Outfront Media Inc Stock Price, News & Analysis

OUTFRONT Media Inc. (NYSE: OUT) has announced that it will release its financial results for the second quarter of 2024, ending June 30, on Tuesday, August 6, 2024, after the market closes. The company will host a conference call to discuss the results on the same day at 4:30 p.m. Eastern Time.

Investors and interested parties can access the earnings announcement in the Investor Relations section of OUTFRONT's website. The conference call can be joined using the following details:

• U.S. callers: 833-470-1428
• International callers: 404-975-4839
• Passcode: 988725

Both live and replay versions of the conference call will be available via webcast on the company's website.

OUTFRONT Media (NYSE: OUT) has finalized the sale of its Canadian business to Bell Media, a subsidiary of BCE (TSX, NYSE: BCE), for C$410 million in cash, subject to adjustments. This transaction enables OUTFRONT Media to reduce financial leverage and refocus on its U.S. operations. The deal is seen as highly beneficial for Bell Media, significantly enhancing its portfolio in the out-of-home advertising sector with additional digital and traditional assets. According to OUTFRONT Media's CEO Jeremy Male, the sale underscores the value of their out-of-home assets.

Bell Media President Sean Cohan highlighted that the acquisition will bolster Bell Media's leadership and deliver superior results for advertising partners.

OUTFRONT Media (NYSE:OUT) and GLAAD have launched the 'Protect Our Pride' campaign to celebrate Pride Month in June. For a $25 donation to GLAAD, individuals can display their photo, name, and a personalized message on digital billboards nationwide. LGBTQ-owned businesses can choose a specific message for a $250 donation. This initiative follows last year's '15 Seconds of Fabulous' campaign and aims to spotlight the LGBTQ community, encouraging corporate allyship. The funds raised will support GLAAD's mission to advance LGBTQ acceptance and equality.

OUTFRONT Media (NYSE: OUT) announced that its CEO, Jeremy Male, will present at J.P. Morgan's 52nd Annual Global Technology, Media and Communications Conference. The event is scheduled for May 21, 2024, at 2:25 p.m. Eastern Time. A live and replay audio webcast will be available on the investor relations section of OUTFRONT Media's website.

OUTFRONT Media Inc. reported strong first quarter financial results with revenues of $408.5 million, operating income of $14.0 million, and a net loss of $27.2 million. Adjusted OIBDA stood at $66.5 million, with AFFO of $23.2 million. The company also declared a quarterly dividend of $0.30 per share, payable on June 28, 2024. The U.S. Media segment saw a revenue increase of 3.5%, while the Other segment reported a decrease of 2.6%. Adjusted OIBDA increased by 10.5% compared to the same period last year. Overall, OUTFRONT Media Inc. highlighted positive growth and solid financial performance for the quarter.

OUTFRONT Media Inc. (NYSE: OUT) has declared a quarterly cash dividend of $0.30 per share payable on June 28, 2024, to shareholders of record at the close of business on June 7, 2024.

OUTFRONT Media and the NYC Landmarks60 Alliance have launched Trivia Moments, an interactive citywide competition celebrating the 60th anniversary of NYC's Landmarks Law. New Yorkers can participate by answering daily trivia questions displayed on digital screens across the city, with weekly winners receiving free NYC Subway or Bus rides. The initiative aims to educate and engage the public about the history and landmarks of New York City.