OUTFRONT Media 2025 Q3 Earnings Beats Expectations with 47.7% Net Income Growth

OUTFRONT Media (OUT) delivered Q3 2025 results exceeding expectations, with revenue rising 3.5% to $467.5 million and net income surging 47.7% year-over-year to $51.4 million. The company raised its full-year AFFO guidance to high single-digit growth, driven by 24% transit revenue growth and strategic cost controls.

Revenue

Total revenue increased to $467.5 million, with the Billboard segment contributing $352.8 million, Transit driving $112.4 million, and Other revenue at $2.3 million. The Transit segment’s 24% growth, led by New York MTA campaigns, offset a 2.2% decline in Billboard revenue due to contract exits.

Earnings/Net Income

EPS rose 45% to $0.29, with net income jumping to $51.4 million, reflecting strong operational efficiency and margin expansion. The earnings growth underscores the company’s successful cost management and digital transformation.

Post-Earnings Price Action Review

OUT’s stock surged 10.65% on the day of the earnings report, with a 13.96% weekly gain and 13.51% month-to-date rally. The positive reaction aligns with the raised guidance and robust transit performance.

CEO Commentary

CEO Nicolas Brien highlighted a 24% transit revenue increase, driven by a 37% New York MTA growth and strategic AWS partnership. He emphasized improved operating margins, noting a 170-basis-point increase in Billboard adjusted OIBDA margin to 39.5%. Brien expressed confidence in Q4 momentum, with transit growth expected to remain in the mid-teens.

Guidance

The company now anticipates 2025 consolidated AFFO growth in the high single digits, up from prior mid-single-digit expectations. Q4 revenue growth is projected to improve slightly, with transit leading at mid-teens growth.

Additional News

OUT declared a $0.30/share quarterly dividend, maintaining its yield of 6.82%. The company also announced a strategic partnership with AWS to enhance end-to-end media planning and measurement, positioning it to capitalize on digital and experiential advertising trends. These initiatives align with its focus on transit and digital revenue streams.