[Operator Instructions] And weâll take our first question from Alexia Quadrani from JPMorgan. 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. Now, letâs turn to Slide 19 for an update on the MTA where display deployment picked up, as we announced last quarter. OUTFRONT Media Inc. (NYSE: OUT) announced today that Jeremy Male, Chairman & Chief Executive Officer, is scheduled to present at the Morgan Stanley Technology, Media â¦ Thanks, Alexia. So, that was a nice way and we think that over time, weâll be able to develop some great locations through that win. Matt? Things suddenly feel better than they did last quarter, and this is reflected in our numbers on Slide 3. Thank you. Outfront Media CEO Jeremy Male gives an exclusive interview to CNBC's "Closing Bell." Learn More 04 Nov 2020 OUTFRONT Announces 2020 OUTFRAME Art Competition Winners. The trend continues. Transit, however, is still lagging. Transit franchise expense declined as we were successful in working with our Transit partners in shifting to revenue share instead of minimum annual guarantee payments. National drives the majority of our Transit revenues, while local drives the majority of our billboard revenues. 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? Ridership across the country is still at very reduced levels compared to pre-pandemic, particularly in rail systems, which accounts for the majority of our transit advertising dollars. And finally related to that, are there safety steps being taken to provide comfort to riders to return, or is it sort of out of necessity in getting around New York City in particular that will bring them back? Please go ahead. We stepped up â I think at the end of June, we restarted our deployments. Capital expenditures on Slide 15 were still down significantly from last year in both maintenance and growth. The first one is, if you could provide a bit more color on the Q4 guidance that you just touched on, Jeremy. And itâs worth mentioning again that Facebook is making a major real estate investment in Midtown, Manhattan. Should we assume that we just wonât 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 weâre sort of post this pandemic, is that a fair assumption? Outfront Media Inc. (NYSE:OUT) Q2 2020 Earnings Conference Call . Good afternoon. After a discussion of our financial results, we will open up the lines for a question-and-answer session. So, for example, in Times Square right now, they wouldnât be at pre-pandemic levels. 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? Not a big EBITDA contributor, overall, couple of years. Please go ahead. 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 me â on expenses, fourth quarter is going to be more of the same as weâve seen in the third quarter and second quarter. 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 â¦ Executive Vice President, Chief Revenue Officer. I know that many of you have asked about what happens with these agreements in 2021. 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%. Richard Sauer. We are OUTFRONT by name and by nature. Jeremy Male Overview Jeremy Male is currently associated with fourteen companies, according to public records. Transit ridership, which is obviously our audience, leads to increase further the Transit revenues to begin any sorts of substantial recovery. So, itâs reasonable that until those categories come back, there is going to be a couple of markets where we areâ where we are just more challenged than others. Learn More Top. Yes. Please go ahead. Revenues from these three categories were down over 60% in the quarter and impacted our total results by 10 points. At that location, it is actually 75%. And so obviously, they are not coming back anytime soon, but come back they will as we move forward. There was no pronounced differentiation in the performance between static and digital yields. And then my second question really just on the Transit side. 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. Well, I guess the important point is now that Billboard audiences are sort of back to kind of pre-pandemic level. Data, geofencing and small cell deployment revenues small but promising. While our largest cities have a substantial local business, they are disproportionately reliant on national categories like entertainment, movies and TV. Jeremy Male - Chairman and CEO Outfront Media CEO Jeremy Male on using data to target billboard ads. Well, the fact is that Matt and I sign off every proposal for digital conversion, and but still making great returns. 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.A live and replay audio webcast will be available on the investor relations section of the Company's â¦ 405 Lexington Avenue Thank you very much again. The MTA has been doing a pretty good job of keeping their trains clean, letting people know they are clean. So, weâre on our way back. A lot of politicians and celebrities have been either riding the subway or making the case for it. 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. They have been consistently among our top performances â top customers for years. Little political. What we did bid for was the ability to develop billboards on the total Port Authority property in New York State, and weâll be addressing that as we go along. The chart on Slide 21 shows the recent ridership across our subway and commuter rail systems. As national advertising recovers more generally, weâre likely to see a steeper growth trajectory in our bigger cities, similar to that to which we saw back in 2010. Thank you, Matt. 