Outfront Media Q1 AFFO Beats and Revenue Jumps 10%, PT Raised
Outfront Media delivered Q1 AFFO of $0.34 per share, surpassing expectations of $0.28 while revenues rose 10% year-over-year to $429.6 million. Cowen & Co. maintained its Buy rating and lifted its price target to $38, reflecting confidence in continued growth across transit and billboard advertising.
1. Q1 Results
Outfront Media reported AFFO of $0.34 per share in Q1, exceeding consensus expectations of $0.28. Total revenue climbed 10% year-over-year to $429.6 million, driven by strength in both transit and billboard networks.
2. Segment Performance
Transit advertising revenue surged 22.3% year-over-year while billboard advertising grew 7.1%, reflecting robust demand across key markets and venues.
3. Cash Flow and Dividend
Operating cash flow increased 124.1% to $75.3 million compared with the prior year quarter, enabling the company to declare a quarterly dividend of $0.30 per share.
4. Analyst Outlook
Cowen & Co. reaffirmed their Buy rating and raised its price target from $32 to $38, reflecting confidence in Outfront Media’s growth trajectory and market position.