I’m just wondering, as you sit here and look at the outlook, do you feel confident to be able to put more money to work in the business opportunistically or do you still want to wait and see if things sort of stabilize further? So, it’s reasonable that until those categories come back, there is going to be a couple of markets where we are– where we are just more challenged than others. Our board evaluates our capital allocation on ongoing basis, and our stated intention remains that we will meet our minimum rate distribution requirements. Thanks, Alexia. We took our teams and our contractors, go off the lines at the end of March, and we did very little in second quarter. Jeremy Male - Chairman and Chief Executive Officer. I just had a quick question on the map you have – sort of the year-over-year changes in trajectory of the rail audience – Slide on 21 versus revenues. So, for example, in Times Square right now, they wouldn’t be at pre-pandemic levels. There is one other point that we need to take into account when we are thinking about Transit, and that is obviously that we have got a reasonably sized piece of Transit which actually isn’t impacted by those audience numbers that you saw, sort of, aboveground. Relative to the third quarter, we expect the sequential improvement will largely be driven by billboard and improving picture in both local and national. That does conclude today’s question-and-answer session. Transit revenues were again not sufficient for us to recoup any deployment capital this quarter. But in other markets across the U.S. are actually beyond pre-pandemic levels, in part reflecting car usage versus transit ridership. You can hear his entire talk here. And you mentioned the Port Authority, obviously the big – the really big piece of the Port Authority was the airport business, that is the vast majority of that bid, and you saw the clear channel announcement earlier this week. Male made $6,993,709 in total compensation. OUTFRONT Media Inc. (NYSE: OUT) announced today that Jeremy Male, Chairman Chief Executive Officer, is scheduled to present at the Citi Global TMT West Conference in Las Vegas, Nevada on Wednesday, January 8, 2020 at 12:30 p.m. Pacific Time. Executive Vice President, CFO. CBS Outdoor Americas Inc. (NYSE:CBSO) announced today that Jeremy Male, Chief Executive Officer, is scheduled to present at the Goldman Sachs 23 rd Annual Communacopia Conference in New York, New York on Wednesday, September 10, 2014 at 2:55 p.m. Eastern Time. There is still a lot of uncertainty in the economy and the actions we took earlier this year, provide us with ample liquidity of $1.2 billion of cash and liquidity. I think it’s obviously, as with any other media, we are selling an audience, and the fact that new audiences are now back, is great. Thank you. We are obviously aware of the climate that we have right now, and we are hopeful that given the climate that we have and without significant further lock downs, that we will be able to deliver, certainly, the performance that we have just guided to earlier on the call. A live and replay audio webcast will be available on the investor So, you got a little bit of geographic variation. We saw some data from the CBRE that suggests that people in offices are still sub 20%. Outfront Media Inc. (NYSE:OUT) Q3 2020 Earnings Conference Call November 4, 2020 4:30 PM ET, Jeremy Male - Chairman and Chief Executive Officer, Matthew Siegel - Executive Vice President and Chief Financial Officer. The MTA has been doing a pretty good job of keeping their trains clean, letting people know they are clean. Learn More 04 Nov 2020 OUTFRONT Announces 2020 OUTFRAME Art Competition Winners. Please go ahead. When you look at how our Billboard portfolio in particular, we are the biggest player by quite a long way in both New York and LA, which are very disposed through those meager advertising dollars. And is that something that you would offer up sort of the mix that’s sort of below-ground versus aboveground on the Transit side? This guidance reflects what we’ve been talking about since March, regarding the return of audiences, which is a pre-requisite for the return of revenues. Ben, thank. So, I think it is something that we have moved through now. It was also reduced from proactive discussions with our landlords, and to-date, negotiations have reduced our fiscal year 2020 billboard lease expense by $16 million. And as I mentioned, actually it was very helpful to be able to say exactly what was going on with our audiences. Download PDF Format (opens in new window) NEW YORK, Feb. 20, 2020 /PRNewswire/ -- OUTFRONT Media Inc. (NYSE: OUT) announced today that Jeremy Male, Chairman & Chief Executive Officer, is scheduled to present at the Morgan Stanley Technology, Media … We – 800 plus, we listed in the third quarter, probably reflects the pacing we would keep going in the fourth quarter. New York, NY 10174 Alexia Quadrani - JPMorgan. Outside of our top 15 markets, third quarter revenues were only down 14% and local down around 10%. And we think it’s that organic growth is dollars that are very well spent. Okay. By the way, we’re not in the airport business and we didn’t bid for those airport assets. We also expect to pick up our billboard acquisition activity to selectively take advantage of attractive opportunities and continue growing our presence in our preferred markets around the country. Looking at our other business on Slide 9, Canadian billboard revenues were down 28%, a better result than last quarter and driven by similar factors to the U.S. But we absolutely believe that ridership and revenues will recover, which has