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OUTFRONT MEDIA REPORTS FIRST QUARTER 2021 RESULTS

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Revenues of $259.2 million
Operating loss of $31.0 million
Net loss attributable to OUTFRONT Media Inc. of $67.7 million, $0.52 per diluted share
Adjusted OIBDA of $11.1 million
AFFO deficit attributable to OUTFRONT Media Inc. of $24.5 million

NEW YORK, May 4, 2021 /PRNewswire/ — OUTFRONT Media Inc. (NYSE: OUT) today reported results for the quarter ended March 31, 2021.

OUTFRONT Media Logo. (PRNewsFoto/OUTFRONT Media Inc.)

“First quarter revenues came in as expected and, from here forward, we will be making a big forward step towards our record 2019 results,” said Jeremy Male, Chairman and Chief Executive Officer of OUTFRONT Media. “We are experiencing substantial revenue growth in all our segments in the second quarter, which will be the inflection point for both us and the industry as the world moves from stay-at-home to out-of-home.”

Three Months Ended
March 31,

$ in Millions, except per share amounts

2021

2020

Revenues

$259.2

$385.3

Organic Revenues

259.2

372.1

Operating Income (loss)

(31.0)

33.8

Adjusted OIBDA

11.1

75.5

Net income (loss) before allocation to non-controlling interests

(67.6)

6.3

Net income (loss)2

(67.7)

6.1

Earnings (loss) per share1,2,3

($0.52)

$0.04

Funds From Operations (FFO)2

(30.4)

44.7

Adjusted FFO (AFFO)2

(24.5)

40.0

Shares Outstanding3

144.8

144.7

Notes: See exhibits for reconciliations of non-GAAP financial measures; 1) Per share for diluted earnings per share; 2) References to “Net income (loss)”, “Earnings (loss) per share”, “FFO” and “AFFO” mean “Net income (loss) attributable to OUTFRONT Media Inc.”, “Earnings (loss) attributable to OUTFRONT Media Inc. per share”, “FFO attributable to OUTFRONT Media Inc.” and “AFFO attributable to OUTFRONT Media Inc.,” respectively; 3) Diluted weighted average shares outstanding.

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Source: OUTFRONT Media

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