses 2026 Outlook, Digital Growth, and Leverage Targets

OUT

Guidance Update

Revenue Acceleration/Inflection

M&A

OUTFRONT Media's CFO, Matt Siegel, expressed confidence in the advertising environment carrying into 2026, with Q4 growth expected to be higher than Q3 and 2026 visibility stronger than the previous year.
Digital revenue, currently 35% of total, is projected to reach around 40% by the end of 2026, growing approximately 1% per quarter, with a long-term goal of 50% penetration.
The New York MTA transit business saw significant growth, up 37% in Q3, and is expected to grow in the high teens in Q4, with the contract running through 2030.
The company aims to reduce its leverage from 4.7x closer to 4x to enhance financial flexibility, and would consider M&A primarily for footprint expansion with a path to de-leveraging.
Adjusted Funds From Operations (AFFO) is expected to have a high single-digit growth rate in 2025 and is anticipated to maintain or improve this rate in 2026.

2 days ago

Transcript

OUTFRONT Media expands experiential marketing division and announces key partnerships

OUT

New Projects/Investments

Management Change

OUTFRONT Media Inc. is expanding its premium experiential division, elevating Patrick Cresson to vice president, asset development & events, and Chris Mallen to senior director, sports marketing & partnerships.
The company's strategy centers on live sports as a core experiential driver, aiming to connect clients with passionate audiences at major cultural events across the country.
OUTFRONT announced an exclusive partnership with Wasserman Live to provide branding, signage, custom fabrication, live event production, and experiential operations capabilities to its clients, including for the Super Bowl.
Major sporting events in 2025-26 where OUTFRONT is developing unique brand opportunities include Super Bowl LX on February 6 in Santa Clara, California, and the World Cup starting June 11, 2026, across multiple U.S. cities.

Nov 21, 2025, 2:04 PM

Press Release

Outfront (OUT) Discusses Strategic Reinvention and Growth Drivers

OUT

Revenue Acceleration/Inflection

New Projects/Investments

Management Change

Outfront (OUT) is repositioning out-of-home (OOH) as an "In-Real-Life" (IRL) medium, leveraging its authenticity in an AI-driven digital landscape, and is seeing a resurgence in enterprise advertiser spending, particularly in the CPG, pharma, and financial services sectors.
The company anticipates a significant tailwind from the 2026 FIFA World Cup, which will take place in many of its key DMAs.
Outfront's partnership with AWS aims to improve OOH measurement and integrate with agency planning systems, with substantial growth contributions expected in 2027.
Transit revenue experienced strong growth, with the New York MTA asset growing 37% in Q3 and guided to mid-teens growth in Q4, driven by new leadership and a focus on experiential campaigns.
Following significant organizational changes, Outfront is now focused on execution, optimizing its portfolio, and accelerating digital conversions, with M&A not being a current strategic priority.

Nov 18, 2025, 10:15 PM

Transcript

OUTFRONT Media Discusses Strategic Repositioning, Growth Initiatives, and 2026 Outlook

OUT

Revenue Acceleration/Inflection

New Projects/Investments

Management Change

OUTFRONT Media is strategically repositioning the out-of-home (OOH) medium as "real" and "authentic" in what it terms the "Web4 action economy," aiming to capitalize on digital fatigue and AI concerns. The company sees a significant opportunity to increase OOH's share of the US paid media market, which currently stands at less than 2.5% of a $400 billion market, by enhancing measurement and programmatic capabilities.
Key growth initiatives include a significant focus on reorganizing talent, systems, and processes, with structural changes implemented in July and a marketing function reorganization upcoming. OUTFRONT has partnered with AWS to integrate data and inventory into agency and client systems, anticipating a meaningful contribution to growth by 2027. The company is also prioritizing programmatic growth to increase its current share of less than 15% in the OOH industry.
The New York MTA asset demonstrated strong performance, growing 37% in the third quarter, driven by new leadership, a focus on "in-real-life experiences," and successful large campaigns. OUTFRONT expects these large campaigns to be a permanent feature and projects double-digit growth for transit in Q4.
Regarding capital allocation, the primary focus is on improving the core business, including the digitization of boards in major cities for significant returns, rather than M&A. The outlook for 2026 is characterized by cautious optimism, with tailwinds such as the FIFA World Cup and midterm elections.

