Overview

• U.S. out-of-home advertiser's Q1 revenue rose 10% yr/yr, beating analyst expectations

• Net income swung to profit from loss in prior-year period

• Growth driven by strong billboard and transit segment performance, higher digital revenues

Outlook

• OUTFRONT Media did not provide specific guidance or forecasts for future periods

Result Drivers

• BILLBOARD SEGMENT - Revenue growth driven by higher proceeds from condemnations and increased average revenue per display, including digital billboard revenues

• TRANSIT SEGMENT - Higher average revenue per display boosted transit revenues, partially offset by changes in franchise contracts

• COST MANAGEMENT - SG&A expenses increased due to higher compensation-related expenses, partially offset by lower credit card usage by customers

Company press release: ID:nPn9jlTcFa

Key Details

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