OUT · Outfront Media Inc.

OUTFRONT Media reported strong first quarter 2026 results, with revenue of $429.6 million, up 10.0% year-over-year, driven by growth in both billboard and transit segments. Billboard revenue increased 7.1% to $332.9 million, benefiting from higher proceeds from condemnations and improved yield, partially offset by lost billboards. Transit revenue surged 22.3% to $95.0 million, primarily due to higher average revenue per display. Operating income improved to $55.9 million from $13.9 million in the prior year, reflecting revenue growth and disciplined expense management. Adjusted OIBDA rose 56.4% to $100.4 million, exceeding company guidance. Net income attributable to OUTFRONT was $19.1 million, compared to a net loss of $20.6 million in Q1 2025. Diluted EPS was $0.11, versus a loss of $0.14 per share last year. The company also declared a quarterly cash dividend of $0.30 per share, payable June 30, 2026. Management attributed the strong performance to broad-based strength across billboard and transit operations, with CEO Nick Brien noting that revenue, OIBDA, and AFFO all exceeded guidance. The company's AFFO attributable to OUTFRONT increased 125.1% to $61.0 million, driven by higher Adjusted OIBDA and a higher non-cash effect of straight-line rent. Operating cash flow improved to $75.3 million from $33.6 million. The balance sheet remains solid with $67.2 million in cash and $494.9 million available under its revolving credit facility. Total indebtedness stood at $2.6 billion as of March 31, 2026.