OUTFRONT Media (OUT) Earnings: Q3 2026 Results

The quarter ended September 30, 2026 and OUTFRONT Media published the results on November 5, 2026. Revenue and diluted EPS are shown against Q3 2025, the same quarter a year earlier, which takes seasonal swings out of the comparison.

• OUTFRONT Media is a REIT. The revenue figure is the line it calls "Revenues" in its release and "Total revenues" in its 10-Q. It includes $344.1 million of rental income, which OUTFRONT records within revenues.
• At the end of 2025 OUTFRONT Media changed its AFFO calculation to use amortization of direct lease acquisition costs instead of cash paid for them, and recast prior periods. Q3 2025 AFFO was $100.3 million as first reported and is $98.0 million on the new basis.
• The year-ago diluted share count of 176.3 million includes 7.8 million shares issuable on conversion of OUTFRONT's Series A Convertible Perpetual Preferred Stock. All of those preferred shares converted to common stock in November 2025.
• Q3 2026 Billboard and Transit revenues include sales tied to the 2026 FIFA World Cup, which OUTFRONT names as a driver but does not quantify.

Source: OUTFRONT Media Q3 2026 results, November 5, 2026. Also in the Form 10-Q for the quarter ended September 30, 2026. Figures as reported; checked against the release on November 10, 2026.

How OUTFRONT Media splits revenue in its own release, under its own labels, for Q3 2026 against Q3 2025. Indented lines are parts of the line above them.

• OUTFRONT Media's Billboard revenue was $374 million in Q3 2026, up 6% from $353 million in Q3 2025, 73% of total revenue.
• OUTFRONT Media's Transit revenue was $135 million in Q3 2026, up 20% from $112 million in Q3 2025, 26% of total revenue.
• OUTFRONT Media's Other revenue was $2.1 million in Q3 2026, down 9% from $2.3 million in Q3 2025, under 1% of total revenue.

Segment lines are the figures writers cite most often, because they show where the growth in a quarter came from. Companies redraw their segments from time to time and restate the prior year to match, so a year-ago figure here can differ from the one printed a year ago. When that has happened, the note above says so.

From the earnings release

OUTFRONT Media gives no numeric revenue, Adjusted OIBDA or AFFO range in its Q3 2026 release. Its only outlook statement there is the CEO's comment on full-year revenue growth.

In its Q3 2026 release (Nick Brien, CEO), OUTFRONT Media said:

“We currently expect 2026 will be a double-digit revenue growth year, reflecting our focused execution and IRL's re-emergence as an integral part of advertisers' marketing campaigns.”

Source: OUTFRONT Media Q3 2026 release, Nov 5, 2026.

This is the company's own guidance as of Nov 5, 2026, quoted as given. Walnut does not make forecasts of its own. Analyst estimates for the coming quarters are on the OUT forecast page.

Revenue and diluted EPS for the last 5 quarters. Each date links to that quarter's release.

GAAP revenues and diluted EPS (net income attributable to OUTFRONT Media Inc. per diluted share), each as first reported in that quarter's release. OUTFRONT's revenue and profit are seasonal: highest in the fourth quarter and lowest in the first.

We do not hold a confirmed date for OUTFRONT Media's next report. Companies post the date on their investor relations site a few weeks ahead, usually with the time of the conference call.

Each quarter keeps its own page with the figures as reported, so a link to one stays pointed at the same numbers after the next report.

• Q3 2026 (this page), reported Nov 5, 2026

OUTFRONT Media reported Q3 2026 revenues of $511.1 million, up $43.6 million, or 9.3%, from a year earlier. Billboard brought in $373.7 million, up 5.9%, and Transit $135.3 million, up 20.4%. The Other segment, $2.1 million, fell 8.7% on lower third-party digital equipment sales. (OUTFRONT Media Q3 2026 release, Nov 5, 2026)

OUTFRONT Media splits each segment by display type in its 10-Q. Billboard static displays produced $237.2 million and digital displays $123.5 million, against $231.4 million and $109.5 million a year earlier. In Transit, static displays rose to $59.3 million from $46.6 million and digital displays to $65.3 million from $56.0 million. Over the first nine months of 2026 digital revenue was $525.1 million: $347.5 million from 2,014 digital billboard displays and $177.6 million from 29,587 digital transit displays. (OUTFRONT Media Form 10-Q, Q3 2026, Nov 6, 2026)

OUTFRONT Media put the Billboard increase down to higher average revenue per display (yield), including programmatic and direct sale platforms on digital billboards, plus revenue tied to the 2026 FIFA World Cup. Transit grew on yield and World Cup revenue, partly offset by new and lost transit franchise contracts. The 10-Q says a digital billboard earns about four to five times the revenue of a comparable static billboard and costs about two to four times as much to run. (OUTFRONT Media Q3 2026 release, Nov 5, 2026; OUTFRONT Media Form 10-Q, Q3 2026, Nov 6, 2026)

OUTFRONT Media's Transit revenue is concentrated in New York: the New York metropolitan area was 64% of Transit segment revenues in Q3 2026, against 63% a year earlier. Los Angeles was 12% of Billboard segment revenues. Enterprise advertising campaigns made up about 43% of Billboard and Transit revenues, against about 44%. The largest advertiser categories were entertainment at 17%, legal services/lawyers at 10% and retail at 10%. (OUTFRONT Media Form 10-Q, Q3 2026, Nov 6, 2026)

