Welcome to our dedicated page for OUTFRONT Media news (Ticker: OUT), a resource for investors and traders seeking the latest updates and insights on OUTFRONT Media stock.
OUTFRONT Media Inc. (NYSE: OUT) is a prominent real estate investment trust specialized in the ownership of advertising space across a vast portfolio of billboards and transit displays. The company generates revenue by allowing other companies to advertise on its properties and structures under short-term contracts, making it a crucial player in the out-of-home (OOH) advertising industry.
OUTFRONT Media boasts the industry's most extensive and desirable landmark locations, featuring prime spots in high-traffic areas, retail districts, transit hubs, and iconic destinations including Times Square and the Sunset Strip. It operates over 400,000 displays nationwide, with a significant digital billboard network that is continuously expanding.
The company’s operations are primarily segmented into the United States and International units, although the majority of its revenue is derived from the U.S. market. Notably, about half of the U.S. revenue comes from New York City and Los Angeles. OUTFRONT Media's clientele spans diverse industries such as retail, television, healthcare, and entertainment.
OUTFRONT Media places a strong emphasis on customer-centric operations, striving to make the planning, buying, and execution of advertising campaigns as seamless as possible. The company is renowned for its exceptional customer service and commitment to exceeding client expectations. It is also at the forefront of innovation, leveraging cutting-edge technologies to create new markets, formats, and opportunities. This includes integrating digital networks with social and mobile platforms to enhance advertising efficacy.
Recently, OUTFRONT Media made significant strides with the expansion of its programmatic capabilities in transit advertising, especially within New York City's MTA system. This will enable advertisers to reach millions of commuters with targeted messaging through a network of digital signs.
In terms of financial performance, OUTFRONT Media continues to report steady revenue growth. In the second quarter of 2023, the company reported revenues of $468.8 million, a 4.1% increase from the prior year. However, challenges such as increasing interest expenses and impairment charges related to the MTA asset group have impacted overall profitability.
The strategic sale of its Canadian business to Bell Media, completed in the third quarter of 2023, has provided additional financial flexibility. OUTFRONT Media remains committed to enhancing shareholder value through regular dividends, with significant payouts reported across recent quarters.
Through continuous innovation and strategic partnerships, OUTFRONT Media is set to drive the out-of-home advertising industry forward, ensuring it remains a key channel for brands looking to connect with audiences on-the-go.
OUTFRONT Media reported Q3 2024 results with revenues of $451.9 million, representing a slight decrease of 0.6% year-over-year. The company's U.S. Media segment showed strong performance with 5.3% revenue growth. Net income attributable to OUTFRONT Media increased 103.5% to $34.6 million, with earnings per share of $0.19. The company announced a special dividend of $0.75 per share, payable December 31, 2024. Billboard revenues decreased 0.8% to $360.6 million, while transit and other revenues slightly increased by 0.1% to $91.3 million. The company's Adjusted OIBDA reached $117.1 million, showing a modest increase of 0.2%.
OUTFRONT Media (NYSE: OUT) has declared a special dividend of $0.75 per share on its common stock, payable on December 31, 2024, to stockholders of record as of November 15, 2024. The dividend will be distributed as $0.30 per share ($49.8 million) in cash and $0.45 per share ($74.7 million) in common stock. Shareholders can elect to receive their dividend entirely in cash or stock, subject to the total cash distribution limit. A reverse stock split is planned for January 2025 to offset the dilutive impact of the stock portion.
OUTFRONT Media (NYSE: OUT) has rescheduled its 2024 third quarter financial results announcement. The company will now release its results for the quarter ended September 30, 2024, before market opens on Tuesday, November 12, 2024. A conference call to discuss the results will be held the same day at 8:30 a.m. Eastern Time. Investors can access the call using 833-470-1428 (U.S.) or 404-975-4839 (International) with passcode 482452. Both live and replay versions of the call will be available on the company's website.
OUTFRONT Media Inc. (NYSE: OUT) has announced its plans to report financial results for the third quarter of 2024, which ended on September 30, 2024. The company will release its earnings report after the market closes on Tuesday, November 5, 2024. Following the release, OUTFRONT Media will host a conference call at 4:30 p.m. Eastern Time on the same day to discuss the results.
Investors and interested parties can access the earnings announcement in the Investor Relations section of OUTFRONT Media's website, www.outfront.com. For those wishing to participate in the conference call, the dial-in numbers are 833-470-1428 for U.S. callers and 404-975-4839 for international callers, with the passcode 482452. Additionally, live and replay versions of the conference call will be available via webcast on the company's website.
