AG真人官方

Revenues of $460.2 million

Operating income of $56.2 million

Net income attributable to听OUTFRONT Media Inc. of $19.5 million

Adjusted OIBDA of $124.1 million

AFFO attributable to OUTFRONT Media Inc. of $85.3 million

Quarterly dividend of $0.30 per share, payable September 30, 2025

NEW YORK, Aug. 5, 2025 /PRNewswire/ --听OUTFRONT Media Inc. (NYSE: OUT) today reported results for the quarter ended June听30, 2025.

"We undertook a number of internal actions during the second quarter, restructuring our sales function and placing key leaders in positions to accelerate and drive future growth," said Nick听Brien, Interim Chief Executive Officer of OUTFRONT Media. "With the reorganization behind us, we are now poised to take greater advantage of out-of-home's power to influence decisions IRL and improve our share of advertisers' budgets."

Second Quarter 2025 Results

We currently manage our operations through two reportable operating segments 鈥� (1) Billboard and (2) Transit. On June 7, 2024, we sold all of our equity interests in Outdoor Systems Americas ULC and its subsidiaries (the "Transaction"), which hold all of the assets of our outdoor advertising business in Canada (the "Canadian Business"). Prior to its sale, the Canadian Business comprised our International operating segment, which did not meet the criteria to be a reportable segment, and accordingly, was included in Other.

The following reported results include the historical results of the Canadian Business through the date of sale.

Consolidated
Reported revenues of $460.2 million decreased $17.1 million, or 3.6%, for the second quarter of 2025 as compared to the same prior-year period. Organic revenues of $460.2 million decreased $0.8 million, or 0.2%.

Total operating expenses of $231.5 million decreased $8.3 million, or 3.5%, compared to the same prior-year period, due primarily to lost billboards, the impact of the Transaction and lower variable property lease expenses, partially offset by higher guaranteed minimum annual payments to the New York Metropolitan Transportation Authority (the "MTA") due to inflation.

Selling, General and Administrative expenses ("SG&A") of $110.6 million decreased $8.5 million, or 7.1%, compared to the same prior-year period, due primarily to the impact of the Transaction and lower compensation-related expenses, including severance and salaries, partially offset by the impact of market fluctuations on an unfunded equity-linked retirement plan offered by the Company to certain employees and higher professional fees, as a result of a management consulting project. We expect SG&A expenses to decline for the remainder of 2025 and the first half of 2026 compared to the prior-year periods. We will continue to evaluate methods to lower SG&A expense growth.

Adjusted OIBDA of $124.1 million decreased $1.9 million, or 1.5%, compared to the same prior-year period.

Segment Results

Billboard
Reported billboard segment revenues of $351.3 million decreased $8.9 million, or 2.5%, compared to the same prior-year period, driven by the impact of lost billboards in the period, partially offset by higher proceeds from condemnations and an increase in average revenue per display (yield), including the impact of programmatic platforms on digital billboard revenues. Organic billboard segment revenues of $351.3 million decreased $8.9 million, or 2.5%.

Operating expenses decreased $5.0 million, or 3.3%, due primarily to lost billboards and lower variable billboard property lease costs, partially offset by higher production costs and higher compensation-related expenses.

SG&A expenses decreased $2.3 million, or 3.3%, due primarily to lower credit card usage by customers.

Adjusted OIBDA of $134.4 million decreased $1.6 million, or 1.2%, compared to the same prior-year period.

Transit
Reported transit segment revenues of $106.3 million increased $5.6 million, or 5.6%, compared to the same prior-year period, due primarily to an increase in average revenue per display (yield), partially offset by the impact of new and lost transit franchise contracts in the period. Organic transit segment revenues of $106.3 million increased $5.6 million, or 5.6%.

Operating expenses increased $3.9 million, or 5.1%, due primarily to higher guaranteed minimum annual payments to the MTA due to inflation and higher variable franchise expenses.

