Outfront Media reports Q3 GAAP EPS 9c, consensus 13c

Reports Q3 revenue $454.8M, consensus $460.87M. Adjusted OIBDA of $116.9M decreased $6.3M, or 5.1%, compared to the same prior-year period. “As expected, third quarter revenues were up slightly as a result of higher billboard revenues and strength in our local business,” said Jeremy Male, Chairman and CEO of OUTFRONT Media. “We were also pleased to recently announce an agreement for the strategic sale of our Canadian business to Bell Media, which will provide us with additional financial flexibility as we move towards 2024.”