been written about the future of cities and the transit system to support them. Our digital billboard count increased by 41 this quarter. We’re now in a position where we have strong, healthy balance sheet, and we’re certainly looking now to ramping up our Digital Billboard investments to levels that we were seeing last year, that – in next year. And one other thing, Slide 19, you are outlining the MTA deployment. So, I think for ridership to restart substantively and increasing, we are going to need to see more people back in their offices. Thank you, Greg and thanks for joining us today. Outfront Media’s Chairman & CEO Jeremy Male appeared at Goldman Sach’s Communacopia 2016 yesterday. So, for example, buses and bus shelters etcetera. The billboard audience is back. The chart on Slide 21 shows the recent ridership across our subway and commuter rail systems. But I do think, Alexia, [indiscernible] we see a significant pickup in audiences, then Transit will be challenged. Our overall expense structure performed very much like last quarter with $108 million reduction or 34% year-over-year, as you can see on Slide 11. So, really, I think the granularity of that was more important when obviously audiences were being more severely impacted. So, I think you’ll see slightly improved revenue, of course, but lease expense base stood at same. Hey. And why would we do that? So, it actually was a great feel for us to say to our advertisers, look, the audiences are still out there. As that business recovers, we remain convinced that Digital will continue to be a key growth driver for our business. A live and replay audio webcast will be available on the investor relations section of the Company's website at … I’ll go into the drivers of this differential later on the call, but you can see one of them on Slide 7, which is our local and national mix. Overall, local revenues were down 28% while national were down 48%. We hope that you are safe and well. We’ll now take our next question from John Janedis from Wolfe Research. Slide 16 shows that our AFFO turned positive this quarter. Transit was only slightly negative despite the fact that we actually recommenced our digital display rollout during the quarter. Matthew Siegel. Thank you. Fri, Mar 29 … Maybe first, Matt, could you help us think about expenses in the fourth quarter, the year-over-year trends we should assume and just any help on the Sports Marketing asset sale and how that might impact expenses in the fourth quarter? Chairman, Chief Executive Officer. Any references made to OIBDA will be on an adjusted basis, and reconciliations of OIBDA and other non-GAAP financial measures are in the Appendix of the slide presentation, the earnings release, and also on our website. So obviously, that comes out as well. I would now like to hand it back over to our speakers for any additional or closing remarks. Not significant dollars, but both assets that would be – we think a great fit to our business as we go forward. Outfront Media Reports Third Quarter 2020 Results. And actually, we were able to say well, no, actually it hasn’t. So, particularly on the – when everything was under depths of despair, the perception was that all of the Billboard audience is gone away. OUTFRONT Media, Inc. (NYSE:OUT) Q4 2019 Earnings Conference Call February 25, 2020 16:30 ET Company Participants Greg Lundberg - SVP, IR Jeremy Male - Chairman [Operator Instructions] And we’ll take our first question from Alexia Quadrani from JPMorgan. And we were able actually to retain a lot of business through actually having that degree of granular information billboard – billboard-by-billboard. Male. A live and replay audio webcast will So, we cannot say exactly how that will plan out, but we suspect that there will be a slight lag between audiences coming back and revenues returning. Turning to Slide 17, as usual, you can see our dividend coverage. Not a big EBITDA contributor, overall, couple of years. Relevant factors that could cause actual results to differ materially from these forward-looking statements are listed in our earnings materials and in our SEC filings, including our 2019 Form 10-K and our 2020 quarterly reports, including our third quarter 10-Q, which will be filed tomorrow. While buses and street furniture are delivering aboveground audience commuter rail and subway systems, which drives the majority of our Transit revenues, still have very low ridership. Part of that is due to the fact that we’re, obviously, still investing in digital displays, which are very attractive to audiences generally. Thanks. And we would expect them to be recovering much more at the sort of rate that we are going to be seeing in our Billboard business rather than – certainly, rather than the rail business. Gregory Lundberg - Senior Vice President, IR. Of course. United States. At that location, it is actually 75%. Please turn to Slide 13, for a look at OIBDA change year-over-year. We will now take our next question from Jason Bazinet from Citi. As you [indiscernible] data we and others have shared regarding street-level mobility, and indeed what you’d likely people are increasingly outing about. So, with that, operator, let’s now open the line for questions. Please go ahead. The companies were formed over a forty-seven year period with the most recent being incorporated seven months ago in March of 2020. While talking about geographies, it’s also important to remember that we have assets in smaller markets and these main street markets are recovering more quickly right now. So, that was a nice way and we think that over time, we’ll be able to develop some great locations