OUTFRONT Media (NYSE: OUT) has partnered with MaleRoom Founder Mindie Kaplan and Imerman Angels to launch the Million Mammogram Challenge for Breast Cancer Awareness Month. The campaign, starting October 1, 2024, aims to change the narrative around early detection and encourage women to schedule and share their mammogram dates.
The initiative features a nationwide OOH campaign, including billboards in major cities and New York's MTA transit system. The creative, designed by OUTFRONT Studios, showcases Kaplan with the headline "Cancer Isn't the Star of My Story." The campaign will be amplified through social media channels and supported by events, including a Times Square kickoff and an industry panel discussion at Advertising Week in New York.
Additional support includes a special episode of Kaplan's "MaleRoom" podcast and a short-form documentary in development. The campaign aims to normalize discussions around breast cancer surgery and dating, creating awareness and empowering women to embrace their transformed bodies.
OUTFRONT Media (NYSE:OUT) has appointed Scott Felenstein as Senior Vice President of Brand Partnerships. With over 30 years of experience in advertising, digital media, and sales management, Felenstein joins from National CineMedia (NCM), where he was President of Sales, Marketing & Partnerships. In his new role, he will lead OUTFRONT's brand partnership strategy, focusing on expanding collaborations, driving growth across digital out of home (DOOH) platforms, and strengthening client relationships.
Felenstein's career includes 17 years at Discovery Communications, Inc., where he served as Executive Vice President of National Advertising Sales. He has also held positions at Excite@Home, CBS Sports, and agencies Ogilvy and Mather and Bozell. Clive Punter, Chief Revenue Officer of OUTFRONT Media, praised Felenstein's leadership and industry understanding, stating his experience will be pivotal in advancing the company's Brand Partnerships.
Women's Wear Daily (WWD) has launched a high-impact campaign for National Hispanic Heritage Month in partnership with OUTFRONT Media (OUT). The month-long initiative showcases 10 influential Hispanic fashion designers, aligning with the 2024 theme 'Pioneers of Change: Shaping the Future Together'.
The campaign features prominent outdoor media displays across the United States, highlighting the talent and creativity of Hispanic designers. WWD's special Digital Daily issue introduces the selected designers, who represent innovation and leadership in the fashion industry.
This collaboration aims to celebrate diversity, inspire future generations, and amplify the voices of Hispanic creatives who are making significant contributions to the fashion world and their communities.
OUTFRONT Media Inc. (NYSE: OUT) has announced that its Chairman and CEO, Jeremy Male, will be presenting at Citi's 2024 Global TMT Conference. The presentation is scheduled for Thursday, September 5, 2024, at 4:40 p.m. Eastern Time.
Investors and interested parties can access a live audio webcast of the presentation through the investor relations section of OUTFRONT Media's official website at www.outfront.com. For those unable to attend the live event, a replay of the audio webcast will also be made available on the same platform.
This participation in a major industry conference suggests OUTFRONT Media's commitment to engaging with investors and sharing insights about the company's performance and strategy in the out-of-home advertising sector.
OUTFRONT Media Inc. (NYSE: OUT) has announced that Matthew Siegel, Executive Vice President and Chief Financial Officer, will be presenting at the Oppenheimer 27th Annual Technology, Internet & Communications Conference. The presentation is scheduled for Tuesday, August 13, 2024, at 3:45 p.m. Eastern Time.
Investors and interested parties can access a live audio webcast of the presentation through the investor relations section of OUTFRONT Media's official website at www.outfront.com. Additionally, a replay of the audio webcast will be made available on the same platform for those unable to attend the live event.
OUTFRONT Media Inc. (NYSE: OUT) reported Q2 2024 results with revenues of $477.3 million, up 1.8% year-over-year. The company's U.S. Media segment showed solid growth, with revenue up 4% and Adjusted OIBDA up 9.7%. Net income attributable to OUTFRONT Media Inc. was $176.8 million, or $1.01 per share. The company completed the sale of its Canadian business in June for C$410.0 million in cash.
Key financial highlights include:
- Operating income of $229.1 million
- Adjusted OIBDA of $126.0 million
- AFFO attributable to OUTFRONT Media Inc. of $84.8 million
- Quarterly dividend of $0.30 per share, payable September 27, 2024
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