OUTFRONT Media Q1 revenue rises, beats estimates

OUTFRONT Media Inc.

OUTFRONT Media Inc.

OUT

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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

Metric

Beat/Miss

Actual

Consensus Estimate

Q1 Revenue

Beat

$429.60 mln

$420 mln (4 Analysts)

Q1 EPS

$0.11

Q1 Net Income

$19.10 mln

Q1 Adjusted FFO

$61 mln

$0.23 (1 Analyst)

Q1 FFO

$63.50 mln

Q1 Operating Income

$55.90 mln


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


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