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Jun 30, 2022
Outfront Media Q2 2022 Earnings Report
Reported strong second quarter with revenue growth and increased Adjusted OIBDA.
Key Takeaways
OUTFRONT Media Inc. reported a strong Q2 2022 with a 32% increase in revenue, driven mainly by billboard pricing and transit improvements. The company's operating income was $79.9 million and net income attributable to OUTFRONT Media Inc. was $48.0 million.
Revenues increased by 32% to $450.2 million compared to the same prior-year period.
Operating income reached $79.9 million.
Net income attributable to OUTFRONT Media Inc. was $48.0 million.
Adjusted OIBDA increased by 79% to $125.3 million.
Revenue by Segment
Forward Guidance
The company expects continued attractive growth throughout the second half of 2022, despite some current macroeconomic uncertainty.
Positive Outlook
- Business remains healthy.
- Continued attractive growth expected throughout the second half of 2022.
- Total revenues in 2022 are expected to surpass pre-COVID-19 pandemic levels based on strong performance in total billboard revenues.
- Adjusted OIBDA is expected to incrementally improve in 2022, driven by improvements in transit and other business, and be comparable to pre-COVID-19 pandemic levels.
- Billboard property lease expenses, such as rental expenses, and posting, maintenance and other expenses, as a percentage of revenues, are expected to be slightly lower than pre-COVID-19 pandemic levels.
Challenges Ahead
- Some current macroeconomic uncertainty.
- Transit businesses are still experiencing the significant impact of the ongoing novel coronavirus (“COVID-19”) pandemic.
- Total transit and other revenues in the U.S. Media segment are expected to incrementally improve in 2022, but still remain materially below pre-COVID-19 pandemic levels until 2023.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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