SG&A expenses decreased $1.0 million, or 5.2%, due primarily to lower compensation-related expenses and lower professional fees.

Adjusted OIBDA increased $2.7 million, or 60.0%, compared to the same prior-year period.

Other
Reported revenues of $2.6 million decreased $13.8 million, or 84.1%, primarily driven by the impact of the Transaction, partially offset by an increase in third-party digital equipment sales. Organic revenues increased $2.5 million.

Operating expenses decreased $7.2 million, or 78.3%, due primarily to the impact of the Transaction, partially offset by higher costs related to third-party digital equipment sales.

SG&A expenses decreased $5.5 million, or 98.2%, driven primarily by the impact of the Transaction.

Adjusted OIBDA of $0.5 million decreased $1.1 million, or 68.8%,听compared to the same prior-year period.

Corporate
Corporate expenses, excluding restructuring charges and stock-based compensation, increased $1.9 million, or 11.8%, to $18.0 million, due primarily to the impact of market fluctuations on an unfunded equity-linked retirement plan offered by the Company to certain employees and higher professional fees, including fees related to a management consulting project, partially offset by lower compensation-related expenses.

Interest Expense
Net interest expense in the second quarter of 2025 was $36.5 million, including amortization of deferred financing costs of $1.5 million, as compared to $41.1 million, including amortization of deferred financing costs of $1.5 million, in the same prior-year period. The decrease was due primarily to a lower average debt balance and lower interest rates. The weighted average cost of debt was 5.4% as of June听30, 2025 and 5.6% as of June听30, 2024.

Income Taxes
The provision for income taxes decreased $10.9 million, or 98.2%,听in the second quarter of 2025听compared to the same prior-year period, due primarily to the impact of the Transaction. Cash paid for income taxes in the six months ended June 30, 2025 was $1.4 million.

Net Income Attributable to OUTFRONT Media Inc.
Net income attributable to OUTFRONT Media Inc. decreased $157.3 million, or 89.0%, in the second quarter of 2025 compared to the same prior-year period. Diluted weighted average shares outstanding were 168.0 million for the second quarter of 2025 compared to 170.5 million for the same prior-year period. Net income attributable to OUTFRONT Media Inc. per common share for diluted earnings per weighted average share was $0.10 in the second quarter of 2025 compared to $1.04 in the same prior-year period.

FFO
FFO attributable to OUTFRONT Media Inc. was $70.4 million in the second quarter of 2025, a decrease of $13.4 million, or 16.0%, from the same prior-year period, driven primarily by restructuring charges in 2025 and higher depreciation expense, partially offset by lower interest expense and the impact of impairment charges in 2024.

AFFO
AFFO attributable to OUTFRONT Media Inc. was $85.3 million听in the second quarter of 2025, an increase of $0.5 million, or 0.6%, from the same prior-year period, due primarily to lower interest expense and lower maintenance capital expenditures, partially offset by lower Adjusted OIBDA, lower non-cash effect of straight-line rent and lower other income.

Cash Flow & Capital Expenditures
Net cash flow provided by operating activities of $100.7 million听for the six months ended June听30, 2025, decreased $0.9 million, or 0.9%, compared to $101.6 million in the same prior-year period, primarily due to a larger use of cash related to accounts payable and accrued expenses, driven by higher incentive compensation payments made in 2025, the timing of receivables and the timing of tax payments related to the Transaction in 2024, partially offset by higher net income, as adjusted for non-cash items, and an increase in restructuring reserves to be paid out in future periods. Total capital expenditures increased $0.6 million, or 1.4%, to $42.9 million for the six months ended June听30, 2025, compared to the same prior-year period.

Dividends
In the six months ended June 30, 2025, we paid cash dividends of $105.3 million, including $100.9 million on our common stock and vested restricted share units granted to employees and $4.4 million on our Series A Convertible Perpetual Preferred Stock (the "Series A Preferred Stock"). We announced on August听5, 2025, that our board of directors has approved a quarterly cash dividend on our common stock of $0.30 per share payable on September听30, 2025, to stockholders of record at the close of business on September听5, 2025.

