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Jun 30, 2020
Outfront Media Q2 2020 Earnings Report
Reported second quarter results, impacted by COVID-19.
Key Takeaways
OUTFRONT Media Inc. reported a decrease in revenue and a net loss for the second quarter of 2020, primarily due to the impact of the COVID-19 pandemic on advertising expenditures and overall demand. The company is focusing on cost control and maintaining a strong liquidity position.
Revenues decreased by 49.4% compared to the same period last year, totaling $232.9 million.
Operating loss was $25.9 million, a significant downturn from the operating income of $88.7 million in the prior year.
Net loss attributable to OUTFRONT Media Inc. was $57.9 million, or $0.44 per diluted share.
Adjusted OIBDA decreased by 84.9% to $21.7 million.
Revenue by Segment
Forward Guidance
The COVID-19 pandemic is expected to continue to have a significant impact on the global economy and OUTFRONT Media's business. Key performance indicators, total revenues, and total expenses are expected to be materially lower in 2020 than historical levels, particularly in the U.S. Media segment and with respect to the transit and other business.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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