OUTFRONT Media has displays in about 120 US markets, including the 25 largest. It generally owns its billboard structures and holds the permits, but leases the land: at December 31, 2025 it had about 19,100 lease agreements with about 17,500 landlords, and it estimates about 75% of its US billboard structures are legal nonconforming, meaning they could not be built under current law. In Q3 2026 billboard property lease expense was $117.9 million and transit franchise expense $64.8 million. (OUTFRONT Media Form 10-K, 2025, Feb 26, 2026; OUTFRONT Media Q3 2026 release, Nov 5, 2026)

OUTFRONT Media's GAAP diluted EPS was $0.36 in Q3 2026, up from $0.29, on net income attributable to OUTFRONT Media Inc. of $64.8 million, up 26.3%. OUTFRONT does not publish an adjusted EPS figure. As a REIT it reports FFO of $105.6 million and AFFO of $102.9 million, both in dollars, up 5.9% and 5.0%. AFFO excludes stock-based compensation ($6.6 million in the quarter), non-real estate depreciation and amortization, a $2.0 million net loss on disposition of non-real estate assets and other non-cash items, and deducts $7.3 million of maintenance capital expenditures. (OUTFRONT Media Q3 2026 release, Nov 5, 2026)

OUTFRONT Media's SG&A rose 23.1% to $129.5 million, on higher compensation, professional fees including software and technology, a higher bad debt allowance and client entertainment. Adjusted OIBDA grew 5.9%, slower than the 9.3% rise in revenue. Net interest expense was $36.9 million, against $37.0 million, and the weighted average cost of debt was 5.5%. The income tax provision was $1.3 million; the 10-Q attributes the gap from the federal statutory rate mainly to REIT status, including the dividends paid deduction. (OUTFRONT Media Q3 2026 release, Nov 5, 2026; OUTFRONT Media Form 10-Q, Q3 2026, Nov 6, 2026)

OUTFRONT Media's diluted weighted average shares were 177.6 million, against 176.3 million a year earlier. Basic shares rose from 167.2 million to 176.1 million after the Series A Convertible Perpetual Preferred Stock converted to common in November 2025. No shares were sold under the at-the-market equity program in the quarter, and $232.5 million remains available. (OUTFRONT Media Q3 2026 release, Nov 5, 2026; OUTFRONT Media Form 10-Q, Q3 2026, Nov 6, 2026)

Diluted EPS divides net income by the weighted average number of shares outstanding in the quarter, plus the shares that options and other equity awards could add. Buybacks shrink that count and lift EPS for the same profit; share issuance and stock awards enlarge it.

OUTFRONT Media gave no numeric outlook in its Q3 2026 release. CEO Nick Brien said OUTFRONT currently expects 2026 to be a double-digit revenue growth year. Revenues for the first nine months were $1,463.2 million, up 11% from $1,318.4 million. (OUTFRONT Media Q3 2026 release, Nov 5, 2026; OUTFRONT Media Form 10-Q, Q3 2026, Nov 6, 2026)

OUTFRONT Media expects MTA equipment deployment costs of about $25.0 million in 2026 and between $30.0 million and $40.0 million a year for the rest of the amended MTA term. It expects to recoup some, but not all, deployment costs incurred before December 31, 2025, and does not expect to recoup current or future ones, even when MTA revenues exceed the minimum annual guarantee threshold. The board declared a quarterly dividend of $0.33 per share, payable December 31, 2026. (OUTFRONT Media Form 10-Q, Q3 2026, Nov 6, 2026; OUTFRONT Media Q3 2026 release, Nov 5, 2026)

A consensus figure is the average of the models published by the analysts who cover OUTFRONT Media, collected by a data provider and revised up to the day of the report. A quarter that lands above it says how expectations were set as much as how the business did, and the share price on the day also reflects the guidance and the lines no consensus covers.

The consensus figures on this page are Yahoo Finance's, as pulled on the date shown. Each comes with the number of analysts behind it; the smaller that number, the more one revised estimate can move the average.

The figures below are the ones OUTFRONT Media's own release and filings put weight on for Q3 2026, with the latest reported value for each.

What the quarter means for a holding is a separate question from what it reported. The case for and against owning OUT is on is OUT a buy or a sell?, what analysts expect next is on the OUT forecast, and what the company does is on the OUTFRONT Media (OUT) stock page.

Every number on this page can be traced to a document OUTFRONT Media published. Checking one takes a couple of minutes, and it is worth doing before you quote a figure anywhere.

• The results release is the document linked in the source line above. Companies publish it on their investor relations site at the moment results go out, and it carries the headline tables: revenue, operating income, net income and EPS for the quarter and the year-ago quarter.
• The same release is filed with the SEC as Exhibit 99.1 to a Form 8-K under Item 2.02, usually on the day of the report. The SEC copy does not change after the fact, which makes it the safer thing to link when you cite a number.
• The quarterly report (Form 10-Q) follows within a few weeks and carries the full financial statements, the segment note and management's discussion of what changed. The fourth quarter is covered by the annual report (Form 10-K) instead.
• Restated comparisons are flagged in the notes on this page. When a company redraws its segments or changes how it adjusts EPS, it restates the year-ago column, so the year-ago figure in a new release can differ from the one printed a year ago. This page always uses the comparison in the newer release, because that is the like-for-like one.

A walk-through of every line in a release, with what each one tells you, is in how to read an earnings report.