Outfront Media Inc. · NYSE:OUT
Outfront Media — Q1 2026 Earnings Presentation
23 slides from Outfront Media's earnings presentation, May 7, 2026
Slide 1: First Quarter 2026
2026 First Quarter May 7, 2026
Slide 2: Safe Harbor Disclaimer
SAFE HARBOR DISCLAIMER 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-lo
Slide 3: Key Figures 1Q26
KEY FIGURES 1Q26 Metric Q1’26 Year-over-Year Consolidated Revenue $430 +10% Billboard Revenue $333 +7% Transit Revenue $95 +22% Consolidated Operating Income $56 +302% Consolidated Adjusted OIBDA $100 +56% Billboard Adjusted OIBDA $116 +18% Transit Adjusted OIBDA Loss ($1) +$13M Consolidated Net Inc
Slide 4: Revenues
REVENUES Items Affecting Comparability Billboard Condemnations Billboard Revenue Q1’26: $13.5 million Q1’25: $0.0 million LA Billboard Contract Billboard Revenue Q1’26: $0.0 million Q1’25: $4.4 million Notes: $ Millions unless otherwise stated. Numbers may not sum due to rounding. See Appendix for N
Slide 5: Billboard Revenues
$500.0 BILLBOARD REVENUES 23.0% 18.0% $400.0 29.4% 29.7% $332.9 Items Affecting Comparability 7.1% $310.7 Billboard 13.0% Condemnations $300.0 $97.9 Static/Digital Billboard Revenue $92.3 6.1% Q1’26: $13.5/$0.0 million 8.0% Q1’25: $0.0/$0.0 million $200.0 LA Billboard Contract 7.6% $218.4 $235.0 3.0
Slide 6: Transit Revenues
TRANSIT REVENUES 23.0% $120.0 47.1% $100.0 $95.0 18.0% 22.3% 45.8% $80.0 $77.7 25.6% 13.0% $44.7 $60.0 $35.6 8.0% $40.0 19.5% $50.3 3.0% $20.0 $42.1 $0.0 -2.0% Yr/Yr 1Q25 % Chg. 1Q26 Static & Other Digital Total Digital as % of Transit Revenue Notes: $ Millions unless otherwise stated. Numbers may n
Slide 7: Digital Revenues
DIGITAL REVENUES Items Affecting Comparability LA Billboard Contract Digital Revenue Q1’26: $0.0 million Q1’25: $3.6 million Notes: $ Millions unless otherwise stated. Numbers may not sum due to rounding. 7
Slide 8: Enterprise & Commercial
ENTERPRISE & COMMERCIAL Notes: Prior period presentation conforms to current reporting classifications. Commercial includes $13.5 million of billboard condemnations in the three months ended March 31, 2026. $ Millions unless otherwise stated. Numbers may not sum due to rounding. 8
Slide 9: Billboard Yield
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. 9
Slide 10: Billboard Expense & Adj. OIBDA
BILLBOARD EXPENSE & ADJ. OIBDA Billboard Posting, Maint. Adjusted OIBDA Property Lease & Other $200.0 $120.0 $120.0 $180.0 $100.0 $100.0 $160.0 31.9% 35.0% Yr/Yr Yr/Yr $140.0 $80.0 % Chg $80.0 $120.0 % Chg Yr/Yr $100.0 $60.0 $60.0 $109.2 1.9% $111.3 $80.0 17.6% $40.0 $40.0 % Chg $60.0 $99.0 $116.4 $
Slide 11: Transit Expense & Adj. OIBDA
TRANSIT EXPENSE & ADJ. OIBDA Transit Franchise Posting, Maint. & $100.0 $100.0 Other $90.0 $90.0 $80.0 $80.0 $70.0 Yr/Yr $70.0 $60.0 % Chg $60.0 Yr/Yr $50.0 $50.0 $40.0 $58.0 2.9% $59.7 Adjusted OIBDA $40.0 $30.0 $30.0 % Chg 7.8% $20.0 $20.0 $10.0 $0.0 $10.0 $0.0 $16.6 $17.9 20.0 Loss 15.0 1Q25 1Q26
