[ad_1]
Revenues of $468.8 million
Operating loss of $438.2 million (includes $511.4 million impairment taken on U.S. Transit and Other)
Net loss attributable to OUTFRONT Media Inc. of $478.9 million
Adjusted OIBDA of $122.2 million
AFFO attributable to OUTFRONT Media Inc. of $78.0 million
Quarterly dividend of $0.30 per share, payable September 29, 2023
NEW YORK, Aug. 3, 2023 /PRNewswire/ — OUTFRONT Media Inc. (NYSE:OUT) today reported results for the quarter ended June 30, 2023.
"Second quarter revenues grew 4%, driven by higher billboard yields and growth from both our local and national businesses," said Jeremy Male, Chairman and Chief Executive Officer of OUTFRONT Media. "Though we expect modest growth in the third quarter, we are seeing some impact from the ongoing strikes within the media industry in the second half, particularly in our transit business. Despite this current headwind, we remain excited by the long-term opportunity for of our business and the out of home industry."
|
Three Months Ended |
Six Months Ended |
|||||||
|
$ in Millions, except per share amounts |
2023 |
2022 |
2023 |
2022 |
||||
|
Revenues |
$468.8 |
$450.2 |
$864.6 |
$823.7 |
||||
|
Organic revenues |
465.0 |
446.3 |
857.9 |
818.7 |
||||
|
Operating income (loss) |
(438.2) |
79.9 |
(428.0) |
108.4 |
||||
|
Adjusted OIBDA |
122.2 |
125.3 |
182.4 |
195.5 |
||||
|
Net income (loss) before allocation to non-controlling interests |
(478.4) |
48.4 |
(507.1) |
48.5 |
||||
|
Net income (loss)1 |
(478.9) |
48.0 |
(507.8) |
47.9 |
||||
|
Net income (loss) per share1,2,3 |
($2.92) |
$0.28 |
($3.11) |
$0.25 |
||||
|
Funds From Operations (FFO)1 |
(59.8) |
92.4 |
(42.7) |
134.2 |
||||
|
Adjusted FFO (AFFO)1 |
78.0 |
93.2 |
86.8 |
128.7 |
||||
|
Shares outstanding3 |
165.0 |
164.6 |
164.8 |
158.8 |
||||
|
Notes: See exhibits for reconciliations of non-GAAP financial measures; 1) References to "Net… |
[ad_2]
