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Outfront Media (OUT) Q2 Earnings: How Key Metrics Compare to Wall Street Estimates
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Outfront Media (OUT - Free Report) reported $468.8 million in revenue for the quarter ended June 2023, representing a year-over-year increase of 4.1%. EPS of $0.47 for the same period compares to $0.28 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $472.82 million, representing a surprise of -0.85%. The company delivered an EPS surprise of -7.45%, with the consensus EPS estimate being $0.51.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Outfront Media performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Non-GAAP Billboard Revenues- U.S. Media: $352.20 million versus the five-analyst average estimate of $354.18 million. The reported number represents a year-over-year change of +6.1%.
Non-GAAP Transit and other Revenues- U.S. Media: $90.80 million versus $91.12 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +0.4% change.
Non-GAAP Total revenues- U.S. Media: $443 million compared to the $445.31 million average estimate based on five analysts. The reported number represents a change of +4.9% year over year.
Non-GAAP Total revenues- Other: $25.80 million compared to the $27.51 million average estimate based on five analysts. The reported number represents a change of -6.9% year over year.
Non-GAAP Transit and other Revenues- Other: $6.40 million compared to the $5.92 million average estimate based on four analysts. The reported number represents a change of +10.3% year over year.
Non-GAAP Billboard Revenues- Other: $19.40 million compared to the $21.76 million average estimate based on four analysts. The reported number represents a change of -11.4% year over year.
Revenues- Billboard: $371.60 million compared to the $374.46 million average estimate based on two analysts. The reported number represents a change of +5% year over year.
Revenues- Transit and other: $97.20 million compared to the $98.70 million average estimate based on two analysts. The reported number represents a change of +1% year over year.
Net Earnings Per Share (Diluted): -$2.92 versus $0.22 estimated by five analysts on average.
Other- Adjusted OIBDA: $6.70 million versus the two-analyst average estimate of $6.49 million.
U.S.- Adjusted OIBDA: $128.10 million compared to the $137.86 million average estimate based on two analysts.
Shares of Outfront Media have returned -5.5% over the past month versus the Zacks S&P 500 composite's +1.5% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
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Outfront Media (OUT) Q2 Earnings: How Key Metrics Compare to Wall Street Estimates
Outfront Media (OUT - Free Report) reported $468.8 million in revenue for the quarter ended June 2023, representing a year-over-year increase of 4.1%. EPS of $0.47 for the same period compares to $0.28 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $472.82 million, representing a surprise of -0.85%. The company delivered an EPS surprise of -7.45%, with the consensus EPS estimate being $0.51.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Outfront Media performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Non-GAAP Billboard Revenues- U.S. Media: $352.20 million versus the five-analyst average estimate of $354.18 million. The reported number represents a year-over-year change of +6.1%.
- Non-GAAP Transit and other Revenues- U.S. Media: $90.80 million versus $91.12 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +0.4% change.
- Non-GAAP Total revenues- U.S. Media: $443 million compared to the $445.31 million average estimate based on five analysts. The reported number represents a change of +4.9% year over year.
- Non-GAAP Total revenues- Other: $25.80 million compared to the $27.51 million average estimate based on five analysts. The reported number represents a change of -6.9% year over year.
- Non-GAAP Transit and other Revenues- Other: $6.40 million compared to the $5.92 million average estimate based on four analysts. The reported number represents a change of +10.3% year over year.
- Non-GAAP Billboard Revenues- Other: $19.40 million compared to the $21.76 million average estimate based on four analysts. The reported number represents a change of -11.4% year over year.
- Revenues- Billboard: $371.60 million compared to the $374.46 million average estimate based on two analysts. The reported number represents a change of +5% year over year.
- Revenues- Transit and other: $97.20 million compared to the $98.70 million average estimate based on two analysts. The reported number represents a change of +1% year over year.
- Net Earnings Per Share (Diluted): -$2.92 versus $0.22 estimated by five analysts on average.
- Other- Adjusted OIBDA: $6.70 million versus the two-analyst average estimate of $6.49 million.
- U.S.- Adjusted OIBDA: $128.10 million compared to the $137.86 million average estimate based on two analysts.
View all Key Company Metrics for Outfront Media here>>>Shares of Outfront Media have returned -5.5% over the past month versus the Zacks S&P 500 composite's +1.5% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.