through that win. Our net adds were 827 displays compared to just 97 in the second quarter. Let’s look at these in detail on Slide 12. Outfront Media Inc. (NYSE:OUT) Q3 2020 Earnings Conference Call November 4, 2020 4:30 PM ET. In the chart, you can see we were able to offset 60% of the revenue decline through expense reduction. Good afternoon, everyone. Maybe I could just jump in there as well. Jeremy J Male is Chairman/CEO at Outfront Media Inc. See Jeremy J Male's compensation, career history, education, & memberships. I guess, just two questions. This was mostly driven by the higher OIBDA and to a lesser extent by small team within our other drivers. Good afternoon. Thanks very much, operator and thank you all for your questions and your time today. Well, I guess the important point is now that Billboard audiences are sort of back to kind of pre-pandemic level. Jeremy Male Overview Jeremy Male is currently associated with fourteen companies, according to public records. Thank you. Yes. Total revenues were down 37%, right in line with the rest of the business and a bit better than last quarter, with improvements in the declines at both billboard and transit. John Janedis - Wolfe Research. 405 Lexington Avenue They have been consistently among our top performances – top customers for years. We reduced our days sales outstanding. And we have no further questions. While the impacts of the pandemic during the quarter were less pronounced than they were in the second quarter, they still weighed on our U.S. Media and Canada in broadly similar fashion. Thank you, Matt. There was no pronounced differentiation in the performance between static and digital yields. Outfront has assets in all of these and other major markets. We are big believers in continued urbanization, and we are tracking these audiences to advertisers. And it is likely in the near-term that our Transit revenues are to some extent going to track that – that ridership increase as we go forward. 20 Feb 2020. Please go ahead. Outfront Media Inc. (NYSE:OUT) Q3 2020 Earnings Conference Call November 4, 2020 4:30 PM ET Company Participants. So, let me take the sort of second part of that. Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. Let’s now shift over to Matt and he will walk you through the rest of our financials. We saw better billboard performance than expected, while Transit is recovering more slowly given continuing low ridership. Download PDF Format (opens in new window) NEW YORK, April 29, 2020 /PRNewswire/ -- OUTFRONT Media Inc. (NYSE: OUT) announced today that Jeremy Male, Chairman & Chief Executive Officer, is scheduled … It’s also worth noting that we were free cash flow positive again in the third quarter. As I just mentioned, we disposed our sports marketing operation during the quarter. We will refer to certain non-GAAP financial measures on this call. And a lot of the operational measures we’ve taken should extend into the fourth quarter. Chief Executive Officer, CBS Outdoor Americas Inc. OUTFRONT Media Inc. leases advertising space on out-of-home advertising structures and sites. Our next significant maturity is in 2024, and our maturities are nicely added thereafter, with our longest maturity dated 2030. We have obviously given some color on Billboard and Transit for 4Q, but beyond that color, we don’t typically give incremental guidance at this stage. What we are seeing at the moment in Manhattan, is that – it’s sad to say that office workers have been slow to get back into their offices. I hope that many of you are safely back in your offices. Or do you think there is going to be a little bit of a lag where the market does want to make sure that the audience is sort of there before they begin to redeploy dollars, that sort of comparable levels to the audience trends? In U.S. Media, let’s get on Slide 6, billboard revenues were down 23%, a 14 point improvement from the loss rate last quarter. Hi, Jim, it’s Matt. I think that – I am afraid I will not be able to provide a little – a little bit more – a bit more color than that. Let me – on expenses, fourth quarter is going to be more of the same as we’ve seen in the third quarter and second quarter. Most industry observers expect a positive 2021 for Out of Home and Outfront will be a key driver of that. And so obviously, they are not coming back anytime soon, but come back they will as we move forward. After a discussion of our financial results, we will open up the lines for a question-and-answer session. Follow SA Transcripts and get email alerts. Thank you. Let’s now go into more detail, beginning with total revenues on Slide 5. But we are still in a market where there is a little bit of macro impact and certainly there is an impact of some of those important categories for us that we talked about earlier on, in particular TV, movies, entertainment. NEW YORK, Dec. 17, 2019 /PRNewswire/ -- OUTFRONT Media Inc. (NYSE: OUT) announced today that Jeremy Male, Chairman & Chief Executive Officer, is scheduled to … Matt? What we did bid for was the ability to develop billboards on the total Port Authority property in New York State, and we’ll be addressing that as we go along. [Operator Instructions] And we will take our next question from Jim Goss from Barrington Research. 