Balance Sheet and Liquidity
As of June听30, 2025, our liquidity position included unrestricted cash of $28.5 million and $494.7 million of availability under our $500.0 million revolving credit facility, net of $5.3 million of issued letters of credit against the letter of credit facility sublimit under the revolving credit facility, and $80.0 million of additional availability under our accounts receivable securitization facility. During the three months ended June听30, 2025, no shares of our common stock were sold under our at-the-market equity offering program, of which $232.5 million remains available. As of June听30, 2025, the maximum number of shares of our common stock that could be required to be issued on conversion of the outstanding shares of the Series A Preferred Stock was approximately 7.8 million shares. Total indebtedness as of June听30, 2025 was $2.6 billion, excluding $14.9 million of deferred financing costs, and includes a $400.0 million term loan, $450.0 million of senior secured notes, $1.7 billion of senior unsecured notes, and $70.0 million borrowings under our accounts receivable securitization facility.

Conference Call
We will host a conference call to discuss the results on August听5, 2025, at 4:30 p.m. Eastern Time. The conference call numbers are 833-470-1428 (U.S. callers) and 404-975-4839 (International callers) and the passcode for both is 217110. Live and replay versions of the conference call will be webcast in the Investor Relations section of our website, .

Supplemental Materials
In addition to this press release, we have provided a supplemental investor presentation which can be viewed on our website, .

About OUTFRONT Media Inc.听
OUTFRONT is one of the largest and most trusted out-of-home media companies in the U.S., helping brands connect with audiences in the moments and environments that matter most. As OUTFRONT evolves, it's defining a new era of in-real-life (IRL) marketing, turning public spaces into platforms for creativity, connection, and cultural relevance. With a nationwide footprint across billboards, digital displays, transit systems, and other out-of-home formats, OUTFRONT turns creative into powerful real-world experiences. Its in-house agency, OUTFRONT STUDIOS, and award-winning innovation team, XLabs, deliver standout storytelling, supported by advanced technology and data tools that can drive measurable impact.

