Q3 2024 OUTFRONT Media Inc Earnings Call Transcript

Nov 12, 2024 / 01:30 PM GMT

Release Date Price: $18.78 (+1.55%)

Transcript 10-Q8-K

Key Points

Positve

Outfront Media Inc (OUT) reported a 5% revenue growth in its US media segment, driven by strong performance in billboard and transit sectors.
Adjusted OBIDA for the US media segment grew over 11%, indicating effective cost management and operational efficiency.
Digital revenue represented over 32% of total revenues, with digital billboard revenue up over 11%, showcasing successful digital transformation efforts.
The company completed its initial deployment commitments for digital displays in the New York MTA, enhancing its digital footprint.
Outfront Media Inc (OUT) announced a special dividend, reflecting strong financial health and commitment to returning value to shareholders.

Negative

The exit from a New York MTA billboard contract will create a revenue headwind for Q4 and into 2025.
Weakness in key markets like Los Angeles and New York affected overall performance, particularly in the national segment.
The company faced increased corporate expenses due to consulting fees and market fluctuations impacting an unfunded equity-linked retirement plan.
Storms in the Southeast caused operational disruptions, presenting a small revenue headwind.
The media and entertainment vertical did not rebound as strongly as expected, impacting national revenue growth.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

OUT.N - OUTFRONT Media Inc
Q3 2024 OUTFRONT Media Inc Earnings Call
Nov 12, 2024 / 01:30PM GMT

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Presentation
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Unidentified_1 [1]
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Hello, everyone and welcome to Outfront Media's third quarter, 2024 earnings call. My name is Lydia and I'll be your operator today.

After the prepared remarks, there'll be an opportunity for you to ask questions if you'd like to do so. You can ask a question by pressing star, followed by one on your telephone keypad. I'll now hand you over to Stefan Bison, Vice President of Investor Relations to begin. Please go ahead.

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Unidentified_2 [2]
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Good morning and thank you for joining our 2024 3rd quarter earnings call with me on the call today are Jeremy,

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