| | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended | | Six Months Ended | | | June 30, | | June 30, | | (in millions, except percentages) | | 2026 | | 2025 | | 2026 | | 2025 | Billboard: | | | | | | | | | Billboard revenues | | $ | 379.4 | | | $ | 351.3 | | | $ | 712.3 | | | $ | 662.0 | | Billboard property lease(a) | | (117.8) | | | (111.8) | | | (229.1) | | | (221.0) | | Posting, maintenance and other(a) | | (39.6) | | | (36.7) | | | (76.7) | | | (72.4) | | Significant Billboard segment operating expenses(a) | | (157.4) | | | (148.5) | | | (305.8) | | | (293.4) | | Significant Billboard segment selling, general and administrative(b) | | (74.1) | | | (68.4) | | | (142.2) | | | (135.2) | | Billboard Adjusted OIBDA | | $ | 147.9 | | | $ | 134.4 | | | $ | 264.3 | | | $ | 233.4 | | Billboard Adjusted OIBDA margin | | 39.0 | % | | 38.3 | % | | 37.1 | % | | 35.3 | % | | | | | | | | | | Transit: | | | | | | | | | Transit revenues | | $ | 140.6 | | | $ | 106.3 | | | $ | 235.6 | | | $ | 184.0 | | Transit franchise(a) | | (66.4) | | | (62.8) | | | (126.1) | | | (120.8) | | Posting, maintenance and other(a) | | (20.4) | | | (18.2) | | | (38.3) | | | (34.8) | | Significant Transit segment operating expenses(a) | | (86.8) | | | (81.0) | | | (164.4) | | | (155.6) | | Significant Transit segment selling, general and administrative(b) | | (20.6) | | | (18.1) | | | (39.4) | | | (35.4) | | Transit Adjusted OIBDA | | $ | 33.2 | | | $ | 7.2 | | | $ | 31.8 | | | $ | (7.0) | | Transit Adjusted OIBDA margin | | 23.6 | % | | 6.8 | % | | 13.5 | % | | (3.8) | % | | | | | | | | | | | Total segments: | | | | | | | | | | Segment revenues | | $ | 520.0 | | | $ | 457.6 | | | $ | 947.9 | | | $ | 846.0 | | Billboard property lease(a) | | (117.8) | | | (111.8) | | | (229.1) | | | (221.0) | | Transit franchise(a) | | (66.4) | | | (62.8) | | | (126.1) | | | (120.8) | | Posting, maintenance and other(a) | | (60.0) | | | (54.9) | | | (115.0) | | | (107.2) | | Significant segment operating expenses(a) | | (244.2) | | | (229.5) | | | (470.2) | | | (449.0) | | Significant segment selling, general and administrative(b) | | (94.7) | | | (86.5) | | | (181.6) | | | (170.6) | | Segment Adjusted OIBDA | | $ | 181.1 | | | $ | 141.6 | | | $ | 296.1 | | | $ | 226.4 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended | | Six Months Ended | | | June 30, | | June 30, | | (in millions) | | 2026 | | 2025 | | 2026 | | 2025 | | Reconciliation to net income (loss): | | | | | | | | | | Segment Adjusted OIBDA | | $ | 181.1 | | | $ | 141.6 | | | $ | 296.1 | | | $ | 226.4 | | | Non-segment Adjusted OIBDA | | (20.8) | | | (17.5) | | | (35.4) | | | (38.1) | | | Total Adjusted OIBDA | | 160.3 | | | 124.1 | | | 260.7 | | | 188.3 | | Restructuring charges(c) | | — | | | (19.8) | | | — | | | (19.8) | | | Net loss on dispositions | | (0.3) | | | (1.1) | | | (1.3) | | | (1.2) | | | | | | | | | | | | Depreciation | | (20.0) | | | (23.6) | | | (40.7) | | | (47.2) | | | Amortization | | (17.0) | | | (17.4) | | | (34.2) | | | (34.5) | | | Stock-based compensation | | (6.9) | | | (6.0) | | | (12.5) | | | (15.5) | | | Total operating income | | 116.1 | | | 56.2 | | | 172.0 | | | 70.1 | | | Interest expense, net | | (36.2) | | | (36.5) | | | (72.2) | | | (72.5) | | | Loss on extinguishment of debt | | (1.4) | | | — | | | (1.4) | | | — | | | | | | | | | | | | Income (loss) before provision for income taxes and equity in earnings of investee companies | | 78.5 | | | 19.7 | | | 98.4 | | | (2.4) | | | Provision for income taxes | | (0.9) | | | (0.2) | | | (1.3) | | | (0.7) | | | Equity in earnings of investee companies, net of tax | | 0.1 | | | — | | | (0.1) | | | 1.9 | | | Net income (loss) before allocation to redeemable and non-redeemable noncontrolling interests | | 77.7 | | | 19.5 | | | 97.0 | | | (1.2) | | | Net income (loss) attributable to redeemable and non-redeemable noncontrolling interests | | 0.2 | | | — | | | 0.4 | | | (0.1) | | | Net income (loss) attributable to OUTFRONT Media Inc. | | $ | 77.5 | | | $ | 19.5 | | | $ | 96.6 | | | $ | (1.1) | | | | | | | | | | | | Revenues | | $ | 522.5 | | | $ | 460.2 | | | $ | 952.1 | | | $ | 850.9 | | | | | | | | | | | Billboard property lease(a) | | $ | (117.8) | | | $ | (111.8) | | | $ | (229.1) | | | $ | (221.0) | | Transit franchise(a) | | (66.4) | | | (62.8) | | | (126.1) | | | (120.8) | | Posting, maintenance and other(a) | | (61.9) | | | (56.9) | | | (118.4) | | | (111.0) | | | Operating expenses | | (246.1) | | | (231.5) | | | (473.6) | | | (452.8) | | Selling, general and administrative(b) | | (123.0) | | | (110.6) | | | (230.3) | | | (225.3) | | | Stock-based compensation | | 6.9 | | | 6.0 | | | 12.5 | | | 15.5 | | | Adjusted OIBDA | | $ | 160.3 | | | $ | 124.1 | | | $ | 260.7 | | | $ | 188.3 | |
(a)The significant expense categories and amounts align with the segment-level information that is regularly provided to the chief operating decision maker. (b)Selling, general and administrative expenses includes, but is not limited to, compensation and benefits, including commissions, professional fees, office rent and travel and entertainment. (c)In the three and six months ended June 30, 2025, Restructuring charges associated with the Plan consisted of severance payments, employee benefits and related costs, and professional fees, and includes approximately $2.2 million in non-cash charges for stock-based compensation.
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