Here are the results of the OUTFRONT first quarter 2026 earnings release, earnings presentation and conference call, sponsored and analyzed by Signvalue.

• Revenue increased 10% to $430 million.  Billboard revenue increased 7%.  Transit revenue increased a whopping 22%.   The company’s billboard yield increased from $2,623 in the first quarter of 2025 to $2,911 in the first quarter of 2026.

• Expenses increased 1% to $329 million.  Operating expenses increased 3% due to higher billboard lease costs and transit fees.  However, SG&A expense declined 7% due to lower compensation expenses and salaries.
• Adjusted cash flow (OIBDA) increased 56% to $100.4 million due to revenue growth and expense controls.
• Capital expenditures totaled $24 million during the first quarter of 2026.   Maintenance accounted for $7 million and growth accounted for $17 million.
• OUTFRONT finished the first quarter with $2.6 billion in debt with a net debt/cashflow of a moderate 4.3 times and a weighted average cost of debt of 5.3%.

SignValue’s Take: Another outstanding quarter for OUTFRONT.  Cashflow increased significantly.  The company’s actions to exit low margin billboard contracts and to layoff 6% of the workforce are paying off.  Transit is clearly showing some remarkable revenue growth.  OUTFRONT closed the day up 3.3%.  Lamar was up 7.1%.  Clear Channel up 0.4%.  The S&P 500 was down 0.4%.

If you have questions, contact one of SignValue’s experienced analyst for a free and confidential consultation at info@signvalue.com or call 480–657–8400.

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