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. A live and replay audio webcast will be available on the investor I am not going to go through all of these figures at the moment, but notable here are the significant sequential improvements in U.S. media billboard revenues, our adjusted OIBDA and AFFO. Thank you, Greg and thanks for joining us today. The companies were formed over a forty-seven year period with the most recent being incorporated seven months ago in March of 2020. Outfront Media Inc. (NYSE:OUT) Q3 2020 Earnings Conference Call November 4, 2020 4:30 PM ET Company Participants Gregory Lundberg â Investor Relations Jeremy Male â Chairman and Chief Executive Officer Matthew Siegel â Executive Vice President and Chief Financial Officer Conference Call Participants Alexia Quadrani â JPMorgan Ben Swinburne â Morgan Stanley John â¦ Overall, OIBDA margins came in at 24%, not quite back toward 29% historical annual run rate, but a good step closer. We switched off the capital expenditure in terms â which is principally about digital and [indiscernible] in the second quarter, really just reflecting the caution, given limited outlook. One of our reduction or decrease has been variable cost components, a lot of the transit â the maintenance benefits from lower revenue, all of our Transit agreements are in revenue shares, from revenues that are depressed because of COVID, dramatically down. And we were able actually to retain a lot of business through actually having that degree of granular information billboard â billboard-by-billboard. Not significant dollars, but both assets that would be â we think a great fit to our business as we go forward. So, you got a little bit of geographic variation. We will now take our next question from Jason Bazinet from Citi. Expenses were actually $15 million. I have been spending quite a bit of time in ours over the past few months, and I am pleased to say that Midtown is looking a bit more like normal. Matt, just to quickly follow-up, if you can, whatâs the revenue hit from Sports Marketing in Q4, so we have the whole picture? Thank you. 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 isnât impacted by those audience numbers that you saw, sort of, aboveground. Jeremy Male, Chairman & CEO, Director at Outfront Media (OUT), is currently unranked, see this insider's latest transactions. And one other thing, Slide 19, you are outlining the MTA deployment. What we are seeing at the moment in Manhattan, is that â itâs sad to say that office workers have been slow to get back into their offices. We hope that you are safe and well. Sure. 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. And as we look at the fourth quarter, we expect total revenues to be down in the low 30% range. 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. Letâs now shift over to Matt and he will walk you through the rest of our financials. Male. And as I mentioned, actually it was very helpful to be able to say exactly what was going on with our audiences. So, we are kind of level set now in terms of audience. Gregory Lundberg - Senior Vice President, IR. Is the pricing adjustment going to be on a billboard-by-billboard basis in continual discussion with the advertising clients or can you talk a little about how the press is working given the dramatic changes we are having this year? August 5, 2020 4:30 PM ET. Whenever we look at guidance, we take into account what we can see at the time. So, I think it is something that we have moved through now. Our next significant maturity is in 2024, and our maturities are nicely added thereafter, with our longest maturity dated 2030. The Company maintains a portfolio consisting of billboard displays and municipal transit systems in the United States, Canada, and Latin America. And contrary to some of the news flow, Amazon announced new office space in New York, Dallas, Denver, Detroit, Phoenix and San Diego. And after todayâs call is concluded, an audio archive will be there as well. And when we do, we will be seeing the growth in that high value audience that we have been selling so successfully for many years. Outfront Media Reports Third Quarter 2020 Results. Jeremy Male - Chairman and Chief Executive Officer. On the call today are Jeremy Male, Chairman and Chief Executive Officer; and Matthew Siegel, Executive Vice President and Chief Financial Officer. Ben Swinburne - Morgan Stanley. 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. SG&A expenses decreased primarily due to continued restrictions on discretionary expenses, workforce reductions, employee furloughs and temporary reduction in certain employee base salaries. Matthew Siegel - Executive Vice President and Chief Financial Officer. And we think itâs that organic growth is dollars that are very well spent. We have a large fixed cost structure, especially in billboard lease costs, so future improvements in revenue will have a strong flow through to OIBDA. Our net adds were 827 displays compared to just 97 in the second quarter. Iâm 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? The DOS ID is 4526201.The business entity is incorporated in New York County.The entity type is FOREIGN BUSINESS CORPORATION.The initial DOS filing date is 02/07/2014.The address is 405 Lexington Avenue, New York, New York 10174.The city is Albany, New York. 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 This was mostly driven by the higher OIBDA and to a lesser extent by small team within our other drivers. In the chart, you can see we were able to offset 60% of the revenue decline through expense reduction. 17th Floor Itâs a different story. The last topic on revenues Iâd like to cover is Digital, on Slide 10. And with that that does conclude todayâs call. 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. And a lot of the operational measures weâve taken should extend into the fourth quarter. John Janedis - Wolfe Research. Okay. We remain in a strong financial position, as you can see on Slide 18. 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. Alexia Quadrani - JPMorgan. Letâs now go into more detail, beginning with total revenues on Slide 5. We will take our next question from Ben Swinburne from Morgan Stanley. OUTFRONT Media Inc Q2 2020 ... We are hosting today's call remotely with Jeremy Male, Chairman and Chief Executive Officer, actually at â¦ Relative to the third quarter, we expect the sequential improvement will largely be driven by billboard and improving picture in both local and national. One is, improved data audience measurement was seemingly a tailwind coming into the year. 