Nov 18, 2025, 10:15 PM

Transcript

OUT Reports Q3 2025 Financial Results

OUT

Earnings

New Projects/Investments

OUT reported Consolidated Revenue of $468 million for Q3 2025, marking a 3.5% increase year-over-year.
Consolidated Net Income rose significantly by 48.3% year-over-year to $51 million, and Consolidated Adjusted OIBDA increased by 17.2% to $137 million.
Consolidated AFFO for the quarter was $100 million, representing a 24.1% year-over-year increase.
Transit Revenue grew by 23.7% to $112 million, while Billboard Revenue decreased by 2.2% to $353 million, primarily due to the non-renewal of the NY MTA and LA Billboard contracts.
Total capital expenditures for Q3 2025 amounted to $21.1 million, with $15.0 million allocated to growth initiatives.

Nov 6, 2025, 9:30 PM

Presentation

Outfront Media Reports Strong Q3 2025 Results and Raises Full-Year AFFO Guidance

OUT

Earnings

Guidance Update

Revenue Acceleration/Inflection

Outfront Media reported Q3 2025 consolidated revenues up 3.45%, driven by 24% growth in transit, while consolidated OIBDA increased 17% to $137 million.
AFFO for Q3 2025 rose 24% to $100 million, and the company raised its full-year AFFO guidance to the high single-digit range from a prior mid-single-digit expectation.
As of September 30th, the company's net leverage dropped to 4.7 times, falling within its four to five times target range, and it maintained a $0.30 cash dividend.
For Q4 2025, Outfront Media expects consolidated revenue growth in the low mid-single digits, with mid-teens growth in transit and low single-digit growth in billboard.
The company highlighted a strategic partnership with AWS to enhance inventory planning, buying, and measurement, and noted that billboard revenues were impacted by the previously announced exits of two large, marginally profitable billboard contracts in New York and Los Angeles.

Nov 6, 2025, 9:30 PM

Transcript

OUTFRONT Media Announces Third Quarter 2025 Results

OUT

Earnings

Dividends

Revenue Acceleration/Inflection

OUTFRONT Media Inc. reported revenues of $467.5 million and net income attributable to OUTFRONT Media Inc. of $51.3 million for the third quarter ended September 30, 2025, with diluted net income per common share at $0.29.
For Q3 2025, the company achieved Adjusted OIBDA of $137.2 million and AFFO attributable to OUTFRONT Media Inc. of $100.3 million.
The board of directors declared a quarterly cash dividend of $0.30 per share, payable on December 31, 2025, to shareholders of record on December 5, 2025.
CEO Nick Brien stated that the third quarter results exceeded expectations across the board, particularly transit revenues, and anticipates closing the year with momentum.

Nov 6, 2025, 9:16 PM

8-K

OUTFRONT Media Announces Strong Third Quarter 2025 Results

OUT

Earnings

Dividends

Revenue Acceleration/Inflection

OUTFRONT Media Inc. reported revenues of $467.5 million for the third quarter ended September 30, 2025, marking a 3.5% increase from the prior-year period.
Net income attributable to OUTFRONT Media Inc. for Q3 2025 grew 48.3% to $51.3 million, resulting in diluted earnings per share of $0.29.
Adjusted OIBDA increased 17.2% to $137.2 million, and AFFO attributable to OUTFRONT Media Inc. rose 24.1% to $100.3 million for the quarter ended September 30, 2025.
The company's board approved a quarterly cash dividend of $0.30 per share, payable on December 31, 2025.
CEO Nick Brien stated that third-quarter results exceeded expectations, particularly in transit revenues, and that the business strengthening has persisted into the fourth quarter.

Nov 6, 2025, 9:07 PM

Press Release

Earnings Transcripts

Quarterly earnings call transcripts for OUTFRONT Media.

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