OUTFRONT MEDIA REPORTS FOURTH QUARTER AND FULL YEAR 2021 RESULTS
Fourth quarter Revenues of $464.5 million
Operating Income of $105.2 million
Net Income attributable to OUTFRONT Media Inc. of $71.1 million, $0.41 earnings per diluted share
Adjusted OIBDA of $151.1 million
AFFO attributable to OUTFRONT Media Inc. of $111.0 million
Quarterly dividend of $0.30 per share, payable March 31, 2022
NEW YORK, Feb. 23, 2022 /PRNewswire/ — OUTFRONT Media Inc. (NYSE: OUT) today reported results for the quarter and full year ended December 31, 2021
“Both billboard and transit significantly exceeded our expectations in the fourth quarter, driving total revenues up 38% with strength coming from virtually all geographies and verticals.” said Jeremy Male, Chairman and Chief Executive Officer of OUTFRONT Media. “2021 has been a year of recovery, we are pleased to report fourth quarter OIBDA and AFFO results that exceed 2019 levels. Further, given our confidence in the continued strength of the business in 2022, we are raising our quarterly dividend to $0.30 per share.”
Three Months Ended December 31, | Twelve Months Ended December 31, | |||||||
$ in Millions, except per share amounts | 2021 | 2020 | 2021 | 2020 | ||||
Revenues | $464.5 | $335.8 | $1,463.9 | $1,236.3 | ||||
Organic Revenues | 464.5 | 336.7 | 1,463.9 | 1,214.5 | ||||
Operating Income | 105.2 | 39.5 | 168.3 | 72.5 | ||||
Adjusted OIBDA | 151.1 | 83.0 | 340.3 | 233.3 | ||||
Net Income (loss) before allocation to non-controlling interests | 71.5 | 4.8 | 36.4 | (60.2) | ||||
Net Income (loss)1 | 71.1 | 4.3 | 35.6 | (61.0) | ||||
Earnings (loss) per share1,2,3 | $0.41 | ($0.02) | $0.05 | ($0.56) | ||||
Funds From Operations (FFO)1 | 111.2 | 43.2 | 195.1 | 82.6 | ||||
Adjusted FFO (AFFO)1 | 111.0 | 49.9 | 205.1 | 96.3 | ||||
Shares Outstanding3 | 171.8 | 144.5 | 146.1 | 144.3 R | ||||
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Source: OUTFRONT Media