Non-GAAP Financial Measures
In addition to the results prepared in accordance with generally accepted accounting principles in the United States ("GAAP") provided throughout this document, this document and the accompanying tables include non-GAAP financial measures as described below. We calculate organic revenues as reported revenues excluding revenues associated with the impact of the Transaction ("non-organic revenues"). We provide organic revenues to understand the underlying growth rate of revenue excluding the impact of non-organic revenue items. Our management believes organic revenues are useful to users of our financial data because it enables them to better understand the level of growth of our business period to period.听 We calculate and define "Adjusted OIBDA" as operating income (loss) before depreciation, amortization, net (gain) loss on dispositions, stock-based compensation, restructuring charges and impairment charges. We calculate Adjusted OIBDA margin by dividing Adjusted OIBDA by total revenues. Adjusted OIBDA and Adjusted OIBDA margin are among the primary measures we use for managing our business, evaluating our operating performance and planning and forecasting future periods, as each is an important indicator of our operational strength and business performance. Our management believes users of our financial data are best served if the information that is made available to them allows them to align their analysis and evaluation of our operating results along the same lines that our management uses in managing, planning and executing our business strategy. Our management also believes that the presentations of Adjusted OIBDA and Adjusted OIBDA margin, as supplemental measures, are useful in evaluating our business because eliminating certain non-comparable items highlight operational trends in our business that may not otherwise be apparent when relying solely on GAAP financial measures.听 It is management's opinion that these supplemental measures provide users of our financial data with an important perspective on our operating performance and also make it easier for users of our financial data to compare our results with other companies that have different financing and capital structures or tax rates. When used herein, references to "FFO" and "AFFO" mean "FFO attributable to OUTFRONT Media Inc." and "AFFO attributable to OUTFRONT Media Inc.," respectively. We calculate FFO in accordance with the definition established by the National Association of AG真人官方 Estate Investment Trusts ("NAREIT"). FFO reflects net income (loss) attributable to OUTFRONT Media Inc. adjusted to exclude gains and losses from the sale of real estate assets, impairment charges, depreciation and amortization of real estate assets, amortization of direct lease acquisition costs and the same adjustments for our equity-based investments and redeemable and non-redeemable noncontrolling interests, as well as the related income tax effect of adjustments, as applicable. We calculate AFFO as FFO adjusted to include cash paid for direct lease acquisition costs as such costs are generally amortized over a period ranging from four weeks to one year and therefore are incurred on a regular basis. AFFO also includes cash paid for maintenance capital expenditures since these are routine uses of cash that are necessary for our operations. In addition, AFFO excludes restructuring charges and losses on extinguishment of debt, as well as certain non-cash items, including non-real estate depreciation and amortization, impairment charges on non-real estate assets, stock-based compensation expense, accretion expense, the non-cash effect of straight-line rent, amortization of deferred financing costs and the same adjustments for our redeemable and non-redeemable noncontrolling interests, along with the non-cash portion of income taxes, and the related income tax effect of adjustments, as applicable. We use FFO and AFFO measures for managing our business and for planning and forecasting future periods, and each is an important indicator of our operational strength and business performance, especially compared to other real estate investment trusts ("REITs"). Our management believes users of our financial data are best served if the information that is made available to them allows them to align their analysis and evaluation of our operating results along the same lines that our management uses in managing, planning and executing our business strategy. Our management also believes that the presentations of FFO and AFFO, as supplemental measures, are useful in evaluating our business because adjusting results to reflect items that have more bearing on the operating performance of REITs highlight trends in our business that may not otherwise be apparent when relying solely on GAAP financial measures. It is management's opinion that these supplemental measures provide users of our financial data with an important perspective on our operating performance and also make it easier to compare our results to other companies in our industry, as well as to REITs. Since organic revenues, Adjusted OIBDA, Adjusted OIBDA margin, FFO and AFFO are not measures calculated in accordance with GAAP, they should not be considered in isolation of, or as a substitute for, revenues, operating income (loss) and net income (loss) attributable to OUTFRONT Media Inc., the most directly comparable GAAP financial measures, as indicators of operating performance. These measures, as we calculate them, may not be comparable to similarly titled measures employed by other companies. In addition, these measures do not necessarily represent funds available for discretionary use and are not necessarily a measure of our ability to fund our cash needs.

Please see Exhibits 4-6 of this release for a reconciliation of the above non-GAAP financial measures to the most directly comparable GAAP financial measures.

