NYSE$OUT
Outfront Media Inc · Q4 2021 earnings
Q4 2021 earnings · · Investor relations
Briefing
Outfront Media reported Q4 2021 results, with revenues and OIBDA exceeding expectations and dividend raised.
OUTFRONT Media Inc. reported strong Q4 2021 results, with revenues up 38% due to significant growth in both billboard and transit sectors. The company's OIBDA and AFFO exceeded 2019 levels, leading to an increased quarterly dividend.
- Total revenues increased by 38% to $464.5 million compared to the same quarter in the previous year.
- Operating income reached $105.2 million.
- Net income attributable to OUTFRONT Media Inc. was $71.1 million, with earnings per diluted share at $0.41.
- Adjusted OIBDA increased by 82.0% to $151.1 million.
Headline financials
Revenue & EPS history
Outfront Media · Revenue · Quarterly
$465M
Revenue by segment
Outfront Media · $490M total across 3 segments · Q4 2021
- Billboard$354M+26.7%72.2%
- Transit$111M+95.6%22.5%
- Other$25.9M—5.3%
Forward guidance
OUTFRONT Media anticipates incremental improvements in key performance indicators and total revenues for 2022, with total revenues potentially surpassing pre-COVID-19 levels, driven by strong billboard performance. However, transit and other revenues are expected to remain materially below pre-pandemic levels, and total expenses are projected to increase. The company will focus on cost management and constructive discussions with transit franchise partners.
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 within the U.S. Media segment.
- Total transit and other revenues in the U.S. Media segment are anticipated to incrementally improve.
- Adjusted OIBDA is projected to incrementally improve, driven by improvements in the transit and other business.
- Focus on managing costs and expenses to offset any decreases in revenues.
Headwinds
- Transit and other revenues in the U.S. Media segment are expected to remain materially below pre-COVID-19 pandemic levels.
- Total expenses are expected to increase in 2022 compared to 2021 and exceed pre-COVID-19 pandemic levels.
- Billboard property lease expenses, such as rental expenses, and posting, maintenance, and other expenses, are expected to be consistent with pre-COVID-19 pandemic levels as a percentage of revenues.
- Transit franchise expenses, such as transit franchise payments, as a percentage of revenues, are expected to decrease in 2022 as compared to 2021 but be higher in 2022 than pre-COVID-19 pandemic levels.
- Uncertainty remains around the severity and duration of the COVID-19 pandemic and its impact on the business.
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 Q4 2021
+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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