The following is a summary of the OUTFRONT Media Inc. (OUT) Q3 2024 Earnings Call Transcript:

Financial Performance:

• OUTFRONT Media reported Q3 2024 AFFO (Adjusted Funds From Operations) growth of nearly 7% to $81 million.

• U.S. Media revenue grew 5%, driven by billboard growth of 4.8% and transit revenue growth of 7.3%.

• U.S. Media adjusted OIBDA increased by 11%, with an overall corporate OIBDA increase of about 6%.

Business Progress:

• Focus on purely U.S. Media business following the divestiture of Canadian operations.

• Continued digital performance improvements with 10% revenue growth, representing over 32% of total revenues.

• Increased automated revenues, particularly through the MTA's digital network.

Opportunities:

• Expansion of automated programmatic capabilities in transit advertising, notably in major markets such as the MTA in New York.

• Growth in digital billboards across the U.S., with a completion of initial digital deployment in the New York MTA.

Risks:

• Revenue headwinds from the termination of the billboard contract with the New York MTA and replacement delays due to Southeast storms.

• Potential variation in national marketplace performance affecting regions like Los Angeles and New York.

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