Slide 1: First Quarter 2025
Slide 2: Cautionary Statement Regarding Forward-Looking Statements
Cautionary Statement Regarding Forward-Looking Statements We have made statements in this document that are forward-looking statements within the meaning of the federal securities laws, including the Private Securities Litigation Reform Act of 1995. You can identify forward-looking statements by the
Slide 3: Q1'25 Results Summary
Metric Q1’25 Year-over-Year Consolidated Revenue $391 (4.4%) Organic Revenue $391 +0.2% Billboard Revenue $311 (1.0%) Transit Revenue $78 2.6% Consolidated Operating Income* $14 (0.7%) Consolidated Adjusted OIBDA $64 (2.9%) Billboard Adjusted OIBDA $99 2.0% Transit Adjusted OIBDA Loss ($14) 7.2% Con
Slide 4: Consolidated Results
Notes: $ Millions unless otherwise stated. Numbers may not sum due to rounding. See Appendix for Non-GAAP reconciliations. N/M: Not meaningful
Slide 5: Revenue by Segment
Notes: $ Millions unless otherwise stated. Numbers may not sum due to rounding. See Appendix for Non-GAAP reconciliations.
Slide 6: Adjusted OIBDA and Operating Results
Notes: $ Millions unless otherwise stated. Numbers may not sum due to rounding. See Appendix for Non-GAAP reconciliations.
Slide 7: Digital Revenue and Displays
Notes: $ Millions unless otherwise stated. Digital revenue amounts presented above are solely based on digital revenues generated only in the United States for all periods presented. Numbers may not sum due to rounding. See Appendix for additional information, including digital revenues and displays
Slide 8: Billboard Revenue by Category
Notes: Prior period presentation conforms to current reporting classifications. Local includes $0.9 million in the three months ended March 31, 2024. $ Millions unless otherwise stated. Numbers may not sum due to rounding.
Slide 9: Billboard Yield
Notes: Yield defined as reported revenue per average display per month for the quarter. Numbers may not sum due to rounding. See Appendix for Non-GAAP reconciliations.
Slide 10: Billboard Results
Yr/Yr % Chg Yr/Yr (5.5%) % Chg (2.5%) Yr/Yr % Chg 2.0% Yr/Yr Yr/Yr % Chg % Chg (2.4%) 3.2% Notes: $ Millions unless otherwise stated. Percentages atop Adjusted OIBDA columns represent Billboard Adjusted OIBDA divided by Billboard revenues. Numbers may not sum due to rounding.
Slide 11: Transit Results
Yr/Yr % Chg Yr/Yr N/M % Chg 3.1% Yr/Yr % Chg 7.2% Yr/Yr % Chg Yr/Yr % Chg 1.0% 2.4% Notes: $ Millions unless otherwise stated. Percentages atop Adjusted OIBDA columns represent Transit Adjusted OIBDA divided by Transit Revenues. Numbers may not sum due to rounding. N/M - Not meaningful
Slide 12: Operating Expenses and Cash Flow Items
Notes: $ Millions unless otherwise stated. Numbers may not sum due to rounding. See Appendix for Non-GAAP reconciliations.
Slide 13: Additional Information
Notes: $ Millions unless otherwise stated. Numbers may not sum due to rounding. See Appendix for additional information.
Slide 14: AFFO Bridge
3.0% yr/yr (1) Other Adjusted OIBDA Billboard & Transit OIBDA Billboard & Transit Maintenance Capex Cash Taxes Other Maintenance Capex Other Corporate Adjusted OIBDA Interest Expense Notes: $ Millions unless otherwise stated. Numbers may not sum due to rounding. See Appendix for Non-GAAP reconciliat
Slide 15: Debt Maturity, Cost of Debt and Net Leverage
1Q25 Weighted Average Cost of Debt 5.4% 1 Net Leverage Ratio 4.8x Notes: $ Millions unless otherwise stated. Reflects face value of debt. 1) Calculated as Total Debt less Cash divided by LTM “Consolidated EBITDA” (as defined in, and calculated in accordance with, the Credit Agreement governing the C
Slide 16: Appendix
OUTFRONT’ Appendix
Slide 17: Non-GAAP Financial Measures
Non-GAAP Financial Measures In addition to the results prepared in accordance with generally accepted accounting principles in the United States (“GAAP”) provided throughout this document, this document and the accompanying tables include non-GAAP financial measures as described below. We calculate
Slide 18: Revision of Previously Issued Financial Information
Revision of Previously Issued Financial Information In the third quarter of 2024, we identified an error related to the accounting for noncontrolling interests in our consolidated joint ventures, which include buy/sell clauses. The error related to the appropriate classification of these noncontroll
Slide 19: Non-GAAP Reconciliations
NON-GAAP RECONCILIATIONS Three Months Ended March 31, 2025 (in millions, except percentages) Billboard Transit Other Corporate Consolidated Revenues $ 310.7. $ 77 23 §$ — $ 390.7 Organic revenues®) $ 310.7 $ 777 $ 2.3 $ — $ 390.7 Non-organic revenues) $ - $ — $ _ $ — $ _ Operating income (loss) $ 61
Slide 20: Non-GAAP Reconciliations: Net Income to Adjusted OIBDA and AFFO
Three Months Ended Twelve Months Ended Jun 30, Sep 30, Dec 31, Mar 31, Jun 30, Sep 30, Dec 31, Mar 31, Mar 31, Mar 31, (in millions) 2023 2023 2023 2024 2024 2024 2024 2025 2024 2025 Net income (loss) attributable to OUTFRONT Media Inc. ($478.9) $17.0 $60.4 ($27.2) $176.8 $34.6 $74.0 ($20.6) ($428.7
Slide 21: Non-Organic Revenue (Canada) Detail
Three Months Ended Mar 31, Jun 30, Sep 30, Dec 31, Mar 31, Jun 30, 2023 2023 2023 2023 2024 2024 Revenue $ 17.6 $ 23.9 $ 24.3 $ 26.3 $ 18.6 $ 16.3 Operating Expenses Billboard property lease 5.4 5.2 6.1 5.7 6.2 4.3 Transit franchise 1.0 1.3 1.4 1.1 1.0 0.8 Posting, maintenance and other 5.0 5.3 5.1
Slide 22: Non-GAAP Reconciliation Notes
Notes: Numbers may not sum due to rounding; 1) Unaudited; 2) Excludes stock-based compensation expense; 3) For prior period reconciliations, please see prior period earnings presentations on the Investor Relations section of our website, www.outfront.com.
Slide 23: Non-GAAP Reconciliation Notes
Notes: Numbers may not sum due to rounding; 1) Unaudited; 2) Excludes stock-based compensation expense; 3) Prior period presentation conforms to current reporting classifications.
Slide 24: Notes to Exhibits
NOTES TO EXHIBITS PRIOR PERIOD PRESENTATION CONFORMS TO CURRENT REPORTING CLASSIFICATIONS. (a) Organic revenues exclude revenues associated with the impact of the sale of our equity interests in Outdoor Systems Americas ULC and its subsidiaries (the “Transaction”), which hold all of the assets of ou
Slide 25: About OUTFRONT Media Inc.
OUT LISTED NYSE About OUTFRONT Media Inc. OUTFRONT leverages the power of technology, location and creativity to connect brands with consumers outside of their homes through one of the largest and most diverse sets of billboard and transit assets in the United States. Through its technology platform