Cautionary Statement Regarding Forward-Looking Statements
We have made statements in this document that are forward-looking statements within the meaning of the federal securities laws, including the Private Securities Litigation Reform Act of 1995. You can identify forward-looking statements by the use of forward-looking terminology such as "believes," "expects," "could," "would," "may," "might," "will," "should," "seeks," "likely," "intends," "plans," "projects," "predicts," "estimates," "forecast" or "anticipates" or the negative of these words and phrases or similar words or phrases that are predictions of or indicate future events or trends and that do not relate solely to historical matters. You can also identify forward-looking statements by discussions of strategy, plans or intentions related to our capital resources, portfolio performance and results of operations. Forward-looking statements involve numerous risks and uncertainties and you should not rely on them as predictions of future events. Forward-looking statements depend on assumptions, data or methods that may be incorrect or imprecise and may not be able to be realized. We do not guarantee that the transactions and events described will happen as described (or that they will happen at all). The following factors, among others, could cause actual results and future events to differ materially from those set forth or contemplated in the forward-looking statements: declines in advertising and general economic conditions; the severity and duration of pandemics, and the impact on our business, financial condition and results of operations; competition; government regulation; our ability to operate our digital display platform; losses and costs resulting from recalls and product liability, warranty and intellectual property claims; our ability to obtain and renew key municipal contracts on favorable terms; taxes, fees and registration requirements; decreased government compensation for the removal of lawful billboards; content-based restrictions on outdoor advertising; seasonal variations; acquisitions and other strategic transactions that we may pursue could have a negative effect on our results of operations; dependence on our management team and other key employees; experiencing a cybersecurity incident; changes in regulations and consumer concerns regarding privacy, information security and data, or any failure or perceived failure to comply with these regulations or our internal policies; asset impairment charges for our long-lived assets and goodwill; environmental, health and safety laws and regulations; expectations relating to environmental, social and governance considerations; our substantial indebtedness; restrictions in the agreements governing our indebtedness; incurrence of additional debt; interest rate risk exposure from our variable-rate indebtedness; our ability to generate cash to service our indebtedness; cash available for distributions; hedging transactions; the ability of our board of directors to cause us to issue additional shares of stock without common stockholder approval; certain provisions of Maryland law may limit the ability of a third party to acquire control of us; our rights and the rights of our stockholders to take action against our directors and officers are limited; our failure to remain qualified to be taxed as a REIT; REIT distribution requirements; availability of external sources of capital; we may face other tax liabilities even if we remain qualified to be taxed as a REIT; complying with REIT requirements may cause us to liquidate investments or forgo otherwise attractive investments or business opportunities; our ability to contribute certain contracts to a taxable REIT subsidiary ("TRS"); our planned use of TRSs may cause us to fail to remain qualified to be taxed as a REIT; REIT ownership limits; complying with REIT requirements may limit our ability to hedge effectively; the ability of our board of directors to revoke our REIT election at any time without stockholder approval; the Internal Revenue Service may deem the gains from sales of our outdoor advertising assets to be subject to a 100% prohibited transaction tax; establishing operating partnerships as part of our REIT structure; completing the Company's restructuring and reduction in force plan (the "Plan") may be more difficult, costly, or time consuming for the Company and its management than expected and the anticipated benefits of the Plan, including but not limited to projected cost savings, may not be fully realized or realized at all; and other factors described in our filings with the Securities and Exchange Commission (the "SEC"), including but not limited to the section entitled "Risk Factors" in our Annual Report on Form 10-K for the year ended December 31, 2024, filed with the SEC on February听28, 2025. All forward-looking statements in this document apply as of the date of this document or as of the date they were made and, except as required by applicable law, we disclaim any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions or factors, of new information, data or methods, future events or other changes.

Revision of Previously Issued Financial Information

In the third quarter of 2024, we identified an error related to the accounting for noncontrolling interests in our consolidated joint ventures, which include buy/sell clauses. The error related to the appropriate classification of these noncontrolling interests as redeemable and recognition of these redeemable noncontrolling interests at the maximum redemption value for each period. The Company assessed the materiality of the error on its previously issued financial statements in accordance with the SEC's Staff Accounting Bulletin ("SAB") No. 99 and SAB No. 108 and concluded that the amount was not material, individually or in the aggregate, to any of its previously issued financial statements, but would have been material to certain of our financial statements in the current period. Accordingly, we have revised our previously issued financial information. All relevant prior period amounts affected by these revisions have been corrected in the applicable financial information included in the exhibits below. Any prior periods not presented herein may be revised in future filings to the extent necessary.

The impact of the revisions has been reflected throughout this document, including in the applicable financial information included in the exhibits below. There is no impact to net cash provided by operating activities, investing activities, or financing activities in our Consolidated Statements of Cash Flows, which is included in the exhibits below.

EXHIBITS

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NOTES TO EXHIBITS

PRIOR PERIOD PRESENTATION CONFORMS TO CURRENT REPORTING CLASSIFICATIONS.

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