OUTFRONT Media (OUT) Q1 AFFO Meets Estimates, Revenues Up Y/Y
OUTFRONT Media(OUT) Zacks Investment Research·2024-05-07 01:46
OUTFRONT Media Inc. (OUT) reported first-quarter 2024 adjusted funds from operations (AFFO) per share of 14 cents, in line with the Zacks Consensus Estimate.The rise in billboard revenues in the quarter aided decent year-over-year top-line growth. However, higher interest expense and operating expenses acted as a dampener. Reflecting the negative sentiments of investors, shares of the company have lost 5.92% in the May 3 normal trading session on the NYSE.Quarterly revenues came in at $408.5 million, missin ...