What does OUTFRONT Media do and what are its main business segments?

What is OUTFRONT Media's gross profit margin?

What is OUTFRONT Media's latest dividend and current dividend yield?

What is the revenue and EPS growth rate for OUTFRONT Media year over year?

Did OUTFRONT Media beat or miss consensus estimates last quarter?

What guidance did OUTFRONT Media's management provide for the next earnings period?

What factors drove the changes in OUTFRONT Media's revenue and profit?

What is the market's earnings forecast for OUTFRONT Media next quarter?

- **Revenue Beat**: 3.5% YoY growth (24% transit, 1.1% billboard ex-exits). Q4 guide: low-mid single-digit growth.
- **Digital Transformation**: AWS partnership to digitize OOH, programmatic sales up 30%.
- **Profitability**: OIBDA +17%, AFFO +24%. Full-year AFFO guidance raised to high single-digit.
- **2026 Catalysts**: World Cup, entertainment recovery, and IRL brand experiences.

**【CEO Summary Section】**
- **Revenue Growth**: Consolidated revenue up 3.5% YoY, driven by 24% transit growth (NYC MTA up 37%). Excluding exited billboard contracts, billboard revenue would have grown 1.1%.
- **Digital Momentum**: Digital revenue up 12% (35.4% of total), programmatic/direct sales up 30%. AWS partnership announced to digitize OOH planning, buying, and measurement.
- **Q4 Outlook**: Low-mid single-digit revenue growth (mid-teens transit, low-single billboard). Excluding exited contracts, billboard growth expected mid-single digits.
- **Strategic Focus**: Transit as premium IRL brand-building platform, enterprise sales restructuring, and AI-driven media transformation.

**【CFO Financial Commentary】**
- **OIBDA**: $137M (+17% YoY), driven by NYC MTA margin expansion. Billboard OIBDA margin 39.5% (+170bps YoY). Transit OIBDA up $18M.
- **AFFO**: $100M (+24% YoY). Full-year guidance raised to high single-digit growth vs. prior mid-single.
- **CapEx**: Q3 $21M (29 new digital boards). Full-year $85M ($30M maintenance).
- **Balance Sheet**: Net leverage 4.7x (target 4-5x). $700M liquidity post-refinancing.
- **Dividend**: $0.30 maintained, $2M spent on acquisitions.

**【Q&A Key Highlights】**
- **Transit Growth Drivers**: NYC MTA campaigns (e.g., Bath & Body Works scent experience, ESPN Train), dedicated transit growth team, and IRL brand experiences.
- **Sales Restructuring**: Separate enterprise/commercial sales teams, transit-focused product marketing.
- **2026 Outlook**: Optimistic on entertainment recovery (2026 film slate), World Cup sponsorship opportunities, and sports sponsorship activations.
- **Government Shutdown Impact**: Minimal impact on D.C. transit properties.


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