Slide 12: Adjusted OIBDA
ADJUSTED OIBDA (60.0%) ) ( ) ( Notes: $ Millions unless otherwise stated. Numbers may not sum due to rounding. See Appendix for Non-GAAP reconciliations. 12
Slide 13: Capital Expenditures
CAPITAL EXPENDITURES Notes: $ Millions unless otherwise stated. Numbers may not sum due to rounding. 13
Slide 14: Consolidated AFFO and Maintenance Capex
$70.0 CONSOLIDATED AFFO (1) $6.3 ($0.4) ($0.7) $61.0 ($1.5) 125.1% yr/yr Cash Taxes Maintenance Capex $60.0 $30.2 Other Corporate Adjusted OIBDA $50.0 $40.0 $30.0 $27.1 Billboard & Transit OIBDA $20.0 $10.0 $0.0 1Q25 1Q26 Notes: $ Millions unless otherwise stated. Numbers may not sum due to rounding
Slide 15: Balance Sheet
BALANCE SHEET 1Q26 Weighted Average Cost of Debt 5.3% Net Leverage Ratio1 4.3x Revolving credit facility availability shown net of letters of credit outstanding. Notes: $ Millions unless otherwise stated. Reflects face value of debt. 1) Calculated as Total Debt less Cash divided by LTM “Consolidated
Slide 16: Appendix
Appendix 16
Slide 17: Non-GAAP Reconciliations
NON-GAAP RECONCILIATIONS 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 descr
Slide 18: Non-GAAP Reconciliations
NON-GAAP RECONCILIATIONS Notes: See Notes on Page 23 18
Slide 19: Non-GAAP Reconciliations
NON-GAAP RECONCILIATIONS 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) 2024 2024 2024 2025 2025 2025 2025 2026 2025 2026 Net income (loss) attributable to OUTFRONT Media Inc. 176.8 34.6 74.0 (20.6) 19.5 51.3 96.8
Slide 20: Trending Schedules
TRENDING SCHEDULES 2024 2025 2026 Q1 Q2 Q3 Q4 FY Q1 Q2 Q3 Q4 FY Q1 Total Revenues $408.5 $477.3 $451.9 $493.2 $1,830.9 $390.7 $460.2 $467.5 $513.3 $1,831.7 $429.6 Billboard $313.9 $360.2 $360.6 $374.6 $1,409.3 $310.7 $351.3 $352.8 $376.6 $1,391.4 $332.9 Static & Other $226.3 $248.0 $249.5 $248.6 $97
Slide 21: Trending Schedules
TRENDING SCHEDULES 2024 2025 2026 Q1 Q2 Q3 Q4 FY Q1 Q2 Q3 Q4 FY Q1 Digital Revenues $119.7 $154.8 $147.7 $179.5 $601.7 $127.9 $157.1 $165.5 $198.6 $649.1 $119.7 Billboard $87.6 $112.2 $111.1 $126.0 $436.9 $92.3 $107.2 $109.5 $125.3 $434.3 $87.6 Transit $32.1 $42.6 $36.6 $53.5 $164.8 $35.6 $49.9 $56.
Slide 22: Notes to Appendix
NOTES TO APPENDIX NOTES TO EXHIBITS PRIOR PERIOD PRESENTATION CONFORMS TO CURRENT REPORTING CLASSIFICATIONS. (a) Impairment charge related to our Transit reporting unit and New York Metropolitan Transportation Authority asset group. (b) Income tax effect related to Restructuring charges in 2025 and
Slide 23: About OUTFRONT Media Inc.
About OUTFRONT Media Inc. OUTFRONT is one of the largest and most trusted out - of - home media companies in the U.S., helping brands connect with audiences in the moments and environments that matter most. As OUTFRONT evolves, it’s defining a new era of in - real - life (IRL) marketing, turning pub