Outfront Media Inc

OUTFRONT Media reported second-quarter 2026 adjusted funds from operations of 68 cents per share, up 38.8% year over year and beating the Zacks Consensus Estimate of 59 cents by 15.35%. Revenues increased 13.5% to $522.5 million, surpassing the consensus mark of $508.8 million by 2.68%. Billboard revenues rose 8% to $379.4 million, driven by higher yield and FIFA World Cup contributions, while transit revenues jumped 32.3% to $140.6 million. Adjusted OIBDA climbed 29.2% to $160.3 million, and the board raised the quarterly dividend 10% to 33 cents per share.

Shares of billboard real estate investment trusts Lamar Advertising and Outfront Media have surged more than 24% and 37% respectively so far in 2026, while both still offer dividend yields above 3.5%. Lamar pays a quarterly dividend of $1.60 per share, yielding around 4.03%, and Outfront Media's quarterly dividend of $0.30 per share yields about 3.6%. Both companies benefit from a resilient local customer base, with roughly 80% of Lamar's tenants and 60% of Outfront's clients being local businesses. In the first quarter, Lamar reported revenue of $528 million, up 4.5% year over year, and adjusted funds from operations per share of $1.72, up 7.5%, while Outfront posted revenue of $429.6 million, up 9.9%, and AFFO per share of $0.34, up 143%. The companies are also poised to gain from projected political ad spending exceeding $11 billion for the 2026 U.S. midterm elections.

Snapchat and OUTFRONT Media have launched 'Crowd Created,' a live augmented reality experience in Times Square that debuts with HBO Max as the first partner to promote the upcoming Season 3 premiere of House of the Dragon on June 21. The activation, running from 3 PM to 7 PM on June 18, 2026, features Snapchat's first-ever four-sided AR Mirror, allowing visitors to virtually wear Queen Rhaenyra Targaryen's crown and see themselves projected live onto OUTFRONT's Duffy Duo billboards. The campaign combines Snapchat's AR technology with OUTFRONT XLabs' XTend offering and is supported by a two-week ad campaign across OUTFRONT's New York City network. Snapchat reports 956 million monthly active users and nearly 2 trillion Snaps created in 2025, with Samba TV analyses showing a 91% lift in theatrical ticket sales and an 84% lift in tune-in for TV shows from Snapchat campaigns on average.