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. One offset was again a higher provision for doubtful accounts related to COVID-19. This guidance reflects what weâve been talking about since March, regarding the return of audiences, which is a pre-requisite for the return of revenues. It was a good business for us, but, as you know, was non-core for us, and will benefit from the scale of its new owners. OUTFRONT Media Chief Executive Officer Jeremy Male To Participate In The Morgan Stanley Technology, Media & Telecom Conference. But in other markets across the U.S. are actually beyond pre-pandemic levels, in part reflecting car usage versus transit ridership. Just coming to your second question, yes, I think itâs right to say that we wonât get that sort of â I think we said that will sort of step up improvement until we see those audiences increasing. OUTFRONT Media Chief Executive Officer Jeremy Male to Participate in the J.P. Morgan Global Technology, Media and Communications Conference. 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 â¦ 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. Transit was only slightly negative despite the fact that we actually recommenced our digital display rollout during the quarter. That is what happened as you see it in our numbers today. Gregory Lundberg - Investor Relations. Slide 14 shows that billboard did better this quarter. So, let me take the sort of second part of that. The billboard audience is back. And it sounds like there is been a significant step up in those deployments. That does conclude todayâs question-and-answer session. But I do think, Alexia, [indiscernible] we see a significant pickup in audiences, then Transit will be challenged. While talking about geographies, itâs also important to remember that we have assets in smaller markets and these main street markets are recovering more quickly right now. As you can see here, on average, the ridership is only 28% at the same week last year. According to a CNBC interview Outfront Media CEO Jeremy Male, out-of-home media is a popular medium among top tech and consumer companies, and is a growing advertising medium. But for the most parts, Billboard audiences are back to 100%. And you mentioned the Port Authority, obviously the big â 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. 29 Apr 2020. Thanks. Of course. And then for Jeremy or Matt or both of you, just wondering how you are thinking about your investment plans heading into â21. Outfront Mediaâs Chairman & CEO Jeremy Male appeared at Goldman Sachâs Communacopia 2016 yesterday. In closing, our balance sheet remains in a good place to deal with this uncertainty and weâre pleased to see the recovery of volumes in aboveground where our billboard business is doing better all the time. So, continue to evaluate this as our business improves. 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. But itâs worth mentioning that collections went well in this quarter. Transit was down 69%, a 7 point improvement. Ben, thank. 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. Total revenues were down 39% or 37% on an apples-to-apples basis, after our sports marketing disposal, and well within our guidance range. Thanks very much, operator and thank you all for your questions and your time today. 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. Weâre also continuing and keep our eye out for other investment opportunities in terms of tuck-in acquisitions. Good afternoon, everyone. So, it actually was a great feel for us to say to our advertisers, look, the audiences are still out there. Thank you. OUTFRONT Media Inc. (NYSE: OUT) announced today that Jeremy Male, Chairman & Chief Executive Officer, is scheduled to present at the Goldman Sachs 29th â¦ Part of that is due to the fact that weâre, obviously, still investing in digital displays, which are very attractive to audiences generally. Letâs look at these in detail on Slide 12. So, really, I think the granularity of that was more important when obviously audiences were being more severely impacted. Hi, Jim, itâs Matt. Hopefully, we can see increased ridership partly because of that and benefit everybody. I donât 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. We have deployed $340 million of total capital to-date, all subject to recoupment from future revenues, except a roughly $30 million spent so far under the previously disclosed amended deployment plan. And what I can say at this time is our team is in the midst of slowed conversations with our Transit partners regarding our level of ridership and its implication. 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. Our comments today will refer to the earnings release and the slide presentation that you can find in the Investor Relations section of our website, outfrontmedia.com. 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. And it is likely in the near-term that our Transit revenues are to some extent going to track that â that ridership increase as we go forward. What we will do is [indiscernible] that Billboard location prior to COVID levels. Please go ahead. Most industry observers expect a positive 2021 for Out of Home and Outfront will be a key driver of that. Outside of our top 15 markets, third quarter revenues were only down 14% and local down around 10%. So, that implies kind of couple of hundred boards and CapEx slightly in that $70 million, $80 million range next year. Thanks, Jeremy and good afternoon everyone. Please turn to Slide 13, for a look at OIBDA change year-over-year. And we have no further questions. Clive Punter. You may not be able to communicate that specifically. Transit and our major market performance drove our superior growth pre-pandemic and we are absolutely convinced that they will drive superior growth post-pandemic. Follow SA Transcripts and get email alerts. Okay. And now, letâs turn our attention to our outlook on Slide 20. OUTFRONT MEDIA INC. is corporation filed with the New York State Department of State (NYSDOS). Hi. The figures you see here, included in our other revenues in 2019, and thereâs additional color on this in the appendix. As you [indiscernible] data we and others have shared regarding street-level mobility, and indeed what youâd likely people are increasingly outing about. We â 800 plus, we listed in the third quarter, probably reflects the pacing we would keep going in the fourth quarter. Thanks. So, thatâs really good to see. If you can give us any more color in terms of what we expect by the Transit and Billboard, that would be appreciated? Please go ahead. 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.