NYSE$OUT
Outfront Media Inc · Q1 2022 earnings
Q1 2022 earnings · · Investor relations
Briefing
Reported a strong first quarter with revenue increase and improved profitability.
OUTFRONT Media Inc. reported a strong first quarter in 2022, with revenues of $373.5 million, a 44% increase year-over-year. The company's operating income was $28.5 million, and it experienced a net loss attributable to OUTFRONT Media Inc. of $0.1 million. Adjusted OIBDA reached $70.2 million, and AFFO attributable to OUTFRONT Media Inc. was $35.5 million.
- Total revenues increased by 44% year-over-year, reaching $373.5 million.
- U.S. Billboard revenues rose to nearly 20% above 2019 levels, driven by high demand.
- Operating income was $28.5 million, a significant improvement compared to the previous year.
- The company declared a quarterly dividend of $0.30 per share, payable on June 30, 2022.
Headline financials
Revenue & EPS history
Outfront Media · Revenue · Quarterly
$374M
Revenue by segment
Outfront Media · $393M total across 3 segments · Q1 2022
- Billboard$298M+33.4%75.9%
- Transit$75.3M+111.5%19.2%
- Other$19.3M+39.9%4.9%
Forward guidance
The company expects key performance indicators and total revenues to incrementally improve in 2022 compared to 2021, with total revenues potentially surpassing pre-COVID-19 pandemic levels due to strong billboard revenues. Transit revenues are expected to remain materially below pre-COVID-19 levels until 2023. Adjusted OIBDA is also expected to improve, but remain below pre-pandemic levels, while total expenses are expected to increase and exceed pre-COVID-19 levels.
Tailwinds
- Total revenues in 2022 are expected to approach or potentially surpass pre-COVID-19 pandemic levels.
- Strong performance is expected in total billboard revenues in the U.S. Media segment.
- Adjusted OIBDA is expected to incrementally improve in 2022.
- Improvements are expected in the transit and other business.
- Key performance indicators are expected to incrementally improve in 2022 as compared to 2021.
Headwinds
- Some key performance indicators will continue to be materially lower in 2022 than pre-COVID-19 pandemic levels.
- Total transit and other revenues in the U.S. Media segment are expected to remain materially below pre-COVID-19 pandemic levels until 2023.
- Adjusted OIBDA is expected to remain below pre-COVID-19 pandemic levels.
- Total expenses are expected to increase in 2022 as compared to 2021, and exceed pre-COVID-19 pandemic levels.
- Transit franchise expenses, as a percentage of revenues, are expected to be higher in 2022 than pre-COVID-19 pandemic levels.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q1 2022
+0.4%
Avg return
Earnings day
+0.7%
Avg return
5 days after
+2.0%
Avg return
30 days after
55%
29 / 53 earnings
Positive
+22.4%
Q3 2023
Best reaction
-17.7%
Q2 2023
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +3.3% | -2.5% | — | |
| Q4 2025 | +5.9% | +7.0% | -4.5% | |
| Q3 2025 | +13.6% | +21.9% | +32.3% | |
| Q1 2025 | -2.5% | +5.0% | +5.8% | |
| Q4 2024 | +0.6% | +1.4% | -11.0% | |
| Q3 2024 | +3.6% | -0.8% | +4.2% | |
| Q2 2024 | +7.6% | +8.3% | +20.8% | |
| Q1 2024 | -7.4% | -7.2% | -11.3% | |
| Q4 2023 | +18.5% | +18.7% | +28.2% | |
| Q3 2023 | +22.4% | +21.4% | +32.4% | |
| Q2 2023 | -17.7% | -21.4% | -22.7% | |
| Q1 2023 | -9.1% | -10.8% | -10.6% | |
| Q4 2022 | -5.3% | -5.9% | -19.0% | |
| Q3 2022 | -5.5% | -5.0% | +6.3% | |
| Q2 2022 | -2.1% | +3.1% | -5.3% | |
| Q1 2022 | -5.6% | -10.0% | -19.6% | |
| Q4 2021 | +6.6% | +7.8% | +15.9% | |
| Q3 2021 | +6.0% | +2.6% | -8.3% | |
| Q2 2021 | +8.4% | +6.3% | +6.3% | |
| Q1 2021 | -5.3% | -0.4% | -4.0% | |
| Q4 2020 | -6.9% | -4.3% | +1.5% | |
| Q3 2020 | +8.9% | +27.4% | +41.3% | |
| Q2 2020 | +2.1% | +5.1% | +13.5% | |
| Q1 2020 | +0.8% | -20.8% | +35.0% | |
| Q4 2019 | -3.5% | -11.8% | -57.2% | |
| Q3 2019 | -5.4% | -6.1% | -5.3% | |
| Q2 2019 | +0.5% | +3.6% | +2.3% | |
| Q1 2019 | +3.1% | +4.4% | +5.7% | |
| Q4 2018 | +2.7% | +5.4% | +6.9% | |
| Q3 2018 | +11.7% | +15.5% | +14.0% | |
| Q2 2018 | -10.6% | -11.2% | -4.1% | |
| Q1 2018 | +2.3% | +4.0% | +5.0% | |
| Q4 2017 | -7.7% | -9.3% | -15.6% | |
| Q3 2017 | +2.1% | +3.0% | -1.2% | |
| Q2 2017 | +1.6% | +0.0% | -1.4% | |
| Q1 2017 | -10.1% | -9.8% | -12.4% | |
| Q4 2016 | -8.6% | -4.8% | -3.8% | |
| Q3 2016 | +7.5% | +1.9% | +18.6% | |
| Q2 2016 | -3.0% | -3.1% | -2.7% | |
| Q1 2016 | -2.0% | — | — | |
| Q4 2015 | +0.5% | — | — | |
| Q3 2015 | +0.4% | — | — | |
| Q2 2015 | -6.5% | — | — | |
| Q1 2015 | -3.2% | — | — | |
| Q4 2012 | -3.4% | — | — | |
| Q4 2014 | -3.4% | — | — | |
| Q3 2014 | +0.8% | — | — | |
| Q3 2013 | +0.8% | — | — | |
| Q2 2014 | -2.6% | — | — | |
| Q2 2013 | -2.6% | — | — | |
| Q1 2013 | +5.7% | — | — | |
| Q1 2014 | +5.7% | — | — | |
| Q4 2013 | +5.7% | — | — | |
| Q3 2012 | — | — | — | |
| Q2 2012 | — | — | — | |
| Q1 2012 | — | — | — |
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