17th Floor So, maybe, Ben, I’ll sort of jump in on the investment side. Thanks, Jeremy and good afternoon everyone. I don’t think we necessarily have to get audiences back to a 100% of where they were, for us to be delivering the source of revenues we were before. Now, these categories will obviously come back. So, that implies kind of couple of hundred boards and CapEx slightly in that $70 million, $80 million range next year. And then separately, within the revenue outlook, data still had any incremental impact from possibly further COVID-related restrictions and can you give us a breakout of billboard versus transit for 4Q? Should we assume that we just won’t see a full recovery in the Transit business until we see ridership kind of return to normal, and just sort of modest kind of improvement as we go, but clearly not a step function, I guess, until we’re sort of post this pandemic, is that a fair assumption? Jeremy Male, Chairman & CEO, Director at Outfront Media (OUT), is currently unranked, see this insider's latest transactions. I am wondering how quickly those measurements are reflected in pricing of those billboards, given that we had this deep decline as the pandemic emerged and it’s – the billboards in particular come back quite well, at least relatively speaking. Posting, maintenance and other expenses were down from lower overall business activities as well as $9 million due to the sales force marketing, and over $5 million from equipment sales Jeremy mentioned earlier. As Chairman and Chief Executive Officer at OUTFRONT MEDIA INC, Jeremy J. NEW YORK, Sept. 10, 2020 /PRNewswire/ -- OUTFRONT Media Inc. (NYSE: OUT) announced today that Jeremy Male, Chairman & Chief Executive Officer, is scheduled to present at the Goldman Sachs 29 th Annual Communacopia Conference on Wednesday, September 16, 2020 at 2:55 p.m. Eastern Time. And it sounds like there is been a significant step up in those deployments. Our higher net revenue of 6.1x obviously reflects lower OIBDA during the pandemic, but does not adversely impact our ability to access immediate liquidity, and we expect to cycle out of it as OIBDA improves. Outfront Media CEO Jeremy Male on using data to target billboard ads. Please go ahead. So, when we look into the guidance that we’re giving now, we have actually seen improvements in a number of categories, maybe worth noting one that certainly looking stronger in Q4 is auto. OUTFRONT MEDIA INC. is corporation filed with the New York State Department of State (NYSDOS). And auto is a category that actually has been declining for us over the last couple of years. Thanks. And then for Jeremy or Matt or both of you, just wondering how you are thinking about your investment plans heading into ‘21. Outfront Media CEO Jeremy Male gives an exclusive interview to CNBC's "Closing Bell." And now, let’s turn our attention to our outlook on Slide 20. Let me now turn the call back over to Jeremy. And with that, I will hand the call over to Jeremy. We will take our next question from Ben Swinburne from Morgan Stanley. Jeremy J. OUTFRONT Media Inc. (NYSE: OUT) announced today that Jeremy Male, Chairman & Chief Executive Officer, is scheduled to present at the UBS TMT Conference in New York, New York on … While our largest cities have a substantial local business, they are disproportionately reliant on national categories like entertainment, movies and TV. I know that many of you have asked about what happens with these agreements in 2021. The trend continues. This is quite a big change from this time last year when we told you that total Digital grew 28%, driven by Digital Billboards up 15% and Transit up a very strong 77%. OUTFRONT Media Chief Executive Officer Jeremy Male To Participate In The Morgan Stanley Technology, Media & Telecom Conference. On the Sports Marketing question, we had about $15 million of expenses in the fourth quarter for 2019 related to Sports Marketing. Rates rising. Matthew Siegel - Executive Vice President and Chief Financial Officer. Back in May, when we gave guidance for the second quarter, we were confident that spring puts the trough in our business and our revenues would improve in each future period. National drives the majority of our Transit revenues, while local drives the majority of our billboard revenues. August 5, 2020 4:30 PM ET. Sure. The first one is, if you could provide a bit more color on the Q4 guidance that you just touched on, Jeremy. Good day and welcome to the Outfront Media Third Quarter Earnings Conference Call. Thank you for your participation. Thank you. I had two questions. Jeremy, you were just talking about something I was interested in, the granular billboard-by-billboard measurement. Once again, we were able to take over $100 million out of our quarterly cost structure, helping improve the year-over-year decline in OIBDA and AFFO. Of this total $1,349,999 was received as a salary, $2,142,450 was received as a bonus, $0 was received in stock options, $3,500,000 was awarded as stock and $1,260 came from other types of compensation. Clive Punter. So, continue to evaluate this as our business improves. So, we’re on our way back. This conference call may include forward-looking statements. Conference Call Participants. Importantly, if you look at Slide 4, you can see that we have good sequential improvement on virtually every metric, with the exception of Transit. Please go ahead. OUTFRONT Media Inc. (NYSE: OUT) announced today that Jeremy Male, Chairman & Chief Executive Officer, is scheduled to present at the 48th Annual J.P. Morgan Global Technology, Media and Communications Conference on Wednesday, May 13, 2020 at 11:50 a.m. Eastern Time. The organic figures remove sports marketing, and I’ll also point out that prior year other revenues had $6 million of non-recurring third-party digital equipment sales. Okay. Hopefully, we can see increased ridership partly because of that and benefit everybody. As you can see here, on average, the ridership is only 28% at the same week last year.