Outfront Media (OUT) Tops Q3 EPS by 4c, Revenues Miss

Outfront Media (NYSE: OUT) reported Q3 EPS of ($0.14), $0.04 better than the analyst estimate of ($0.18). Revenue for the quarter came in at $282.3 million versus the consensus estimate of $284.77 million.

"Billboard revenue performed ahead of our expectations in the third quarter as audiences returned and, while transit revenue improved, it is lagging given continued low ridership," said Jeremy Male, Chairman and Chief Executive Officer of OUTFRONT Media. "Significant cost reductions drove a notable sequential improvement in Adjusted OIBDA and AFFO and, with our strong liquidity from aggressive actions taken earlier this year, we are in a good position to invest in our business for future growth."

For earnings history and earnings-related data on Outfront Media (OUT) click here.

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